Charlie339 Posted April 12, 2010 Report Share Posted April 12, 2010 According to the International Monetary Fund ( Link to comment Share on other sites More sharing options...
digital11 Posted April 12, 2010 Report Share Posted April 12, 2010 Great research! Link to comment Share on other sites More sharing options...
BIGCG Posted April 12, 2010 Report Share Posted April 12, 2010 Iv read somewhere that the IMF will NOT accept gold or oil in return for the payment. Has anyone else heard this? If this is the case im assuming that they need a currency thats worth something to repay. Am i right / wrong?? I would like to hear what people think - great post Charlie Link to comment Share on other sites More sharing options...
Brandon2230 Posted April 12, 2010 Report Share Posted April 12, 2010 It says 2013... Anyone concerned with that? Link to comment Share on other sites More sharing options...
xdmed Posted April 12, 2010 Report Share Posted April 12, 2010 Iv read somewhere that the IMF will NOT accept gold or oil in return for the payment. Has anyone else heard this? If this is the case im assuming that they need a currency thats worth something to repay. Am i right / wrong?? I would like to hear what people think - great post Charliei read in forum a few weeks ago that the payment was to be in tradeable currency and the rv dinar would have to have 30 days between rv and being accepted by imf as tradeable currency Link to comment Share on other sites More sharing options...
wolfie251 Posted April 12, 2010 Report Share Posted April 12, 2010 Where are you seeing that...I see 2013, but it shows how many years the loan is for and how much is owed each year. If you look at the first and second link it shows the first payment is 5/1/10 Link to comment Share on other sites More sharing options...
xdmed Posted April 12, 2010 Report Share Posted April 12, 2010 It says 2013... Anyone concerned with that?i just caught that i thought the first payment was originally 4 21 2010 Link to comment Share on other sites More sharing options...
Brandon2230 Posted April 12, 2010 Report Share Posted April 12, 2010 I hope it's may 1st.. Can anyone clarify?? Link to comment Share on other sites More sharing options...
digital11 Posted April 12, 2010 Report Share Posted April 12, 2010 The principal doesn't start getting repaid until 2013, but there is interest due in May of 2010. Link to comment Share on other sites More sharing options...
tgar Posted April 12, 2010 Report Share Posted April 12, 2010 (edited) Null & void they can pay interest in usd; if they dont have enough our gov will give them more Edited April 12, 2010 by tgar speii Link to comment Share on other sites More sharing options...
dirt diggler Posted April 12, 2010 Report Share Posted April 12, 2010 Iv read somewhere that the IMF will NOT accept gold or oil in return for the payment. Has anyone else heard this? If this is the case im assuming that they need a currency thats worth something to repay. Am i right / wrong?? I would like to hear what people think - great post Charlie Hi, My take is they DO NOT need international trade-able currency. The IMF indicates they can negotiate the currency(eg US Funds) which the loan is paid. All the gurus state differently, but not one has provided the proof. I challenge anyone who can provide solid info regarding this. Link to comment Share on other sites More sharing options...
Danneedsrvnow Posted April 12, 2010 Report Share Posted April 12, 2010 Medic, Mailman, & all the others who have been wrong 100% say that the first payment can only be made with a tradeable currency (their own currency(post rv). Guaranteed they will make a payment in USD or other, but will not be paid in Dinar. Medic has been hung up on the loans through the IMF for so long & it NEVER pans out. Link to comment Share on other sites More sharing options...
krucialmix Posted April 12, 2010 Report Share Posted April 12, 2010 I agree. The whole "tradeable currency" rumor is pumper oriented. They'll pay with money. But they are NOT going to RV just to make a bill payment. That would be an irresponsible reason to RV. Link to comment Share on other sites More sharing options...
Chief V Posted April 12, 2010 Report Share Posted April 12, 2010 SFMED had been stating that had to use a tradeable currency, that they could not use gold, or oil, now whether or not they could use SDR's is unknown as I've not heard anyone mention that. Iraq has a substantial amount of SDR's in the billions, you can look it up on the IMF website, I was pretty surprised when I saw how many they had there. In excess of 1.1 Billion I'm thinking...tried to find the document as I had saved it, but can't locate it. Link to comment Share on other sites More sharing options...
Chief V Posted April 12, 2010 Report Share Posted April 12, 2010 There is a an XLS form on the CBI website called CBI Key Iraq Financials, which I wanted to download on here but the uploader won't accept excel files, which is understandable. If there is an economist out there who would look that up and decipher it there is some really good info on there. Lots of timelines on the loans and dates and amounts, it goes all the way back to 2002 and back up the last week of January of 2010, showing the exchange rates plus some addtional information that might be useful. Here is an excerpt from the first column. KEY FINANCIAL INDICATORS FOR Feb.,3, 2010Exchange rate (ID/USD) in auction (daily average)Inflation Consumer Price Index (1993 = 100)Core Inflation Consumer Price Index Exclude ( F&L and T&C ) ( 1993=100 )Interest Rates:a-MOF Rates on 91 day auctions (period average ) Amount sold (in millions of ID) Amount redeemed (in millions of ID) Stock Outstanding (end of period in millions of ID) Rates on 182 day auctions (period average ) 6 Amount sold (in millions of ID) Amount redeemed (in millions of ID) Stock Outstanding (end of period in millions of ID) Rates on 365 day auctions (period average ) 6 Amount sold (in millions of ID) Amount redeemed (in millions of ID) Stock Outstanding (end of period in millions of ID) b-CBI (end of period, annual % ) Policy Rate Credit Facilities - Primary Secondary Lender of Last Resort Deposit Facilities ID Overnight deposits ID 7 day deposits ID 14 day deposits ID 30 day deposits USD overnight deposits USD 7 day deposits USD 30 day deposits USD 90 day deposits CBI Bills 182 day maturity discount ratec- Commercial Banks (end of period, annual % ) ID Bank deposits (one year fixed) FX Bank deposits (one year fixed) ID Bank loans ( 1+ - 5 year) FX Bank loans (1+ - 5 year )Monetary Base (End of period, in billions of Iraqi dinars) Sources (a+ a - Net Foreign Assets of CBI Gross Foreign Assets of CBI Gold and SDRs 5 Investments Cash in CBI Vaults Less Foreign Liabilities of CBI Foreign sector foreign currency current account b - Net Domestic Assets of CBI of which Net claims on central governmentRescheduled MOF obligations Holdings of treasury bills Discounted T-Bills Overdrafts less Domestic currency deposits of MOF less Foreign exchange deposits of MOF Net claims on commercial banks Credits Less Deposits and bills (excluding overnight ID) 4 7 day ID deposits 14 day ID deposits 30 day ID deposits The amount of CBI " bills outstanding USD Current Account deposits Term USD deposits 4 Overnight 7 day 30 day 90 day Uses (a+a - Currency outside banksb - Bank reserves ID Current Account Overnight ID deposits 1 ID vault cash 2Money Supply (End of period , in billions of Iraqi dinars) M1 M2 Of which: Deposits component of M2 Foreign currency depositsReserve Requirement (reserve maintenance period, in billions of Iraqi dinars) a - Required Reserves (25% of reservable Deposits) 3 b - Excess Current AccountSource: CBI / Research & Statistics Dept. / Internal statistics DivisionNote:1 From July 1, 2007 the ID overnight deposits were replaced with 7 day deposits, and thus no longer included in base Money and Excess Reserves. The USD Overnight deposits were replaced by 7 day deposits from Oct 1, 2007."Note:2, The weekly vault cash include the banknote only ( without coins )Note :3, 25% of the Reservable Deposits included the government Deposits Since May 2005, then became 75%of Reservable Gov. Deposits since July,2007. So 25% of the Reservable Deposits included the government Deposits Since March 2009. Note :4 Both ( 14 & 30 day ID And 7 & 30 & 90 USD) deposits closed since March,1,2009Note :5 Starting from October 2009, the increasing in SDR is according to the IMF revised treatment of SDR Allocations in Monetary Statistics. Note :6, The MOF issued a non tradable bills to Rafidain & Rashid for some projects at 25th of August 2009 and at 10th of September 2009 respectively. So the MOF stopped issueing the Tbills of 91 days and replaced by one year and 182 days Tbills from Jan.2010.preliminaryMemorandom ItemsGrowth rate from previous monthBase moneyM1M2Exchange rate (ID/USD) in auction (daily average)Gross Foreign exchange assets of CBI Growth rate from previous six monthsBase moneyM1M2Exchange rate (ID/USD) in auction (daily average)Gross Foreign exchange assets of CBI Inflation(Monthly Growth)Inflation(6-months)Inflation(12-months)Core Inflation Year-over-Year Percentage ChangesFx assets/Base money(ratio)Excess Reserves/DepositsM2/Base Money (multiplier)Maybe someone can take a look and gather some insight off of it?V Link to comment Share on other sites More sharing options...
ronscarpa Posted April 12, 2010 Report Share Posted April 12, 2010 Null & void they can pay interest in usd; if they dont have enough our gov will give them moreIf I'm not mistaken, the US is sending Iraq US$1.2 Billion every 6 days. That should easily pay the IMF bill - However, the IMF agreement says "in their own int'l traded currency" (IQD). Oh well, we'll have to wait and see.............AGAIN...!RON Link to comment Share on other sites More sharing options...
dpsrmag Posted April 12, 2010 Report Share Posted April 12, 2010 Great research!Can't say I verry happy with what you found..... What happened to payment due on the 24th and only with dinar? Go figure.... Link to comment Share on other sites More sharing options...
dpsrmag Posted April 12, 2010 Report Share Posted April 12, 2010 However, the IMF agreement says "in their own int'l traded currency" (IQD).RON Can you post a link where it says that? Thanks. Link to comment Share on other sites More sharing options...
NotReallyTex Posted April 12, 2010 Report Share Posted April 12, 2010 I think certain people with their own agenda are the ones who have been saying they have to use their own currency. I still think someday there will be an RV but who knows when. With my luck it will after the end of this year. Link to comment Share on other sites More sharing options...
FMCC Posted April 13, 2010 Report Share Posted April 13, 2010 http://www.OnlineTaxRevolt.com/marchronbo62, do you file? Are you joining the tax revolt? I believe this has nothing to do with this thread ronbo62. Link to comment Share on other sites More sharing options...
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