Government adviser: the financial credit rating of Iraq announce next month

[yota691]

Government adviser: the financial credit rating of Iraq announce next month 

Author: Publisheron: June 19, 2015In: economyViews: 37 views

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Prime Minister for Economic Affairs adviser said the appearance of Mohammed Saleh, said that the financial credit rating of a government delegation which held talks about it in Turkey this week will announce next month its nature .

He said Saleh's (IMN) , that "the negotiations held between the Iraqi delegation and between Fitch and Rhodes delegation of international credit rating in Turkey this week will announce its findings in July next", noting that "countries will be her decision in rated credit financially granting Iraq ".

Saleh and predicted that "Iraq gets a good financial credit rating given the economic possibilities enjoyed by the country," adding that "halving the financial credit is a country's ability to pay its debts without lag or slowdown."

He added that "the government delegation assured the bargaining for the safety of the Iraqi economy."

Held Tuesday consultations session between the Iraqi delegation headed by the Minister of Finance Hochearzibara and between Fitch and Rhodes international credit rating within a bid for the Iraqi government to get more financial support and access to international capital markets and the issuance of sovereign bonds Iraqi government spokesman .

From: Haider al-Tamimi, editor: Ali Al-Shammari

 

[sandfly]

LETS SEE WHAT IT IS,,, I SAY A

[TLHUBER]

Doesn't "Next" mean "This" ?

[Jaygo]

Doesn't "Next" mean "This" ?

Good point. Was wondering the same thing.

[jobug38]

I say August with these people next means forever! Lol

[Officiallytook]

Sovereign ... Credit rating... Told you guys were at the banks...

so keep negging me who ever u are lol...neg me all the way to the bank...lol

everyone else...get ready for this ride to be over and the New one to begin. (Tips*Hat)

[jg1]

B+ i bet.

[Candy01]

A-FRICKING AMEN, jobug38!!

 

:bravo: :mad:

[Laid Back]

What I like about the credit rating is, we will know Iraq real numbers

My guess is B-

[pocono]

B+ and B- would be pretty good on an Algebra test but in the Bond rating arena anything less than BBB is considered non investment grade [ junk].

Let's hope Sandfly is correct.

 

Investopedia bond rating.

[skeetdog]

Thanks Yota....Hell, Why not...I'll go for a AA rating...

["Fred"]

Sovereign ... Credit rating... Told you guys were at the banks...

so keep negging me who ever u are lol...neg me all the way to the bank...lol

everyone else...get ready for this ride to be over and the New one to begin. (Tips*Hat)

Promise??

[Boozer]

Sovereign ... Credit rating... Told you guys were at the banks...

so keep negging me who ever u are lol...neg me all the way to the bank...lol

everyone else...get ready for this ride to be over and the New one to begin. (Tips*Hat)

We Still Need HCL.... don't hold your Breath  Just yet

[Wiljor]

Agreed Pocono, if its BBB- or higher, Im good.

[Officiallytook]

I understand boozer, but ... Who really knows what's passed and waiting to be implemented in this country, heres to the best.

[yota691]

Grade sovereign rating of Iraq announce next month

 

 

         

6/20/2015 0:00 

 BAGHDAD - Al-Sabah 

said the prime minister for economic affairs adviser appearance of Mohammed Saleh: The financial credit rating government delegation which held talks about it in Turkey last week will announce its nature month Almqubl.oukal Saleh (Center Brief for the Iraqi Media Network (IMN): "The negotiations were conducted between the Iraqi delegation and the delegation Fitch and Moody's international credit rating in Turkey will announce its results in next July, "noting that" countries will be her decision in rated credit financially give Iraq ". 

Saleh and predicted that "Iraq gets a good rating for financial credit given the economic possibilities enjoyed by the country, "he said, adding, that" halving the financial credit is a country's ability to pay its debts without lag or slowdown. "He added, that" the government delegation assured the bargaining for the safety of the Iraqi economy, ".oakdt Tuesday session of consultations between the Iraqi delegation headed by Finance Minister Hoshyar Zebari and Okalta Fitch and Moody's international credit rating within the Iraqi government effort to get more financial support and access to international capital markets and the issuance of sovereign bonds on behalf of the Iraqi government.

[Rabbi]

"Next" has ALWAYS meant "this" in these translations.  So "next July" means this July!  Iraq will have its first INTERNATIONAL credit rating with Fitch & Rhodes and Moody's since the 1980s.  This is HUGE!!!!  It opens Iraq to the world.  It will create a tremendous increase in demand for the IQD, regardless of the rating.  Obviously, the better the rating, the higher the increase in demand for the dinar.  But even if the rating is below "investment-grade" standards, there will still be investors willing to take the added risk for the potential added return.  The key here is going global.  This is equivalent to "going public" with the rest of the world's economies.  This is one of the factors that will cause the value (i.e., exchange rate) of the dinar to sling-shot upwards (as opposed to "floating").   

[pocono]

Is this any different from the 2006 bond offering?

Does the fact that Iraq is denominating these bonds in USD and not IQD concern anyone?

[tommyboy]

Is this any different from the 2006 bond offering?

Does the fact that Iraq is denominating these bonds in USD and not IQD concern anyone?

 

One thing has changed a lot. Iraq has a heck of a lot more gold than they ever had before to back their currency.

 

 

"Next" has ALWAYS meant "this" in these translations.  So "next July" means this July!  Iraq will have its first INTERNATIONAL credit rating with Fitch & Rhodes and Moody's since the 1980s.  This is HUGE!!!!  It opens Iraq to the world.  It will create a tremendous increase in demand for the IQD, regardless of the rating.  Obviously, the better the rating, the higher the increase in demand for the dinar.  But even if the rating is below "investment-grade" standards, there will still be investors willing to take the added risk for the potential added return.  The key here is going global.  This is equivalent to "going public" with the rest of the world's economies.  This is one of the factors that will cause the value (i.e., exchange rate) of the dinar to sling-shot upwards (as opposed to "floating").   

 

Gotta agree with everything Rabbi said. 

[pocono]

tommyboy,

 

Always interested in learning something.

If this bond offering and credit rating is going to have such a profound effect on the value and interest in the Dinar why does Iraq feel the need to guarantee the bonds in U.S. dollars rather than Dinar? They have the option to go either way.

[Candy01]

EXCELLENT question, Pocono!  Thanks for posting this!

 

Personally, I feel the bonds being issued in DOLLARS is BAD news for us!!

 

:rolleyes: :mad:

[yota691]

EXCELLENT question, Pocono!  Thanks for posting this!

 

Personally, I feel the bonds being issued in DOLLARS is BAD news for us!!

 

:rolleyes: :mad:

If they are paying Contractors..ie Oil Companies..using the Dollar would simplify the transaction... 

[yota691]

Abdul-Mahdi: Iraq is seeking to get the [credit] rating with reasonable raised by government bonds

History of edits:: 06.20.2015 10:34 p.m. • 476 visits readable

[baghdad-where] 
Oil Minister Adel Abdul-Mahdi said that "Iraq is seeking to get the [credit rating] reasonable."

Said Abdul-Mahdi said in a statement received by the agency all of Iraq [where] a copy of it "in the past week took place in Istanbul intensive meetings with two of the three global institutions for credit rating] [Fitch] and [Moody], not the third contribute to a , [which lowered the credit rating of the United States in 2011 from AAA grade to grade + AA], and three of the top international banks which [Citibank] and [JP Morgan and Deutsche Bank, all of that on the one hand, and the Iraqi Minister of Finance and Planning, oil and central bank governor and deputy national security adviser, as well as senior advisers and experts, lawyers for the parties involved. " 
He explained, "The aim calendar credit situation of Iraq, which is [not categorized] [NR, Not publicly rated], and this even lower than lower grades [D], ​​the higher grades are AAA, higher the rating, ahead whenever facilitated transactions rose admissibility and decreased interest rates, and vice versa, especially since Iraq is seeking to put government treasury bonds in international markets to enhance the finances in the face of market volatility, and Egypt, for example classified BB , and Iraq is seeking to get that rating or more. " 
He pointed out Abdul-Mahdi, that "Iraq missed for a long time for global markets, and led the wars and internal situation conflicting long to the collapse of the financial and economic reputation, especially after the accumulated debt and devastated the economic structure, and become a country totally dependent on oil, so the meetings were the necessity to seek the restoration of this situation. " 
He stressed, "There is no doubt that the most serious threat any country is drowning in debt .. But what is more dangerous than that to get the country economic infertility and stop the development process, and begin to produce increasing rates Poverty, ignorance, underdevelopment and unemployment, although the development mobilization process and starting internships, but this process will remain Off and truncated without markets and relationships and global transactions. " 
He added that "the world today - especially in the financial and economic buildings - is the world of structured, ie it controls the phenomenon and hidden, play the senior interests and countries Adora essential, decisions in these forums, in spite of all that is in them from the figures, information and professional, but also the decisions of the interests and impressions wrong and not necessarily an objective and fair decisions. " 
The oil minister said that "In any case, does not reflect the religion itself for malfunction as long as invested in the areas of development, investment and infrastructure or social services that develop the population and human resources, and as long as there check on the payment, the United States is one of the greatest economies, is also the largest debtor country in the world, and other major countries, the city of all, occupies the highest rates [rankings]. " 
And went, "it was to give the International Monetary Fund for Iraq in 2004 [crisis] loan, evidence of Iraq efficiency in the payment of its debts, infers the states and institutions in dealing with Iraq, which was a key step in the negotiations [Paris Club] for the greatest reduction in the average income earned by a country such as Iraq, ie 80-90% of the total 120-130 billion debt, so boast top international companies got high as loans, as a sign of confidence by the banks and their ability to repay and invest the money in growing areas. " end

[drj]

Sovereign ... Credit rating... Told you guys were at the banks...

so keep negging me who ever u are lol...neg me all the way to the bank...lol

everyone else...get ready for this ride to be over and the New one to begin. (Tips*Hat)

 

LIKE!

I understand boozer, but ... Who really knows what's passed and waiting to be implemented in this country, heres to the best.

 

I would have to agree, OT, Iraq will not provide any leads as to what is REALLY happening. 

[Officiallytook]

If they are paying Contractors..ie Oil Companies..using the Dollar would simplify the transaction... 

specially if they come out 1 - 1