IRAQ SAID TO BE PLANNING A SECOND $1 BILLION BOND ISSUE

[nannab]

Nothing to be sorry for we all get carried away at one time or

 another it's more fun that way. 

[climber7]

2 hours ago, hi-five said:

Do you all remember Scooter?   He hasn't been around dinar-land for a few years, but he used to do interviews --   Here is an excerpt from an interview done 4/25/12 regarding bonds:

This first part talks about privatizing the two government banks which I believe has been, for the most part, done. 

Scooter-EG] those spreadsheets are directly from the Ministry of Finance site  What you’ll find are the two budgets I spoke of earlier  so the question comes about now is what happens next  well — there’s two items that are big ones for me one  those two government banks — Rafadain and Rasheed need to be Devalued to todays level  once that’s completed — the IMF will raise their capital to the right amounts

 [Scooter-EG] see what happend is this  back during the Saddam era  the value of those assets were calculated at the $3.21 rate  and those assets are still on the Balance sheets at that level  and it’s completely incorrect  so for example  the Rafadain bank shows Assets of 371 Trillion IQD  when in reality it’s really closer to 40 trillion IQD

[Scooter-EG] These banks do over 90% of all transactions  don’t be frightend by this lower number  this is a good thing  It’s the primary reason they haven’t progressed farther then they are right now

[Scooter-EG] Nevertheless, that will be taken care of  but it is funny that the TBI now has a higher value than the Rasheed bank 

Now to the bond market  If you look at the CR reports of the past from the IMF  They made it abundantly clear they (Iraq) must Privatize those SOE’s State Owned Enterprises  approximately 108 of them

[Scooter-EG] these are the big insurance companies, utility companies, power companies  those companies are the same companies that will form their BOND market  and so the question for most is why is that important to my investment? -- simple

 the primary bond market provides the liquidity for the government  and pays for any type of increases in monetary value  that may or may not occur  in the future when the primary Bond market is built  then the international players can come in to form the secondary bond market

those Bond markets are CRITICAL to our scenario  some of this has been done —

 

So, according to Scooter back in 2012, the Bond issue was something to look for, as it is key to the monetary reform.  This is great news!

 

 ,

So what happened to Scooter?

Why isn't he posting anymore? 

[Tubbs]

1 hour ago, climber7 said:

So what happened to Scooter?

Why isn't he posting anymore? 

Thank you for Scooters history and thoughts. i miss his post

If your lurking please say hi

[yota691]

 

Iraq and the United States sign agreement to ensure the sovereign loan worth billion dollars

Posted by: admin2  in the security  of January 7, 2017 0  15 visit

 

BAGHDAD / SNG

It announced that the US Embassy in Baghdad for the completion of the first step to ensure the sovereign loan worth billion dollars for Iraq.

According to a statement of the embassy SNG received a copy of it, that " the Iraqi government today signed an agreement loan guarantee with the United States , " noting that "this signing is the first step in the process that would allow Iraq to a greater opportunity to enter the international capital markets." 
He noted that "Following the fulfillment of legal requirements and taking into consideration the specific actions, Iraq can move forward to become the beneficiary of a sovereign loan guarantee from the United States." 
The statement said, " The loan is secured by confirming a permanent commitment from the United States to the people and Government of Iraq in their battle against Daesh" pointing out that "is designed to ensure the loan this to support Iraq financially in his quest Gahd to complete the liberation of Iraq from Daesh and continue the important economic reforms in order to restore growth and prosperity. " 
And that " the signing , which took place today is the first step to put the finishing touches on the sovereign guarantee of the loan." 
" The second step in the formal exchange of diplomatic memoranda between the United States and the Government of Iraq 's government under which included the United States Government are summarized repay the amount borrowed and the interest of the issuance of guaranteed financial sovereign by the Government of Iraq , including a total of billion dollars , " expected " to proceed with the second step of the process in the coming weeks. " 
She stressed the Chargé d'affaires of the Embassy of the United States Stephanie Williams, during the signing ceremony, the solidarity of the people and the Government of the United States with the people and Government of Iraq , saying : "This money will help the Iraqi government on food, water, shelter and medical care to the most vulnerable Iraqis to provide and allow them to benefit from government services such as education and health care that enables them to build a promising a brighter future. " 
The US embassy that " the loan guarantee agreement in this day shows that Iraq continues to progress towards achieving its objectives in the economic reform for the benefit of the Iraqi people, under the Strategic Framework Agreement, Embassy of the United States is working closely with the Government of Iraq to ensure that the current economic challenges do not affect the campaign continuing to defeat Bdaash "he said . " as a sovereign loan guarantee provides additional support to Iraq as a strategic partner stable , self - reliant United States of America. "

[moneysoon]

Morning Yota,

"So Mote It Be"

[Wiljor]

IRAQ TO GET $1 BILLION LOAN FROM U.S. FOR PUBLIC SERVICES, REFORM PLAN

Iraq, January 7, 2017 Iraqi governmental officials took the first step of borrowing up to $1 billion from the United States on Thursday to alleviate the country’s financial crisis, help reform plans and provide public services. “These funds will help the Government of Iraq provide food, water, shelter, and medical care to the most vulnerable Iraqis as well as allow Iraqis to benefit from government services, such as education, that prepare them for a bright and fulfilling future,” said Stephanie Williams, the US Embassy in Baghdad’s Chargé d’Affaires, after co-signing the agreement in Baghdad. Baghdad must fulfill legal requirements and policy considerations prior to securing the loan, which could allow “Iraq to obtain greater access to international capital markets,” according to an embassy press release.  “This loan guarantee is designed to financially support Iraq as it strives to complete the liberation of Iraq from (IS) and pursue important economic reforms to restore growth and prosperity,” William said. The United States is leading a global coalition to assist Iraqis in expelling IS from the country. Additionally, the two countries must formally exchange diplomatic notes, a step that should occur in the next few weeks according to the press release. “The loan guarantee agreement recognizes that Iraq continues to make progress toward meeting its economic reform goals,” Iraqi Deputy Minister of Finance Fadhil Nabi said following the signing of the agreement. In early December, the Iraqi parliament approved a 100.67 trillion Iraqi dinars (about $85 billion) budget for 2017, based on projections of an oil price of $42 per barrel. It forecast a deficit of 21.7 trillion dinars ($19 billion) and spending of 100.7 trillion dinars. Previous foreign financial aid to Iraq have stipulated that the Kurdistan Region must get its share, though the embassy statement did not mention if any of the loan was to go = to the Kurdistan Regional Government (KRG). The governments of Iraq and the KRG have been embroiled over budget disputes since 2014.   ekurd http://iraqdailyjournal.com/story-z14570870

[MyLadiesDaddy]

13 hours ago, ChuckFinley said:

Look to your right, that's me praying right there with you.   come on $3,23.  

While you're praying my friend don't forget to ask God for America's Blessing and for Donald Trump 

[climber7]

12 hours ago, Botzwana said:

Scooter got upset at something.  left here.  Went to Mr. Rich´s lop site. That site lasted about 2 weeks and it was gone.  That was it.

 

So,if he went to a lop site,does that mean he switched opinions and believed it will lop now? 

[Synopsis]

Thank You, Wiljor, for posting this excellent article!  

The article states, "Baghdad must fulfill legal requirements and policy considerations prior to securing the loan, which could allow “Iraq to obtain greater access to international capital markets,” according to an embassy press release. 

“This loan guarantee is designed to financially support Iraq as it strives to complete the liberation of Iraq from (IS) and pursue important economic reforms to restore growth and prosperity,” William said.

The United States is leading a global coalition to assist Iraqis in expelling IS from the country.

Additionally, the two countries must formally exchange diplomatic notes, a step that should occur in the next few weeks according to the press release.

“The loan guarantee agreement recognizes that Iraq continues to make progress toward meeting its economic reform goals,” Iraqi Deputy Minister of Finance Fadhil Nabi said following the signing of the agreement."

I may be overly optimistic about this article but it really seems as if it has some very telling news.

Where did this 1 billion USD loan from the US come from?  I don't remember seeing this loan even proposed until just recently.  So why is it even offered?  Looks like Baghdad still has to fulfill legal requirements and policy considerations before getting the loan.  The loan is to allow Iraq to obtain greater access to international capital markets.  Is the loan an aid to get Iraq into the WTO?  I may be stretching it here but looking at "legal requirements" and "policy considerations" to get the loan then "greater access to international capital markets" may be code speak for revaluing the IQD to ascend to the WTO.  Yeah, I know, I may be stretching it here.

Subsequent to acquiring the loan, looks like important economic reforms will be implemented to restore growth and prosperity as the liberation of Iraq from IS is being completed.  This may suggest that IS does not have to be completely stamped out of Iraq before all the economic reforms are implemented and growth and prosperity is starting to be restored.  I suspect, however, Mosul, being a major city center, will have to be fully wrested from IS.

Presently, the US is intent on IS expulsion from Iraq and may be sending a strong signal to Iraq to align on getting the remaining requirements fulfilled.

Looks like some formal diplomatic transition still needs to occur between the US and Iraq.  Possibly the US recognizing Iraq as a peace time ally with a subsequent change in diplomatic status?  Could this be needed before Iraq ascends to the WTO as an independent and sovereign nation outside of the US direct protection on various venues such as the Development Fund for Iraq?  Could this change be necessary to implement the HCL?  Here is an excerpt from EO 13303:

Section 1. Unless licensed or otherwise authorized pursuant to this order, any attachment, judgment, decree, lien, execution, garnishment, or other judicial process is prohibited, and shall be deemed null and void, with respect to the following: (a) the Development Fund for Iraq, and (b) all Iraqi petroleum and petroleum products, and interests therein, and proceeds, obligations, or any financial instruments of any nature whatsoever arising from or related to the sale or marketing thereof, and interests therein, in which any foreign country or a national thereof has any interest, that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of United States persons.

Could there be a time limitation to implement the 1 billion USD loan requirements like "in the next few weeks"?  I take a few weeks to mean three or four (in US terms not Iraqi terms) since the US is supplying the loan, looks like the US gets to set the timing.  This would be on or before Saturday, February 3, 2017.  A few things should be in place.  One, Mosul should be fully wrested from ISIS and the heat aught to be heavy on the remaining ISIS held areas.  Two, Parliament aught to have the fire high on their hinders and the needed laws are being passed and implemented like never before.  Third, Donald will be inaugurated and will be asking, "Where's the Money?" or he may just tell them "YOU'RE FIRED!"

Yep.  Change is a comin'!

Well, OK, just my opinion and 

[MyLadiesDaddy]

May the Lord bless your opine. 

[Synopsis]

Just now, ladyGrace'sDaddy said:

May the Lord bless your opine. 

Well, OK, LadyGrace'sDaddy!  Sorry if you had to suffer through it!  

[MyLadiesDaddy]

Any opine from you, my dear friend, is pure pleasure 

[Synopsis]

5 minutes ago, ladyGrace'sDaddy said:

Any opine from you, my dear friend, is pure pleasure 

Hopefully, we all won't be opining here much longer!   

[ChuckFinley]

I am not saying it gets done here in Jan, but 2017 has all the makings of a happy ending for all. This is just one of many examples      Of Iraq setting the ground work for entering the global market.  

[Wiljor]

1 hour ago, ladyGrace'sDaddy said:

Any opine from you, my dear friend, is pure pleasure 

Yeeeaaaa babe 

[yota691]

 

US: Baghdad only got loan guarantees not cash in recent agreement

By Rudaw 6 hours ago

Stephanie Williams, the US Embassy in Baghdad’s Chargé d'Affaires signing a loan guarantee agreement with Fadhil Nabi, the Iraqi deputy minister of finance, January 5, 2017. Photo: US Embassy Baghdad.

WASHINGTON, D.C. — US State Department Spokesman John Kirby said on Friday that the Kurdistan Region should receive revenues from the Iraqi government pursuant to the constitution, and that Thursday’s agreement in Baghdad was a loan guarantee agreement, not a direct loan from the United States to Iraq.
 
“Back in December, just last month, the Government of Iraq did approve a budget that would provide for the Kurdistan Regional Government (KRG) to receive federal revenues consistent with Article 121 of the Iraqi constitution and requirements in the budget law,” Kirby said in response to the question if there was “any understanding, formal or informal, about allocating part of that loan for the benefit of the Kurdistan Region.”
 
Article 121 of the Iraqi Constitution stipulates how the federal budget should be shared with regions and governorates. Budget sharing has been a point of contention between Baghdad and Erbil for a number of years particularly since early 2014.
 
Kirby clarified that Thursday’s agreement signed by Stephanie Williams, the US Embassy in Baghdad’s Chargé d'Affaires, and Iraqi Deputy Minister of Finance Fadhil Nabi was simply a loan guarantee agreement, not the implementation of a loan from the United States to Iraq.
 
“There wasn’t a loan to Iraq of a billion dollars,” Kirby said. “What there was yesterday was that the United States signed a loan guarantee agreement with Iraq for up to a billion dollars.
 
“And a loan guarantee is much different than a loan. What this does is it makes it more affordable for the Government of Iraq to be able to borrow money from international capital markets.”
 
In early December, the Iraqi parliament approved a 100.67 trillion Iraqi dinars (about $85 billion) budget for 2017. It forecasted a deficit of 21.7 trillion dinars ($19 billion) and spending of 100.7 trillion dinars.

[SnowGlobe7]

20 hours ago, copper13 said:

I'm not even going to mention chin nuts!🥜🥜🥜😂

 

ok I have to stop! I got carried away... to much excitement 😊 Sorry...

or the 

[SnowGlobe7]

as far as scooter. I learned a ton from him  TON

Watching him talk to different people but always at their level

and with a ton of patience

I believe I heard he sold his dinar.

 

 

[climber7]

40 minutes ago, SnowGlobe7 said:

as far as scooter. I learned a ton from him  TON

Watching him talk to different people but always at their level

and with a ton of patience

I believe I heard he sold his dinar.

 

 

 

Crap. Someone that knowledgable selling their dinar isn't a very good sign. 

Thanks for the honest reply. 

[copper13]

52 minutes ago, SnowGlobe7 said:

or the 

Dear Lord! He looks like my uncle D*ck?

Edited January 8, 2017 by copper13

[yota691]

Parliamentary Finance: US loan would be allocated to cover the salaries of staff 08/01/2017 14:40  BAGHDAD / tomorrow Press: Parliamentary Finance Committee announced on Sunday, for the US sovereign loan, which occurred a few days ago will be allocated for infrastructure will be allocated to cover the employees' salaries. He said the Commission decision of Hama Rashid Ahmed for "tomorrow's Press," that "the sovereign loan which was signed by representatives of the Iraqi Ministry of Finance and the Government of the United States represented by its embassy in Iraq will be supportive of Iraq's economic growth in the current financial stayed with him."  He said Rashid said "the loan will not be allocated to cover salaries, but would be supportive of infrastructure and the need, particularly in the areas liberated from the grip of Daesh terrorist," noting that "the Commission will follow up with the Ministry of fiscal steps to grant the loan and the way purely accurately."  The Government of Iraq signed Thursday January 5, 2016 on the loan guarantee agreement with the United States one billion dollars.

[Reelemfast]

I guess I need to take this Dinar thing, a little more serious. My kids use my Dinar to play Monopoly game. For years now. I've got a lot of it. I gave up on that stuff ALONG TIME AGO...........   The dog chewed a lot of it up. They still play with it.... It makes great Monopoly money.......  You people are ate up with this crap....... Geeeez..   Get a life........  Iraq ????  Get real.......Geeeezz...

[Wiljor]

I smell smoke 

 

The US loans cannot help, Majida Tamimi claims

Iraq, January 8, 2017  A member of the Iraqi parliament has revealed that there is no budget left in Iraq’s treasury as the result of financial mismanagement in the federal government.   MP Majida Tamimi on Saturday posted on his Facebook account that lack of strong determination and a deep understanding for the economic situation has led the Iraqi government to the current crisis with an empty treasury.   Concerning a $1 billion worth of loan which the US has recently offered Iraq, the MP says the economic situation is far worse that even this loan cannot help.   She claimed that government has wasted “several billions of dollars” as the result of its mismanagement and corrupt governance.   basnews http://iraqdailyjournal.com/story-z14575001

[Kraidle]

What party is she with? Where is the proof of this? Is she a reliable source within the Iraqi government?

I don't know who this woman is, and I doubt that so many countries would be loaning Iraq so much cash with a completely empty treasury.

[jeepguy]

I hear you, some of these folks fall out of the wood work, with economic supply and the lack of resources to uphold the government or the state of Iraq....   I would imagine,that if this person is with any thing alongside of central bank operations, they have looked at the numbers after they made the payment to all provience... Which was over 4 trillion...  So this would cause a novice to panic...