The stock market announces the launch of the circulation of national bonds issued by the Central Bank of Iraq

[justchecking123]

Are they saying they're cool with the current exchange rate here?

 

Sounds like Abadi has it together. Smart and economically intelligent.

[Freedomwish]

We're getting there 

[DinarThug]

On 7/27/2017 at 5:44 PM, DinarThug said:

 

2 hours ago, Botzwana said:

Please! No fake Borat.  If you are going to do that, then post the real thing thuggie!

 

WTF - That's A Counterfeit Borat ?  

 

 

Luigi Must've Let That Phony Imposter BorRayRat In Here !  

 

     

 

[GregHi]

I think it's funny that the gurus were saying nobody is going to buy those bonds based on the current rate, so they will have to RV before they sell them... lol

[yota691]

A stable outlook for Iraqi international bonds

31/8/2017 12:00 am    Baghdad / Mustafa Al Hashemi Fitch and Standard & Poor's have agreed to raise the credit rating of Iraq to B with a stable outlook that strengthens the country's financial position in the global bond market. To a stable outlook, and Standard & Poor's recently granted Iraq a stable outlook. In 2017, Iraq issued two successive international sovereign debt instruments, which are linked to the international capital market. The first is the (Tigris) bond at a rate of 2.149 percent with a value of US $ 1 million issued by the US government. The second sovereign bond issued by the Iraqi government and its credit rating - B and carries interest at about 6.75 percent, which is lower than the Iraqi international bond traded in the secondary secondary markets since 2006.                                     According to the academic economist d. The credit rating agency Standard & Poor's has given Iraq a stable outlook, indicating that the agency has confirmed its credit rating to Iraq at B- / B with a stable outlook. At the same time, it is expected that the impact of oil production cuts on Iraq's economic growth in 2017 .  He Mahouelle "morning": the agency attributed the reason for granting a stable look to Iraq, to the expectations of continued efforts to control expenditures in the next few years, stressing that the classification receives support from the Iraqi oil production is concentrated in the areas under the firm control of the federal government.  According to a statement by the Fitch Foundation, it identified the bonds issued by Iraq at the valuation of B, explaining that this assessment is consistent with the long-term credit rating of the country's foreign currency. "The rating of bonds will be sensitive to long-term foreign currency changes, which is why the institution has long ago revised its rating from negative to a stable outlook."  The prime minister's finance adviser, Mohammed Saleh, said earlier that Iraq had issued the foreign sovereign bond (Euphrates) in the international capital market, which is payable after five years and a 6.75 percent interest paid every six months.

[DinarThug]

CNN. Broadcasting With A Loaded Squirt Gun In Case This Thread Gets Hijacked !

 

 

 

(by don961)

Al-Alaq for Sabah: The country is not threatened with bankruptcy according to international standards

31/8/2017 12:00 am 

International praise for the government's reform measures

Baghdad / Tareq al-Araji

The governor of the Central Bank of Iraq Ali al-Alaq, that the Bank and the International Monetary Fund praised the reform measures in the monetary and financial policies conducted by the government and central alike, indicating that more than 250 companies of different nationalities competed for the purchase of international treasury bonds launched by Iraq recently.

Interview with «morning»: «The law of the general budget for the current year guarantee the issuance of international bonds worth two billion dollars as part of the coverage of the deficit in the budget of 2017», noting that «the first billion was issued with a guarantee from the US government, which helped to reduce the interest rate to the limit of 2 Percent Iraq needed this type of guarantee so that the bonds of the second meal, which is worth two billion, can also be issued at a higher interest rate than the first, and when the interest is collected, the interest is acceptable and does not constitute a burden on the public treasury of the state. "We were surprised by the volume of turnout and the willingness to buy treasury bonds for the second billion dollars when they were put on the global financial market as more than 250 international financial companies from America, Europe and Asia filed applications amounting to 6.5 billion dollars and the interest rate stood at 6.75 percent, The interest rate is expected to be more than 8 percent, "he said." When you raise the 6 percent, the second interest rate with 2 percent, the first interest rate and divide it by 2, for two billion, the total interest rate is 4 percent, which is acceptable. 2014 was the interest rate that I applied With these companies more than 11 percent, which led us to refrain from issuing bonds at the time because the interest rate was high». 

On the impact of global companies' appetite and their desire to buy treasury bonds on the financial and economic situation of Iraq, the Governor of the Central Bank that «gave an indication of the recovery of the Iraqi economy and the confidence of these companies have been raised during the meetings of promotional bonds with the 250 companies questions on the economic, The country to the Iraqi Committee, headed by the Governor of the Central Bank of the membership of the Ministry of Finance and the Prime Minister's Office, and the Committee provided answers to these companies backed by data was highly reliable and reinforced the reports of the International Monetary Fund, The nature of the sources of these reports gave credibility and a good impression of all companies and there was a focus on monetary policy because it is matters of the investor in terms of the exchange rate of the dollar and the cash reserve and the volume of debt and others, as well as the extent of the commitment of the borders and ceilings. That helped to make this a success

"I can proudly say that the Central Bank had fully met the requirements of the Fund and was fully in line with the indicators set by the Fund in terms of reserves and exchange rate and audit the accounts of the Central Bank internationally and the significant development of the Bank's procedures in banking supervision and combating money laundering and terrorism financing and other points that Was the focus of the fund ».

"The size of debt in the international standard is relative to GDP, and this ratio according to the capabilities of countries may reach 100 percent in some developed countries," he said. In Iraq, according to the international standard, the ratio so far within 60 percent of gross domestic product », adding that« when analyzing the debt of Iraq, we find that 45 billion dollars of them back to before 2003 and most of the Gulf countries, especially Saudi Arabia and these countries gave signals in On several occasions that it did not demand Iraq to block So far, some of these countries have noted their consent to settle them, so when talking about public debt, we must put about 45 billion in isolation because these debts in the worst case will be settled at the Paris Club and under which to pay 10 percent of the amounts or perhaps extinguish » .

"The pessimistic analysis did not distinguish between the so-called" obnoxious "debts of pre-2003 that should be subject to certain adjustments that have not been made so far. When we exclude these debts, we will see that we are still within the acceptable limits of international debt General. 

He pointed out that the «central bank has debts on the state up to 16 trillion dinars and the bulk of the domestic debt is under control and does not consume the budget of Iraq or lead to bankruptcy», indicating «calculate the ability of the country to bear debt through the annual installment required of the size The total size may be a little but is required for a short period may be large but for long periods and for us the benefits of external debt up to one billion dollars a year and this is affordable and the premiums of the entire domestic debt of up to 5 trillions dinars and repayment of external loan installments 400 million dollars a year rise in Age Wat the next ».

There are countries that are unable to pay their obligations and then solutions are developed to address this deficit, but we are called upon to take necessary precautions and strengthen the financial situation of the country for the years to come », noting that« the year 2016 was a great shock could not be absorbed To ease the price of oil and therefore was to adapt to this situation is almost impossible, but then began some of the measures taken by the government to adjust through the pressure of expenditure and increase domestic revenue is required to plan properly, does not expose the country to financial pressures or crises and reconsider the structure of We call for controlling the resources of the state and preventing its access to the pockets of corrupt and manipulators. Unfortunately, the contribution of tax and customs revenues to the budget is weak.

"We have relations with all the central and international Arab banks in particular and we meet within the framework of the Arab Monetary Fund as governors and we meet in different international financial institutions. The meeting and coordination in some matters with Saudi Arabia is far from Political issues and the issue of debt cancellation or settlement of a political issue par excellence, and therefore expect that the improvement of relations with other countries, especially the Gulf and Saudi Arabia provides an appropriate framework to resolve this issue ».

And the calls for devaluation of the dinar against the US dollar to stop waste in hard currency, Al-Aalak said that «the subject put on several occasions and at various levels and was carefully studied by the Central Bank and consultation with the International Monetary Fund about him», noting that «the Central Bank of Iraq takes a look We are aware that the income of a large percentage of Iraqis comes from the government salary. If the value of the dinar is reduced, the purchasing power of a large number of Iraqi families will drop as if we imposed a tax on all citizens regardless of Their standard of living, which will hurt everyone, especially those working in the government service, and the reduction would be provided only a small amount ».

"Monetary policy is not built on the basis of events or emergency crises, but we must take them on a path in medium and long-term calculations. For us, we do not resort to adjusting the value of the currency whenever the price of oil falls," he said. Foreign currency and his job and mission to fill the shortage of crises to go beyond the stage and this is what happened in 2009 ».

"Central bank investments are denominated in foreign currencies, gold and treasury bonds. These are primarily risk-free and have central banks or banks rated first in the world. We deal with the US Federal Reserve Bank and the banks of London, France and Holland," he said. And Australia is now looking for investment in the Chinese currency », pointing out that« there is a base in the investment that the more the degree of risk little or no, the return is little and therefore the nature of our investments are free of risk and the return is very limited ».

"There is room for maneuver and diligence within certain limits that may create a difference, such as investment in gold, which may rise and is a good return or not rise, and we intend to store it," he said, adding that "we thought that we do not pay for gold, "We are making a small profit and we have achieved success by investing in the Islamic Development Bank.

LINK

[Half Crazy Runner]

Well, I like the fact that they used the word "international" at least 13 times in this article...

 

[10 YEARS LATER]

Make up your minds ! One minute the sky is falling with a crisis lurking behind every corner, then it's the Alfred E. Newman - "What, Me Worry?"

 

of couse we're wise to it. . . .  They just keep trying it on,- Bone heads.

[yota691]

International bonds: Iraq, 5.80% 15jan2028, USD
(XS0240295575)

Status	Country of risk	Maturity (option)	Amount i	Issue ratings (M/S&P/F)
outstanding	Iraq	**/**/****	2,700,000,000 USD	***/***/***

[yota691]

Bond Chart Analysis

[ChuckFinley]

Thanks Yota, I like those charts.  

[yota691]

Global bond markets are rebounding

09/9/2017 12:00 am  Due to weak debt costs  Capital / follow-up on the morning  The global bond markets are witnessing the return of the issuance of several countries that had until recently suffered from economic crises that reached the level of debt default, as investors seek better returns without considering creditworthiness.  Countries with non-investment credit ratings (weak) tended to borrow from global markets, taking advantage of low debt costs.  While investors have always been accustomed to punishing countries that do not have strong creditworthiness by increasing the benefits required to lend, the current situation is changing as borrowing costs of poorly rated countries decline.  The decline in borrowing costs is one of the main reasons for the issuance of bonds in low-credit countries, encouraging countries whose economy is deteriorating to issue international bonds. The downward trend in Treasury bond yields began in 2014, driven by increased global external demand, which coincided with the ECB announcement in the same year of the launch of the quantitative easing program.  The yield on 10-year German bonds fell in 2014 from 1.95 percent to 0.55 percent at the end of the year, and in Japan, the yield fell 0.35 percent.  Rising demand for US bond markets contributed to a 10-year decline in 10-year debt yields and a 30-year decline of 80-120 points respectively.  Argentina is one of the countries with debt problems. Nevertheless, it succeeded in marketing this year  100-year dollar bonds and managed to sell $ 2.75 billion worth of bonds at a yield of 7.125 percent. Received bids exceeding the required value. In the same context, it is reported that Ukraine is planning to return to the dollar-denominated sovereign bond market after a three-year hiatus. Ukraine also defaulted on its debts in 2014 and demanded a 20 percent debt reduction, I have already borrowed it for 4 years.  Greece decided last July to return to the government bond market after three years of disruption, through the issuance of bonds for 5 years.  The Athens stock exchange called on shareholders with a yield of 4.75 percent, maturing in 2019, to exchange for notes.  Non-investment-grade African countries have benefited from a decline in bond yields in developed economies due to quantitative easing programs, with the cost of borrowing declining despite economic problems. The average yield on US dollar bonds was 6.14 percent at the beginning of August, the lowest level since 2015.

[DinarThug]

CNN. Broadcasting While The CBI Receives A Boy Scout Merit Badge For Achieving An Achievement !

 

 

Iraq has achieved a major achievement in the launch of foreign bonds
10/10/2017 12:00 am

BAGHDAD / Tariq al-Araji
The Central Bank of Iraq expressed its readiness to launch foreign Treasury bonds in the event that the next year's budget requires 2018 after the Central Bank achieved great success in the issuance of foreign bonds through the previous global confidence gained in dealing with Iraq, revealing the high reserve bank of foreign currency compared to With the previous year.

Governor of the Central Bank d. Ali Al-Allaq said that the launch of such bonds may have a positive impact on the reserves of the Central Bank, considering that the amounts received in foreign currency, if not have a positive impact does not have a negative impact, because the dollar bonds are transferred by the Ministry of Finance to the dinar by The Central Bank is the case is neutral, and there is no negative impact, but positive, as it is a strengthening of the reserves of the Central, which is the agent of the government and manages such operations. Positive indicators

"The decision to launch the bonds is not done by the government through the public budget because it is launched only by law, and there are positive indicators in the case of the need to issue such bonds, and there is a successful experiment if it is decided in the budget for 2018 there will be foreign bonds.

The Central Bank has succeeded in performing its tasks through internationally known indicators through the rate of inflation and maintain the exchange rate and reserves.

He said: There has been a state of adjustment to the financial situation of the country, and there was a shock in 2016 difficult to adjust directly, so the central bank tried to bridge the gap and the deficit and the large deficit, to absorb this shock by playing a key role in coordination with the government to overcome this shortage And has been able to deduct money transfers in very large amounts now with the state of adjustment and measures taken by the government to control expenditure and increase domestic revenues and not to resort to the Central Bank so far this year to buy money transfers or other. The price of oil improved and stressed that this helped the Central Bank to maintain the level of reserves, which did not fall during 2017 compared

By 2016. The improvement in oil prices was a factor in addition to the reduction of government expenditures because the government did not resort to the central bank to buy treasury transfers, although this was found in the budget law and part of the deficit covered through the purchase of the Central Bank of remittances, but so far has not resorted to this government
Option.

He said that the central bank's reserve now stood at 48 billion and the previous year fell to 45 billion. Therefore, this level of inflation and reserves currently measured by international standards as reserves convenient for Iraq compared to the local currency, which exceeded the expectations of the International Monetary Fund for reserves of more than 7 billion dollars In addition to the Fund's expectations and estimates. External financing is an option

He pointed out that the resort to external financing is one of the options included in the deficit coverage, because the size of domestic domestic debt reached high levels difficult to expand, because this affects the liquidity of banks that buy part of the remittances of the treasury and options to cover the deficit and what is discussed At the present time, the size of the possibility of external financing through issuing international bonds and issuing them in the future has not been determined or encouraged, due to the large demand in the volume of demand which was on the bonds provided by Iraq, which amounted to six or seven times the amount required in addition to the large number of institutions and international banks It requested an increase in the amount of bonds but the amount was within the limits of the state budget.

LINK

[NEPatriotsFan1]

Sounds promising, Thugs...... I hope that the internationalization happens before the end of 17

[Gypsygirl11]

Your on fire today Thuggie

[WISKY291]

Thanks, Thug. Nice post

[10 YEARS LATER]

1 hour ago, DinarThug said:

Oil deal with ExxonMobil
10/10/2017 

BAGHDAD (Reuters) -
Iraq's talks with US oil giant ExxonMobil to develop a multi-billion dollar project aimed at boosting production from several southern oil fields are drawing to a close, Oil Minister Jabbar al-Allaibi said on Monday.

"The talks are in final stages of progress with the company to develop and finance the important southern project," Al-Luaibi told reporters after meeting with a company delegation in Baghdad.

The improved extraction project targets the fields of Al-Lahis, Nasiriyah, Al-Tuba, Nahr Ben Omar and Artawi.

LINK

Thundering Jehoesafat ! Schmooozing with ExxonMobil ain't no small taters here ! BIG NEWS ! ! ! Thanx DT 

[10 YEARS LATER]

58 minutes ago, Gypsygirl11 said:

Your on fire today Thuggie

 

" Your on " fire " today Thuggie " . . . perhaps he's only somewhat crispy around the edges. 

 

Thug is definitely Finding the great articles, huh.

 

[siberian_shaddow]

Much Appreciated Thugs, +1 for everyone.  I would like to see what there next credit rating will be. Iraq is definitely looking and sounding more and more promising. 

Edited October 10, 2017 by siberian_shaddow

[siberian_shaddow]

1 hour ago, Gypsygirl11 said:

Your on fire today Thuggie

Normally a clown and fire probably wouldn't be a good idea, but Thugs has a way to bring the flames without burning himself or others, keep bringing it 

[DinarThug]

1 hour ago, Gypsygirl11 said:

Your on fire today Thuggie

 

2 minutes ago, siberian_shaddow said:

Thugs has a way to bring the flames without burning himself or others

 

With All This Clown Makeup - Some Peeps Think I'm The One That's Flaming !  

 

     

[siberian_shaddow]

Lol even us straight guys love you Thugs, 

Edited October 10, 2017 by siberian_shaddow

[blueskyline]

That's one camel tail kicking clown tonight !!!!!

[yota691]

Central Bank announces the rise of foreign currency reserves to 3 billion dollars this year

 

 From 2017-10-10 at 12:17 (Baghdad time)

Baghdad Mawazine News

The governor of the Central Bank, Ali Alalak, that the cash reserve of foreign currency increased 3 billion dollars during the current year.

Al-Alaq said in a press statement that "the Central Bank reserves now 48 billion and the previous year fell to 45 billion," explaining that "the level of inflation and reserves are convenient for Iraq."

He added that "the launch of bonds may have a positive impact on the reserves of the Central Bank as the amounts received in foreign currency, and if it does not have a positive impact does not have a negative impact, because against the bonds that are in dollars, the Ministry of Finance transferred to the dinar by the bank The situation is neutral, and there is no negative impact, but positive, as it is a strengthening of the reserves of the Central, which is an agent of the government and manages such operations.

"The decision to launch bonds is not made by the government through the public budget because it is not launched only by law, there are positive indicators in the case of the need to issue such bonds, and there is a successful experiment if it is decided in the budget for the year 2018 that there are foreign bonds" .

He pointed out that "recourse to external financing is one of the options to cover the deficit, because the size of domestic domestic debt reached high levels difficult to expand, because it affects the liquidity of banks that buy part of the remittances of the treasury."

 

[Big_J]