Paris Debt's tie to a RV

[BobbyBuns]

I keep reading posts that say that Iraq must RV by EOY or they will have to repay all the forgiven debt by the Paris Club. Can anyone produce an article that says this is the case? I'm gonna go workout now so hopefully when I get back someone will have some documentation for me since I have yet to be able to find it clearly stated that way. Hope you all are having a great morning, afternoon or evening wherever you are!!!

[davidsto]

IT'S VERY LONG AND COMPLICATED!!

[Happy Man]

IT'S VERY LONG AND COMPLICATED!!

You have the time to explain....

from what I see in the picture he is doing a very long work out...

[Carrello]

You could not have looked for information on the Paris Iraq debt, or you cannot do a simple task like Google Paris Iraq Debt. What a phoney. Go work out and leave the rest of us to pander to your narcistic state? Right.

I have asked questions, other members have asked question and requested help. Nobody minds. We are here to help each other. But someone like you is really something. Who do you think you are? When you can add something to the conversation, let us know.

And you are trying to advertise Nutrifit on this site. All the reason not to buy it.

Yeah, yeah, I know someone is going to bash me and say I am mean. But I got it off my chest and this Buns guy has bothered me for a while.

There, it is done....

[jte70]

DISCLAIMER: THIS IS FROM A 2003 OR 4 DOCUMENT

LINK TO US Dept. of State DOCUMENT

Under traditional Paris Club guidelines, Iraq’s petroleum and gas reserves would

render it ineligible for debt relief. According to the new Evian Approach, a country

seeking debt relief will first undergo an IMF debt analysis. This analysis is to determine

whether the country suffers from a liquidity problem, a sustainability problem, or both.

The Iraqi economy is dependent on it petroleum revenues. Although the U.S. government

projects exports of $16.6 billion in 2004, and $21.2 billion in 2005, the very large amount

of Iraq’s debt, $120 billion, raises concerns.14 Debt servicing draws money away from

reconstruction efforts, and is a disincentive for many to invest in Iraq. Iraq’s annual debt

service without any debt relief would be $7.2 billion a year, or 37% of its estimated 2004

gross domestic product, according to credit rating agency Fitch/IBCA.15

... but it looks to me like debt relief has more to do with drawing investors than RV. Not that I'm a financial analyst but maybe we can find something from this point.

Here is a more current document from the Dept of State Web site.

And the CRS report from 2009

Edited December 27, 2010 by jte70

[BobbyBuns]

What is wrong with all you hateful people here? I asked a simple question because it is a topic people bring up every day as if the two are tied hand in hand. Knowledge is gained by asking questions, not by simply entering it into Google, where most information is incorrect. As far as promoting my business, I simply placed a logo ON MY PROFILE because I was proud of it. Do you really think that I believe that 1500 people on a forum completely unrelated to my business will have any affect on my sales here in AZ. Sorry if it offended you but maybe that's because instead on contributing this country by helping add to the GDP you sit on a forum and wait for the day you can continue to do what you probably do now, sit on the sofa and eat and looking for a handout. Get a life Sophiesmom.

[jte70]

I guess this is stuff we need to look for also.

First Reduction: cancels 30% of the debt upon signing the bilateral agreements implementing

the Paris Club agreement;

Second Reduction: cancels an additional 30% after an IMF program is signed; and

Third Reduction: cancels the final 20% of debt on completion of the last IMF Board review of

three years of implementation of the IMF program.

When fully implemented, the Paris Club’s treatment of Iraq’s debt will reduce the total debt owed

to Paris Club countries from $38.9 billion to $7.8 billion. This remainder (20% of the original

total), will be rescheduled over a period of 23 years with an initial six-year grace period of

repayments.

From this CRS report

[BobbyBuns]

BTW, I didn't realize that actually caring about your help that may actually lead to a more attractive physical appearance to the general population was considered narcissum. Is it narcissistic that I've helped rip 50+ lbs off people who hated their lives and now are happy for every day they are alive. Maybe you could use some of my advice but my guess is you will be one of those people who will talk about this is the year you will make a change and instead sit at home and watch The Biggest Loser and say that you could do that if you wanted to...

I've actually seen those items before but thank you JTE70 for helping another investor try to find a simple answer. Hope you have a great day

[fnbplanet]

Meow!

[jte70]

BB I've been wondering the same thing about the Paris Club and RV. I don't see a connection but as I said I'm no financial wiz.

[Soldier]

This is something the gurus have to throw blame on now that everything they have said in the past have felled. When this is over with they will find somethingelse.

[jte70]

Hmm. It does make me wonder if Iraq has simply been co-opted and they're just over a barrel now to their creditors.

(get it, over a barrel? ho ho!)

[oculaw1957]

DISCLAIMER: THIS IS FROM A 2003 OR 4 DOCUMENT

LINK TO US Dept. of State DOCUMENT

Under traditional Paris Club guidelines, Iraq’s petroleum and gas reserves would

render it ineligible for debt relief. According to the new Evian Approach, a country

seeking debt relief will first undergo an IMF debt analysis. This analysis is to determine

whether the country suffers from a liquidity problem, a sustainability problem, or both.

The Iraqi economy is dependent on it petroleum revenues. Although the U.S. government

projects exports of $16.6 billion in 2004, and $21.2 billion in 2005, the very large amount

of Iraq’s debt, $120 billion, raises concerns.14 Debt servicing draws money away from

reconstruction efforts, and is a disincentive for many to invest in Iraq. Iraq’s annual debt

service without any debt relief would be $7.2 billion a year, or 37% of its estimated 2004

gross domestic product, according to credit rating agency Fitch/IBCA.15

... but it looks to me like debt relief has more to do with drawing investors than RV. Not that I'm a financial analyst but maybe we can find something from this point.

Here is a more current document from the Dept of State Web site.

And the CRS report from 2009

Great info. This is what i was looking for. thanks

[Halo9678]

Wow... really.... I mean cmon guys... It's a lot of reading but the base line is that the Paris Club will forgive Iraq's debt IF they RV by Dec 31, 2010. Lots of info out there just gotta do some homework. As far as the recieved tone of the request... It was taken that those who may be doing the research for you are doing so due to the fact that you were taking care of yourself and letting someone else do it for you. I could see where Sophiesmom could draw that from. Which would undoubtedly have led to her response, calloused and confrontational it may have been, shows that she is all for group work but not 'you do, I play'. So kids, what do we take from this... Tone means a lot in conveying a message. While we have done our best to maintain a level of decorrum and professionalism, we slip up and our emotions or passions get the better of us. It's okay, it's actually to be expected considering that there's a large number of us dealing with an investment that has the potential to change our lives in an instant. Think Noah's Ark meets the Atom Bomb. Yeah it's gonna rain but the fallout is going to be something beyond our wildest imaginations. (Didn't want to even go near the 'Soddom and Gomorrah' analogy... that would have just opened a whole new can of worms...) That's my two cents... Going back to my hole in the wall now... thanks....

[keepmwlknfny]

I keep reading posts that say that Iraq must RV by EOY or they will have to repay all the forgiven debt by the Paris Club. Can anyone produce an article that says this is the case? I'm gonna go workout now so hopefully when I get back someone will have some documentation for me since I have yet to be able to find it clearly stated that way. Hope you all are having a great morning, afternoon or evening wherever you are!!!

It was just another mis-interpretation of an article, twisted in someones own mind that made them read it that way because it "looked good"......there is no written documents that say unless they RV they have to pay back all that debt....this is just another prime example why some of these "gurus" need to stop talking period because all they do is spread false hope and twist every little event into an upcoming RV.....basically all the ones that have chats everyday or CC just to hear themselves speak and feel good about themselves because honest people wanna know whats going on in Iraq and want to know when we could see a RV.....stick to the facts and what you can see for yourself......question practically everything you hear until you can verify it yourself.....that way you wont suffer from any "roller coaster" effect We will see the RV in 2011.....whether it be first quarter or midway.....all those articles about the new budget stated that plans were in place to see the value of the dinar rise in 2011.....so lets hope those plans are as good as they say!!!

[DiNaR DoCtOr]

There is no explicit connection between the two. The debt forgiveness is good for Iraq, but there is nothing that says that they will forgive debt if they RV. Gurus have the same info as the rest, but they interpret it different.

[Yabadabado]

Additional information is in the budget itself regarding the Paris Club...

http://www.al-iraqnews.net/new/&langpair=ar|en'>http://translate.google.com/translate?client=tmpg&hl=ar&u=http://www.al-iraqnews.net/new/&langpair=ar|en

Secondly: the share of the Kurdistan region by (17 percent) of the total expenditures shown in (Table / d - expenditure of the ruling) attached to this law that are not taken to dispose of these share only after consultation and coordination between the concerned ministry in the federal government and the concerned ministry in the province of Kurdistan. III : The proportion (17 percent) of the total operating expenses and expenses of the investment projects of the general budget of the Federal Republic of Iraq ratified the Kurdistan region after excluding expenses of the sovereign (the House of Representatives, the Presidency, the Council of Ministers, Ministry of Foreign Affairs, Ministry of Defence, wage negotiations and legal claims for debts , costs for auditing and follow-up and the pursuit of money overseas, costs for auditing firm (Ernst & Young) and the Committee of Financial Experts, contribute to the cost of producing crude oil source, including contracts for foreign companies executing the Kurdistan region, the benefits of foreign loans, interest on bonds, money orders the public treasury, the benefits of bonds turn off the external debt of the private sector, the amounts of contributions of Arab and international levels, amounts of compensation the Kuwait war, the operational expenses of travel and Nationality Directorate and the leadership of the border forces, debt settlement abroad, the benefits of the restructuring of foreign debt under the Paris Club countries and countries outside the Paris Club, the wages of the transfer of oil crude exported via Turkey, premiums bilateral agreements with Paris Club countries and countries outside the Paris Club and the investment projects of foreign oil companies).

http://www.al-iraqnews.net/new/

[MovieMaker]

I agree with both sides, I can relate to sophiesmom I'm a mom too!

AND I can relate to BOBBYS Buns of steel" because . . . well, I like buns of steel

Can't we all just get AAAAAAAAAAAn RV!

[Jan]

What is wrong with all you hateful people here? I asked a simple question because it is a topic people bring up every day as if the two are tied hand in hand. Knowledge is gained by asking questions, not by simply entering it into Google, where most information is incorrect. As far as promoting my business, I simply placed a logo ON MY PROFILE because I was proud of it. Do you really think that I believe that 1500 people on a forum completely unrelated to my business will have any affect on my sales here in AZ. Sorry if it offended you but maybe that's because instead on contributing this country by helping add to the GDP you sit on a forum and wait for the day you can continue to do what you probably do now, sit on the sofa and eat and looking for a handout. Get a life Sophiesmom.

I had to get rid of the negitive someone put on you. I saw nothing wrong with what you said or asked about. Your right, they have always said it was tied together. I'm sorry there are so many mean and negitive people on here now. Believe me at one time not that long ago this was the nicest, friendliest site around. It has nothing to do with the owner of the site either. He's been nothing but kind and caring. Oh yeah, I see nothing wrong with you being proud of your pic or what you do. I admire you for it actually. More should follow your lead. Take care and lets just hope this is all over soon. Emotions are running very high right now. And here's wishing you a Very Happy New Year!! Jan

[behaviorkat]

I agree with both sides, I can relate to sophiesmom I'm a mom too!

AND I can relate to BOBBYS Buns of steel" because . . . well, I like buns of steel

Can't we all just get AAAAAAAAAAAn RV!

I need an RV and buns of steel

[cgbrown]

The RV is coming, you can't doing anything about that. But as to the 'buns of steel' you'll have to go work out to accomplish that.

[ThePhantomRider]

I'm sure this has been posted before, I just have not been able to find it, but it's a breakdown and partial explanation of the Paris Club debt, how reductions are calculated and based against the regulations outlined by the Paris Club debt. Probably not ground breaking but worth a read.

It's direct from the CBI site.

Government Debt

Government Debt

Total government debt is estimated to be $60.05 billion in 2010. This represents 72% of GDP and is comprised of the following components:

External debt ($45.09 billion)

Domestic t-bills ($5.55 billion)

Bank debt ($9.41 billion)

External Debt

Following the ouster of the regime in spring 2003, Iraq’s external debt was estimated to be between $130-$140 billion. Reducing this debt to a sustainable level has been a priority since 2003 and debt relief negotiations have taken place in a variety of forums. This has led to the cancelation of a significant amount of Iraq’s external debt.

Iraq’s external debt is comprised of four components:

Paris Club bilateral debt ($42.5 billion)

Non-Paris Club bilateral debt ($67.4 billion)

Commercial debt ($20 billion)

Multilateral debt ($0.5 billion)

Debt relief negotiations first led to an 80% reduction of the Paris Club debt. The Paris Club agreement also set the terms for non-Paris Club and commercial debt cancelation levels. A provision of the Paris Club agreement is that Iraq cannot accept a debt cancellation agreement with other creditors on more favorable terms for Iraq than those reached with the Paris Club.

Thus, Iraq is expected to receive no more than an 80% cancelation from all of its creditors. Negotiations with non-Paris Club creditors are ongoing (mainly with Gulf countries except the UAE), and resolution of the commercial debt is largely complete.

External debt is estimated to be at $45.09 billion in 2010 (see government debt above).

TPR