Early Sunday Morning:
Fox: The IMF just gave Iraq a $866 Million Loan... the USA just noted friday that they are QUIETLY sending IRAQ what they need out of a $1.6 Billion FUND for IRAQ to take care of ISIS once and for all
Marlog: have you guys seen the new architectual plans for CBI and parliament ...architect chosen best in the world....1billion estimated price tag...Zaha HADID chosen she's from London… they are not going to be building it at a .1166 rate....the buildings designed are spectacular
RED: are you least believing it right now? We have heard it will happen when you least expect it everybody quit believing and let's see what happens
Bkneagle: It appears that things are still moving along on the very long ride. I am going to keep the faith that things are going our way, rather than keep on asking "Are we there yet, are we there yet" like my kids and grand kids. We'll be there when we get ther and not before.
Late Saturday Night:
DELTA: THE REASON THEY ARE TAKING THE LOAN IS FOR A CREDIT RATING, ALSO GOI NEED ABOUT $7 BILLION A MONTH . $800 M NO HELP FOR GOV, BUT FOR CBI ..YES.
EXAMPLE: FOR CBI $800 MILLION WILL BACK 8,000,000,000 DINARS IN CIRCULATION IN CASE OF 1-1 RATE !!! DELTA
Tomsrunner: Delta....The CBI already has 60+ billion in reserve with the USD and gold. Why would a measly 800 million improve anything, including the credit rating? Thanks for your time Delta
Family Business: Delta .... are we waiting next month for this loan to be approved? As I have read..And do you know when this loan is expected to be transferred to the goi/cbi?
Scarlet2575: » Good evening Delta. I know you are probably tired of this question. But do you still believe that we might see something happen before June 17th ? Thank you
Walkingstick » June 7th, 2015, 8:19 am
A member of the parliamentary Finance: IMF loan would be placed under financial supervision under the supervision of the ministry
6.7.2015 14:39 •
explained the parliamentary finance committee member Ahmed Sarhan, the loan, which will get Iraq from the International Monetary Fund, would be placed under financial supervision under the auspices of the Ministry of Finance.
Said Ahmed, told all of Iraq [where], that "the loan that the IMF approved in principle, to give him to Iraq will help in bridging the shortfall in the budget, and will be placed under the financial control supervised by the Ministry of Finance in terms of aspects of exchange management."
He added that " borrow this amount, means that Iraq needs funds, so it is not wasted, but will be under the financial control and supervision of the supervisory, and will be spent facets needed by the state. " explained Ahmed, said that "Iraq needs additional funds, and another supplier, as the economy collapsed and the financial crisis ridden state, as a result of the deterioration of oil prices in the global markets and the absence of any other supplier, "pointing out that" the budget law for the current year to chart a plan to address the deficit and the economy, including the borrowing that the government used it to bridge the shortfall in the revenue of the funds. "
He noted that " borrowing is normal, can all States to resort to him the situation of vulnerability to economic crises, especially that Iraq is in a state of war with the fiercest terrorist organization, which cost him large sums of money. " He added that "the loan from the IMF, to help him for the purpose of investment projects and building long-term economic plans, to help the country to promote the economic level until the improvement in oil prices. " The International Monetary Fund announced yesterday agreed "in principle", to help Iraq plan worth $ 833 million, to meet the economic impact of confronting the terrorist Daash gangs. International Fund and announced that he was "ready to support Iraq in its efforts in order to cope with the economic impact left by the conflict with Daash and the decline in world oil prices, "adding that" this assistance plan must be approved by the member states in the next July, ".anthy 2
[So at what point is the breaking point between liquidity and public unrest and RV?]
BGG No idea... but something is coming.
wmawhite What is the difference between a RV of the IQD at $1.00 and ISIL running around with boat loads of USD from the sale of black market oil? None.
The CBI will not use ISIL as a reason to reprice or not reprice the IQD. ...understand that the change in the value of the IQD will ONLY be relevant OUTSIDE of Iraq.
Gswoo13: In case you missed this... Zebra just posted, I heard somebody in the know was excited because the RV was happening NOW in China and we should see in on Forex by Monday.
Gswoo13: Millionday has a good post on Recaps now...worth the read. Here is an excerpt: kathi: DID YOU SEE THE WALL STREET REPORTER SPEAKING ABOUT OPEC? THIS IS WHAT HE SAID. 'm in London this morning... In three days of intense discussions with OPEC ministers and multinational energy CEOS, I saw something I had never seen before. There's now conclusive evidence that the markets are perfectly positioned for a highly unusual trade I've been waiting to move on for the last seven years.
[xyz] Abadi to take part in 7 major industrialized powers meeting in Germany ··Prime Minister, Haider al-Abadi, On next Sunday and Monday will pay an official visit to Germany to join a meeting of the Group of 7 major industrialized democracies for a session on economic crisis and fighting terrorism.