Morning News Comments 03/18/2015
tlm724 Proposal to launch a Government bond debt in dollars
[tlm724] Dr. Mohammed Saleh, the Ministry of Finance to issue Government bond debt is denominated in dollars, not dinars
[tlm724] ah good old Saleh
[tlm724] when governments issue bonds they behave Spillane either put up their own currency bonds, which are geared toward local investors
[tlm724] in this case called the religion we have a government. or the government to issue-oriented investors in overseas currency other than the local currency bonds, which are often international, such as the dollar or currency euro.
[tlm724] that the citizen trust much the government and when issuing government support and promotion at home and abroad, it is expected to deliver a high turnout of the public who are looking for an easy and low-risk investments
[tlm724] He said the possibility of issuing such bonds periods repay chains of time ranging from one year, 5 years and 10 years, stressing the possibility that sold in the secondary domestic and global markets at a discount,
[tlm724] now the important part here these are long term bonds that Iraq wants to issue , these aren't T-bills
[tlm724] stressing the possibility that sold in the secondary domestic and global markets at a discount, trying to garner interest abroad, the big money, countries etc...
[tlm724] a global sale of bonds in dollars
He pointed out that the reason for evaluating the dollar comes to granting citizen's confidence to achieve greater financial returns and encourage the acquisition because it has thus contributed to the support of the country's economy and establish a good market for borrowing and reassure the public the possibility of selling in global markets or local (banks).
[tlm724] that the reason for evaluating the dollar comes to granting citizen's confidence to achieve greater financial returns
[tlm724] at this stage of the game the only way they are get the Iraqi's interested in buying bonds is to offer them in dollars which the people have confidence in !
[tlm724] It is my opinion that is this great news for us and I will explain
[tlm724] If I were Iraq I would do the same thing, sell these bonds in "dollars"
[bigdinaros] buy them back in dinars
[tlm724] there is no way I would offer LONG term bonds in dinar if I expected to raise the value of the dinar
[tlm724] bigdinaros no they would pay them back in dollars
[tlm724] why sell a bond in dinar if they would have to pay them back at a greater increase in value ?
[tlm724] I think this is awesome news for us !
[bigdinaros] as long as they revalue
[tlm724] bigd they have told their intentions
[RCS1947] I agree
[bigdinaros] Very Happy ohh yes
[bigdinaros] my thought about the bonds were, sell them in dollars, revalue, buy them back in dinars
[tlm724] they can't do that , whatever currency they issue it in is what they pay it in
[bigdinaros] ohh I see
[tlm724] they would be buying the bonds because of their confidence in the dollar and when those bonds mature they will expect dollars in return
[RCS1947] smart move for everybody
[tlm724] it's a great plan for Iraq
[tlm724] RCS1947 indeed !
[tlm724] a bond is a contract so to speak you can't pick and choose currencies once the bond is written. I look forward to Shredds comments on this one but for me I love it ! *hallelujah*
Member of the Board of Maysan: Returns the border graying port go to the federal government
[tlm724] federal government open another port border with the Islamic Republic of Iran in order to contribute to the Zaardh fiscal revenue and thus promote economic and service situation of the county
[tlm724] tax revenues !
A member of the parliamentary Economy: Investment Act has not been completed and is under study
[tlm724] "there are some changes taking place on the draft law for Almzcorvi out the law to attract investors, as well as the right to work preparing the ground to invest in Iraq.
[tlm724] we hope Committee on Economy and Investment parliamentary submission to the second reading as soon as possible, in order that there be sufficient time for legislation. "
[tlm724] they really need this law done at this stage ! If they want the investors then they better get busy real fast with this one !
Member of the parliamentary energy demand to send oil and gas law to the Committee to read
[tlm724] "the previous government has sent oil and gas Pencchth amended the law in 2011 was sent currently before the Commission on oil and energy to the prime minister and we are waiting for the answer from the government for the purpose of reading within the Committee and submitted to the House of Representatives for the first reading.
Central Bank announces new tax system limits the "money laundering" and reduce "corruption"
[tlm724] Central Bank announces new tax system limits the "money laundering" and reduce "corruption"
[tlm724] that the new system "is not without problems
[tlm724] *wolfwhistle* how about that !
[tlm724] oh theres my boy Yasiri, been paying attention to him for years ! He sits on the board of the CBI
[tlm724] "The bank will depend a new mechanism to control money laundering and selling the dollar against the imports," noting that "the mechanism is very simple and achieved two goals: first,
a national information system, and the other is to ensure access to resources for the treasury, because the bank would receive advance tax and the private Alcomerk imported goods, for every dollar sells for banks to import.
[tlm724] "the mechanism is very simple and
achieved two goals
[tlm724] first, a national information system, and the other is to ensure access to resources for the treasury
[tlm724] accountablity for ALL the money !
[therealbubbie] for every dollar sells for banks to import.
[tlm724] "the system calculates the value of the tax and Alcomerk be pushed them all the quality of goods entering Iraq, to meet the bank's cost and sends it to the Departments of customs and taxes," expected to "contribute to the system doubling of resources Iraqi treasury.
[tlm724] expected to "contribute to the system doubling of resources Iraqi treasury
[tlm724] TAXES !!!!!
[therealbubbie] man i hate when they say dollars !
[tlm724] the CBI is paying for imports with the dollar
[therealbubbie] yes I know !
[tlm724] "The new experience will not be without problems although it is a step for the development of economic and trade situation in Iraq," noting that "the new system will see some errors in the beginning as a result of not linking some border crossings mail order.
[tlm724] gotta work out the growing pains and get all the borders linked
[tlm724] For his part, saw the executive director of the board of the tax, the banks get the dollar is going to be interested in procuring tax under the new system, it needs to be returned infrastructure to ensure the application effectively
[therealbubbie] tlm724 wouldn't we like to see the CBI is paying for imports with the dinar!
[tlm724] yes I would bubbies
[tlm724] I think there is more tax here then we realize, have a look
[tlm724] "The new system marks the beginning of the establishment of a centralized database," asserting that "banks that get the dollar is going to be interested in procuring the tax."
[tlm724] The system includes a lot of technical details and procedures aimed, among other objectives, to maximize revenue through tax-taking."
[tlm724] that Iraq is losing annually an amount up to $ 20 billion in tax revenues, due to corruption fulfillment of customs duties in the border ports and tax evasion.
[tlm724] very interesting ! The country will double it's revenue yet tax their people at 1166 ???