Post From BondLadys Corner
BondLady Chat & Tlm724 Comments 1-29-16
Officials expect revenues exceeding $ 100 billion from the sale of 600 thousand state-owned property
[BondLady] good morning, I'll come talk to y'all a second while I down this coffee then I need to blaze
[BondLady] I did see something today that could be a game changer for us all
[BondLady] its been in the news the last week up to date Iraq gov gonna sell off some properties and land to fill the deficit
[BondLady] whats the deficit like $ 20 billion ?
[RCS1947] I can't remember
[BondLady] well if they do this sale they will receive in excess of 100 billion dollars USD approximately according to their news and I posted like 5 articles or so that supports that just today alone
[BondLady] the CBI reserves are like 58 billion or so right as of now?
[BondLady] add a 100 billion USD to that after this sale
[BondLady] you see the IMF keep saying, which I also posted about this the last several days, that they are not negotiating with Iraq per loans at this time right ?
[BondLady] what if the sale of this real estate was so big a 100 BILLION big...that it made their reserves almost 160 billion hmmmm USD riddle me that batman lol
[RCS1947] our dinar might be worth something
[cat] uh huh
[BondLady] think of the repercussions of that huge reserve amounts and to their exchange rates as well as economy and businesses to jump start all the factories and industries
[BondLady] I dunno I could be totally off base but I look at it like this if they go through with this sale and it can only be sold locally to Iraqis, they have to live there
[BondLady] that is government land and real estate so if they sell it where would all those billions be deposited at ? CBI ? reserves? I am not sure about where
[BondLady] anywhos just a thought, if that was so
[RCS1947] good point
[cat] great stuff
[BondLady] I could see they could set a nice rate or possibly reinstate it but as usual you have to wait it out
[BondLady] timmys busy this morning and won't be in till later but I did talk to her about this stuff
[RCS1947] well that will put a smile on our face this morning!
[poopsie] waiting is our specialty
[cat] do you believe any changes in their rate by mid summer ?
[BondLady] I couldn't say cat
[BondLady] but they are in a huge financial crunch, an economic swift downfall they have procrastinated every single thing including all of the such important laws, if they do this sale then it's almost problem solved as far as I can see
[cat] thank you
[BondLady] pass the laws that will protect their wealth and act like a working country again stop relying on only oil, anyways I got to go but did wanna come visit a second with y'all over coffee
[RCS1947] or they could receive all this money and do nothing as in the past
[BondLady] please always read the news in the forum even if no one is here to bring it in chat...you miss so much if you don't
[poopsie] ty BondLady great having you come in here and ty this is certainly food for thought
[cat] BondLady you have made our day
[RCS1947] thank you very much
[poopsie] mine too
[BondLady] yqw poopsie and yes it is food for thought
[BondLady] yqw RCS1947 and cat and thank you both for always being our faithful chat guardians
[BondLady] yqw soon enuff
[cat] yqw always
[BondLady] not soon enuff lol
[BondLady] thanks everyone
tlm724: Thanks BondLady great chat, sorry I missed it ! As you mentioned we did talk early this morning about this and you are right, it is awesome to see some news to get excited about. It is also great to see Iraq think outside the box about selling off this real estate instead of beggin with their dirty hands out lol As you said I am sure it came at the urging of the IMF !
You did explain to me that they won't be selling off the palaces etc... they will turn them into museums which is perfect for the tourism industry.
More steady revenue. I am not ashamed to admit that I was shocked at these numbers, that is a boat load of dough and could very well have a huge impact on our investment. I am of the mindset that those funds will go to the CBI but I will email this to Shredd for his opinion on the matter.
I just want to point out a few highlights from the article base.
Baghdad, the Iraqi government is considering the disposition of more than 600 000 drug thereof, to turn it into cash within its plan to cope with the financial Haunted by the decline in oil prices. Finance Committee and talked about the possibility for the government amounted to $ 150 billion from the sale of real estate State.
That is saying it could possibly be up to $150 Billion dollars !
warns MP Masood Haider of the "loss of the amounts that will be realized from the sale of real estate if you go without a rational management of the funds also calls for the prime minister Haider al-Abadi. "presumably a member of the Finance Committee that" the government establish mechanisms for sale in a way that does not allow parties influential figures of the acquisition of such property pittance ".
Keep the politics and BS out of the matter !! Keep the wealthy politicians away from it !
The Minister of Oil, in an article he wrote recently, that "the state owns the assets of tens and hundreds of trillions of dinars from in-kind assets, and real estate assets, and land and plants are idle, and buildings experience and assets of the neglected, and the investments lost to ill departments." confirms Ghorabi (range ),
That "the sale Akart state process needs transparency and display property in a fair to advertise in different ways." The student member of the Finance Committee the government to "identify areas of property and the disclosure of those who exceed some of them, whether they are citizens or parties."
Finally I want to point out that Parliament is working on the law that will see this plan through to fruition, here is the press release about the last session. Again thank you BondLady you are our rock and you rock too !
House of Representatives finish reading the seven bills
January 21, 2016
He ended the House of Representatives at its second regular legislative term of the second legislative year and the second headed by Dr. Salim al-President of the Council and in the presence of 201 deputies today Thursday, 1.21.2016 read seven bills.
At the outset of the session of the Council ended the first reading of the first draft amendment to the Law of sale and lease of state property No. 21 Act of 2013 and provided financial and legal Committees to avoid gaps guaranteed by law and create legal and accounting treatment of what Affersh Cancel dissolved Revolutionary Command Council Resolution No. 163 of 1998 and to address what was produced by applications the operation of the law of shortcomings.
Shredd: Looks like this is being considered at this stage and the purpose is to supplement the cashflow shortage due to low oil prices...refers to this as a crisis. Iraq will need to look at other sources to fill the gap of low oil prices and since oil is almost all of Iraq's source of cash, this will possibly push them to look for ways to diversify their exports.