Pdids: When I did have a moment to to read Frank's notes from the CC of Monday nite.
I do have a question for help from any of our Newshounds or family members.
Frank stated in those notes " that a few days ago the IMF said they are going to conclude everything with Iraq in the Month of May." Can someone be so kind as to post that particular article that Frank was referring to ?
It would be so much appreciated. Thank you again.
Walkingstick: Iraq Counts on IMF Agreement, U.S. Guarantee to Issue Eurobonds
April 28, 2016 — 6:54 AM EDT
The war-torn oil producer is having “big problems” selling foreign bonds because lenders are asking for an interest rate of 11.5 percent, Deputy Finance Minister Fadhel Nabi said in an interview in Erbil. The rate would fall to as low as 4 percent if Iraq reaches a stand-by agreement with the IMF, or if the U.S. agreed to back the bond sale.
Iraq aims to sell Eurobonds in the second half of this year, while the IMF has said it hopes to conclude an agreement with authorities in Baghdad in May.
Iraq’s oil revenue has dropped as crude prices plummeted, a problem compounded by the government’s expensive war against Islamic State militants who have taken over some major Iraqi cities.
Nabi said he expects the price of oil to rise to $50 per barrel by the end of 2016, and $60-$65 next year. Iraq may draft its 2017 budget based on an oil price of $32 per barrel “to be on the safe-side,” he said.
The conflict with Islamic State, which captured swaths of northern Iraq in the summer of 2014, has destroyed economic infrastructure, disrupted trade and discouraged investment. The country is facing the “double shock” of war as well as the crude-oil price drop, and has “urgent” balance-of-payment and budget needs, the IMF said in January.
Islandg1211: The statements about the IMF "concluding everything in May," is not directly saying that the CBI will RV in May.
There are three different things expected to happen in May between the IMF and the CBI.
The statement is referring to concluding the agreements that started ten days ago with Jack Lew co-signing Iraq's debt and getting them a better credit rating which would allow their international bonds to be issued at a lower than 11% interest rate down to about 4%.
Another reference regarding the IMF "concluding everything in May" statement is the LOI plan for the first half of 2016, which includes the IMF's review of each step of compliance.
The IMF, under the terms of the LOI, has their last scheduled meeting for the end of May. The CBI may have to have that final review of their compliance to the LOI before they can RV. The article is simply saying that their LOI plan for the first half of 2016 will hold the final meeting scheduled under that plan end of May.
Another article stated that the bank reforms were 98% complete as of a week ago. This could also imply that the banking restructure is expected to be complete in May.
I hope this clarifies what different articles have stated about the IMF's scheduled work with Iraq in the month of May.
There are three different topics that are being referred to: Bonds, Banking Restructure, IMF last scheduled review of the LOI steps in their six-month plan.
When Frank mentioned in the CC that the IMF stated that everything will be completed in May, and he implied and others are believing, that the IMF is stating that the CBI will RV in May, is not a literal interpretation of the three different IMF's statements regarding May, but his opinion, IMO.
These articles from the IMF are very important to study and understand what is actually being stated.
Elmerf123456 : I see way too much on the current horizon that all makes perfect sense to those in the know and who have studied.
Patience is biggest challenge for all of us whom has been educated in the process.
Our gained knowledge is what keeps us grounded and able to cope with our patience!
Yes we are witnessing the final processes right in front of our tired eyes. Relax for we all win!
firefly Remember...Jack Lew doesn't go anywhere unless it involves money! And where was he last week? Iraq!!
Q: [RV during Ramadan?]
Wmawhite: ...Ramadan has nothing to do with this...they still work. RAMADAN does not kill anything...this event is not an event driven process...and why do I say this?
Because they have told each of you...that this process is happening now...now!
THE WINGITCALL FOR MAY 4th, 2016 ~ 3:30pm EST~
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Primary Call in Line: 425-440-5100 ~
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[JESTER] HI EVERYONE... HAPPY TUESDAY...
[JESTER] NOW... THERE IS SOME INDICATIONS FROM THE PEEPS THAT HAVE BEEN GIVING ME TIME FRAMES THAT I HAVE BEEN TELLING YOU ALL ALONG THAT THERE ARE SOME THINGS HAPPENING TO BRING THIS THING TO A CLOSE...
[JESTER] BUT I BEEN TELLING YOU ALL ALONG WHAT THAT IS...
[MarySunshine] JESTER That is wonderful to hear....
[JESTER] THE PLAN AS IT STANDS NOW IS UNDERWAY WITH AN OUTSIDE TIME FRAME OF LATE THIS YEAR... WE WILL SEE IF THAT COMES CLOSER... BUT I AM NOT READY TO PREDICT IT WILL EVEN THOUGHT IS SEEMS THAT IS A POSSIBILITY...
[Colette1169] Jester - Good! Thank you!
[JESTER] SOMEWHERE IN THE PLAN AS IT STANDS NOW... THE MOVE WILL BE TAKEN TO IMPLEMENT THE THINGS THAT NEED TO BE COMPLETED TO MAKE IT GO THE WAY IT IS PLANNED...
[JESTER] I AM TOLD I WILL KNOW WHEN THAT IS BUT I DO NOT HAVE ANYTHING SOLID RIGHT NOW...
APPARENTLY THEY ARE TRYING TO GET THE PLAN IMPLEMENTED BUT THINGS CONTINUE TO ADJUST AS THEY GO ALONG... THERE ARE A LOT OF COUNTRIES INVOLVED... AND THEREFORE STILL A LOT OF MOVING PARTS..