Q: [do you know if Iraq needs to have a recognized currency prior to the release of the credit ratings for a soverign country?]
BGG I doubt it - but more than likely need a currency and a credit rating to get their bonds sold at a premium and I doubt they want to sell their bonds cheap.
Q: [When will they start to sell their bonds?]
BGG the obvious answer is - likely right after their credit rating (hopefully a good one) is issued...again - IMHO they need a currency and a rating BEFORE they will be able to get investors to pony up to the bond table. I mean - they need something other than 1166 to show their advancing financial condition. It has to reflect the true state of Iraq. 1166 does not. [how long will something like a credit rating take?] I doubt they would have announced it if things weren't well on the way.
Millionday: I AM VERY EXCITED ABOUT THE HUGE PROGRESS WE HAVE SEEN IN PREPERATION AND ALSO THE PARLIAMENT SUCCESS AND WORK THEY HAVE GOTTEN DONE –
OBVIOUSLY WITH THE PROTECTION OF INTERBANK MARKET IS THE MOST EXCITING DUE TO THE DEFINITION OF INTERBANK MARKET
Millionday: IT REQUIRES ------- THE INTERNATIONAL EXCHANGE RATES AND THE CALCULATED VALUE OF THE DINAR
Millionday: NOTE -- THE HCL WAS SUPPOSED TO BE DONE BEFORE THIS MEETING ACCORDING TO ANOTHER REPORT WE HAD -- IT IS IN THE BASKET ON THE TABLE NOW –
AND ALSO YESTERDAY WAS THE MAY HOLIDAY THEY WERE NOT ALLOWED OFF DURING DUE TO THE LAWS NEEDING TO BE PASSED
Millionday: NOTE -- THE CREDIT RATING IMPACTS THE INTEREST RATE THAT IRAQ RECEIVES WHEN GETTING LOANS WHILE DOING BUSINESS----
THEY ARE SAYING HERE THEY NEED TO HURRY UP AND GET THE CREDIT RATINGS DUE TO THE ONGOING IMPACT THE LOW PRICES OF OIL HAS ON THEIR OPERATING BUDGET –
THIS IS BECAUSE THEY MAY NEED TO HAVE MORE LOANS BECAUSE OF THE LOWER AMOUNT OF FUNDS THAT OIL WILL BRING WITH ITS LOW PRICE PER BARREL COMPARED TO WHAT WAS EXPECTED
Millionday: NOTE -- THIS WILL ALSO IMPACT WHAT THE BONDS CALCULATE AS WITH IT NOT BEING DETERMINED YET -- AND THEY ARE IN A HURRY
wmawhite As we know, Iraq is pursuing a sovereign (country) credit rating. However...from Standard and Poors (S&P), one of the factors taken into account by Standard and Poors is the country’s currency;
Three factors also drive a sovereign's external score, namely our view of the status of a sovereign's currency in international transactions, the sovereign's external liquidity, and its external indebtedness, which shows residents' assets and liabilities relative to the rest of the world.
With this mind, why would Iraq move forward with obtaining a sovereign credit rating knowing that its currency will be a factors...UNLESS...it may not be a factor soon?
BigBearRV: Call was on Wednesday. . (next ) 5 days..starts on Thursday. ...Thursday - Friday - Saturday - Sunday - Monday. .. (that is next 5 days)
Adept1: ...In chat earlier, MrMiyagi says his contact says that Iraq RVed in-country last night: “please understand I am only repeating what I heard...we all know that this is rumortel until confirmation....dinar 4.98, dong 2.12, zim 19.2.” This was also reported on OpenMike.
Iko Ward: Well, IF they actually did this last week and IF the PTB have been crawling over each other in the back rooms and IF the IMF and the Chinese feel, they need to hit the ground running to make up for all the delays then YES, those rates might make sense. But that's a lot of IF's.
Kegler: Rates don't matter if they are not live
Iko Ward: Forex doesn't open till this evening. Dong is still flat. Tonight around 8PM EST WILL BE THE FIRST TEST.
Iko Ward: On the positive side, we always knew it would get crazy just before it pops so maybe this is part of the craziness?
Iko Ward: . My own personal belief is that it has happened in some hybrid form and we all just have to hang in there and wait for it to reach us.
Mntman: IKO Why is 8 pm ET the real test?
Iko Ward: Mtnman*.. That is usually the time the first poll of the Asian market gets published on Forex. The market opens a five, but it takes a few hours for everyone to get sorted out.
Footer: IKO are you feeling prescient about today/tomorrow?
Iko Ward: Footer, I actually am but have no clue as to what the rates will be. I feel fine though that we've all learned enough to do what is right for our individual circumstance.
Demcoit: (From Stage3Alpha Yesterday) wilbur grodan May 2, 2015 at 7:28pm IRAQI TELEVISION - Segment consisting of extemporaneous interviews with 'Baghdad Travel & Tourism' industry representatives. Men and women professionals were interviewed during this ten minute segment. Everyone interviewed appeared ecstatic to the point of distraction. They were barely able to engage in conversation while grinning ear to ear as never before seen in the two years we have been monitoring.
Demcoit: wilbur grodan > R.V. / GCR May 2, 2015 at 8:24pm IRAQI TELEVISION - FRIDAY extended segment of Shabibi delivering a speech/lecture/update. This was the first time in two years we have seen him deliver a message anywhere near this long. Might be an indication of CBI autonomy.
Hale Ali'i May 3, 2015 at 10:25am ...In chat earlier, MrMiyagi says his contact says that Iraq RVed in-country last night: “please understand I am only repeating what I heard...we all know that this is rumortel until confirmation....dinar 4.98, dong 2.12, zim 19.2.” This was also reported on OpenMike.
This is reposted from TNT chat...what do you guys think?
D.K.C. > Hale Ali'i Omega Man said close to the same thing yesterday.....not the rates -just that Iraq had RV'd and that we should hear about possibly by Monday I beleive......Sure hope its true!!
Hale Ali'i > D.K.C. We might actually be there!! I was told Friday we are wrapping it up and it was only days away!
D.K.C.: Ok Top Shelf at Recaps seems to be saying he got the funding for his bonds and is saying his good-byes….thats encouraging..unless I read it wrong.. He also says Dinar World is next… http://www.dinarrecaps.com/our-blog/topshelf-from-ktfa-the-release-of-the-bonds-are-key
Hale Ali'i > D.K.C. May 3, 2015 at 10:56am It's here!!
JJONESMX: » May 3rd, 2015, 6:12 am
CBI...News & Announcements
To / banks approved to exercise all banking - approved all remittance companies - companies to broker the sale and purchase of foreign currency all ( questionnaire about the window buying and selling currency )