Frank26: There will be a plethora of ……..” A HA MOMENTS” ………. on tomorrow’s MONDAY CC.
As we SHARED …..IOO ……….. The 1 to 1 is next as it transitions from GOI books to Employers’ books.
BigSpringTex: : The ATM’S will be operational and will dispense lower denoms BUT will be used in Iraq only not international yet.
Cornhusker: NO!!!!!!!!!! This Would Cause Hyper Inflation and Speculation Would Go Through The Roof…..
This Comes From Delta, Frank, and Teams……Unless They Are Back Tracking Now……Which I Highly Doubt.
Also, There is a Reason Trump Comes back on the 21st, along with many other things happening on the 21st…..
If this were not the case, They could have already turned the ATM’s on and let the LD’s out in Iraq only… I’m Not Buying It!!!!…..IMO
Frank26: Astute ……………… Deduction.
Quincy: I have a question for M CC, or IMOO:
1) Frank answered: ‘our friend’ is home (and WELCOME HOME, Sir), and is fishing on a lake. WTG, well deserved Sir. Blessed with you.
Then a Q about T…….in a building …… an old one ………..but our friend and T aren’t meeting. IMOO, is T tucked away, secure (while on vacation ), for a safety reason of what’s coming?
2) This is IMOO: after reading Deltas article on the ‘Tanz’ (IMF notified 10 days before Article VIII lifted, then RV 10 days after the fact), it was then released to public. Are ‘meetings’/decisions held days/weeks prior but only released (as in current time), but happened awhile ago? With that said, the lava flow seems to ‘have already passed in an area’ and has moved on before we even know it (as in, further ahead than we think)…which is a WOOOOHOOOO! It’s like they already have the date/rate in mind and study has this happening so soon & that’s a reason to celebrate this process in its ‘goal post’ stage with 1 second left to play.
3) 6.75% (or 7%) interest (bonds). SIGN ME UP!!!! … I may be a billion short though
4) World Court – 45 days, takes us to 9/4/17 (Labor Day)! Now that’s labor I’d like to be in… pushing money
IYO, You answered “Iraq trade international 1:1 (or IMOO, higher), to be official at then end of 45 days from 7/21/17”. IMOO, our Sept. Holiday seems more feasible to International (although next study after 8/21 is 9/1–9/10 study)… (let’s get through Aug. first). Agree
5) is KW? Their neighbor? The one $11b is owed?
6) Very impressed with ‘our friend’ involved in 16 total banks.
7) “Nothing in August” (teams have reason to suggest not in Aug.), but into maybe, Whenever they decide, we have no control….but study shows a lot happening in Aug. (21st???) IMOO, an RV ((MAYBE)) only weeks away, not MONTH(s) & dragging on and on … (however, that can happen ‘anytime’ & be blindsided). Simply put, in Aug., more Lava flow…Leading into Sept. That’s fine with me, they’ll RV when their ready, but Wow! The study is ‘knock my socks off!’
NO DATE~NO RATE, totally agree & understand, that’s why I’m here, not to be told “happening now”-“Tonight”… it’s all Study IMOO/IYOO, in all teams IO Thank You all.
8) Samson posted an ATM article today, but the wording was such that citizens can withdraw into the hundreds of thousands Dinar on ATM’s, but I thought they were (should) to be filled with LD’s, and ATM can’t read units if 1,000. *(or was that article worded for us to see and be caught off guard of what’s really coming)?
I was was excited to read Premium Teams will have more info today and
Loved the way you stated “US banks will be busy with us, they don’t need LL’s”
Yes, the WORLD needs RV, it’s all good for all involved. So happy to be part of this process and watch it manifest.
My sincere to this entire Team, Guests (Wowwwwwww, what a guest list), but mostly this couldn’t happen without all involved, as a team, making this happen … for us.
Frank26: Ah?……….. AH?? ……….. AHHH??? ……………… From 1 to 8 my answer is ………… NC ……….. lol
JK………LOL………..Good qts ………. i will answer them on M CC. Pure Aloha \m/
Don961: Parliamentary Economic: Issuing an external sovereign bond is an important step but with certain limits
o Baghdad / Zahraa al-Jassim
At the time, the financial adviser to Prime Minister Haider Abadi, it is the first time that the Republic of Iraq itself to promote and deal with the Iraqi international debt in the global debt market called DCM, which gives a strong signal to investors to deal with Iraq with high confidence, confirmed that it will also enable us to finance The budget is flexible or flexible international sources, in turn described the parliamentary economy, the step of Iraq’s issuance of external sovereign authority to the “task”, as it will contribute to the payment of financial benefits of the government to contractors and companies, and the role of the private sector through mutual trust, The bond should not be issued in absolute terms because it also increases the budget deficit.
“The first time the Iraqi Republic intervenes to promote and deal with the international debt of the Iraqi people in the international debt capital market called the DCM, which gives a strong signal to investors to deal with Iraq with high confidence, as well as the possibility of financing The global budget is flexible and flexible through international financial markets, not from specific countries or multilateral financial institutions. The most important is to build bridges of trust with the global market, especially with international investors, and make them touch the potential of the Iraqi economy, The sources of the strength of our national economy promising the victor in the front of the war on terror, especially as Iraq today is reaping the results of victory in the real financial and military.
In a statement received by Al-Mada, Saleh said that on Wednesday, August 2, 2017, Iraq issued an international sovereign bond bearing the name “Euphrates”, indicating that the duration of the bond is five years and the interest rate is 75.6% paid every six months . The number of international investment companies that have offered to buy and compete against it has reached about 350 international investment companies with investment facts exceeding $ 12 trillion. They have applied for ( Buy) bond called (Euphrates) and approached $ 6 trillions oversubscribed including on th Thal Abu Dhabi Investment Fund and the Arab Monetary Fund and the Education Fund in California, which is one of the richest funds in the US West Coast and the world.
Saleh added that the sale took place on Wednesday 2 August 2017 in London by the underwriters. The bond was registered for sale and purchase in the Irish stock market, using the criteria of the European Union which is one of the most accessible and efficient financial markets. This is why the Republic of Iraq issued two successive international sovereign bonds in 2017, which are linked to trading in the international capital market to date: The first is the bond (the Tigris) with 149.2% interest in issuing value. Million dollars guaranteed by the US government.
He continued: Today the second sovereign bond (Euphrates, guaranteed by the Government of the Republic of Iraq and its credit rating B – and carries interest at about 6.75%, which is lower than the Iraqi international bond traded in the secondary secondary markets since 2006) to settle the Paris Club debt, 28 and its interest or yield is currently 6.7% The average annual interest rate on the Tigris and Euphrates spreads (blinded according to the (wacc) hypothesis is 4.4% per annum.
“The issuance of an external sovereign bond is an important step, as a message of reassurance to investors, contractors, companies and traders who are asking the state for sums that have not yet been paid to them. On the other hand, it contributes to the sustainability Work in suspended projects, especially since there are projects ranging between 80% to 90%, so the amounts derived from the sale of sovereign debt will guarantee the rights of people who ask the state amounts of money has not yet paid, and in order to have mutual trust between investors, contractors and government On the other hand in Sp For the completion of the remaining projects.
Al-Dulaimi stressed that while we have included in the supplementary budget approved by the Parliament recently some of the amounts to pay the benefits of the contractors and financial peasants of the state, the sale of these bonds will also contribute to the completion of part of the deficit in the budget, steadily: We are at a time welcome this step , We also stress the need not to issue these bonds absolutely because it will also increase the budget deficit and will also establish financial benefits that the state may be unable to meet, so the sale of bonds must be subject to controls and must be certain limits, especially that the bonds originally Found to sustain the Ml and to provide an atmosphere of confidence.
Al-Dulaimi pointed out that the Iraqi economy today should go to investment and activate the role of the private sector, especially as the whole country is going to activate the private sector. This will not be without mutual trust between the investor and the contractor and the owner of the company and the state. And in particular, it is valuable and important and has assets in the Iraqi state, today Iraq when it entered the international classification, even though the degree (B), which we do not consider the entitlement to Iraq, because Iraq was previously classified as (ie), because Iraq had financial returns Strong and its strong budgets are also sketchy E in the reserves of hard currency and gold was great, but because of the financial crisis experienced by Iraq.
The Central Bank of Iraq revealed, on September 22, 2013, the arrival of reserves of foreign currency and gold to about $ 80 billion, while attributed to the increase in world oil prices, expected to increase that reserve in the coming months.
The Central Bank of Iraq, announced on (3 April 2014), the arrival of gold reserves to 90 tons to support the value of the Iraqi dinar, indicating that this contributes to the strengthening of the national economy. The central bank said it had “bought 60 tons of pure gold from around the world in order to support the value of the national currency, the dinar,” adding that “the amount of reserve gold currently owned has reached 90 tons.”
On 23 March 2013, the International Monetary Fund (IMF) announced that the DFI’s fiscal balances rose in 2012 to $ 18 billion and the central bank’s foreign currency reserve to $ 70 billion, attributing this rise to ” Unexpected oil “.
According to financial experts, Iraq’s reserve stock of cash has covered the cash flow over the past years, calling on the government to adopt alternative ways to bridge the deficit, including resorting to the implementation of secondary market policies agreed with the government.
Harley1: The last days of paper currency inside…..e-dinars only. WOOHOO!
Walkingstick: Localization of salaries of employees .. The last days of dinar paper in Iraq
The Iraqi government has already begun to implement the project to settle salaries by handing over the salaries of its employees through electronic payment cards issued by banks operating in the country through deductions up to two thousand dinars.
The financial adviser to the Prime Minister, the appearance of Mohammed Saleh, for “Economy News”, “The project of localization of salaries is in accordance with the plans set for him by the government because it includes several goals, including raising the efficiency of the payment system and revitalize the banking sector through the granting of loans and diversification of other services” Adding that “keeping cash inside the houses and not trading in the market leads to a large loss of up to 8% of GDP estimated at 12 billion dollars.”
He stressed that “the salaries of state employees, retirees and social welfare constitute 50% of the state budget, representing 25% of gross domestic product, an important gateway to make their salaries electronic,” pointing out that “financial inclusion is the largest way to control government expenditures because it will lead to a shift from payment To the electronic payment in addition to know who are trading cash and efficiency, “explaining that”the Council of Ministers has taken a decision to be 20% of state employees receive their salaries in October next through electronic payment methods. ”
He pointed out that “the plan to settle salaries ends in 2020, especially that 5 million Iraqis are currently using the card to get their salaries,” noting that “the World Bank is monitoring with the government the issue of the resettlement of salaries because it increases economic activity up to 2% of gross domestic product “He said.
The process of settling the salaries of 19 banks, government, private and foreign, and the number of employees about four million people are paid annually more than 35 trillion dinars.
For his part, said the Executive Director of the Association of Private Banks, Ali Tariq, “Economy News”, “Work is still ongoing in the project to settle the salaries of employees, which aims to develop the banking sector,” adding that “work is currently underway with the ministries of health and electricity and will begin to open accounts For staff this week. ”
He pointed out that “the shopping process will be through credit cards without any deduction in addition to that can be used ATMs deployed in Iraq through the system of the national division.”
The director of the payments department in the Central Bank, Subhi Abdul Karim said in an interview with “Economy News”, “The project to settle the salaries called for by the Council of Ministers and recommended its application taken into account and of great importance by the Central Bank of Iraq,” indicating that ” Of the project to settle the salaries of its staff has been successful experiment. ”
“The Central Bank of Iraq took large guarantees from banks to work in the project to settle salaries and will be held accountable any bank that falters the distribution of salaries of employees,” noting that “there is no fear of salaries of employees in the project to settle salaries.”
“The choice of ministries for banks depends on the criteria set by the Central Bank of Iraq in this project and each ministry free to choose banks identified by the Central Bank.”
While the Ministry of Electricity in a press statement received “Economy News” a copy of it, “The Iraqi Trade Bank will issue Master Card cards to the employees of the ministry free of charge once in case of opening an account within the bank, and the second time will be the cost of issuing master card (40,000 thousand dinars) Case of loss “.
She added that “the Iraqi Trade Bank will set up ATMs at the headquarters of the Ministry of Electricity to pay the salaries of employees on time when the information is sent to the bank by the ministry and the cost of withdrawing the salary of the employee is (2000 Iraqi dinars) for the total salary and salaries are divided into approximately 750 thousand dinars for one draw And the employee has the right to withdraw from his salary as he wants. ”
“The employee has the right to withdraw his salary from any bank outside the ministry and the cost will be (2500%) of the salary if the bank is outside the framework of the Iraqi Trade Bank,” she said, noting that “the offers included advances for employees ranging from 10 to 100 million dinars and different interest rates In addition to loans for the purchase of apartments at Basmaya interest rate (4%), provided that the amount does not exceed 75 million and 15 years, as well as car loans not exceeding (60 million) and interest rate of (8%) for a period of (4 years), certificates of deposit (500,000) Thousand dinars) qualify for the withdrawal of prizes up to (100 million).