BACKDOC: SCREAMS OF A RATE CHANGE! (see article below) REMEMBER IRAQ LAUNCHED ON THE 8TH AS WE SAW SO START WATCHING CLOSELY ON THE 22ND!
WITH THE STOCK MARKET PUTTING A HOLD ON INCOMING INTERNATIONAL TRADES WE CONTINUE TO SEE SUPPORTIVE EVIDENCE MOUNT WITH THE IMF GETTING VERY CHATTY! REMEMBER THEY NEVER LIE!
Mountainman: Dang Straight…..They Sure Are Working at Lowering the Inflation…..In a Hurry….I Might Add….LOL……Single Me Out for Some
Real/RIAL….IMO……Right???……Hellooo IRAN
Thunderhawk: Iran financial policies focus on 3 key economic variables
Since removal of anti-Iran sanctions in January, the Iranian government’s financial policies have been aimed at cotrolling three major variables of macroeconomy, deputy governor of the Central Bank of Iran (CBI) announced on Thursday.
Speaking to IRNA, Akbar Komeijani referred to those variables as the inflation rate, relative stability in foreign exchange market and reforming the banking profit rates.
Meanwhile, control of inflation is CBI’s top priority, Komeijani stressed.
While inflation rate in Iran was 40.4 two years ago, it decreased to 12.6 percent in Bahman 1394 (January 21 – February 19, 2016), said the official adding the figure well indicated the right financial policies that Central Bank of Iran has been pursuing to reach a single-digit rate of inflation.
http://www3.irna.ir/en/services/162/
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Thunderhawk: Did you catch that? “The new Iranian year”March 20 MMMM
Mountainman: I CAUGHT IT……and I’m Passing it Back….WOW…A New Year…..Many Other New Realities…Hmmm…..Hmmm….Hmmm….As that Wise Old Sage Matthew McConnaughey Once said…..Well….Ahhh Right!!!!!!!….IMO
BACKDOC: WITH THIS DATE IT MAKES SENSE TO LOOK AT THE FIRST AVAILABLE TUES. WED. OR THURS. AND THAT IS? THE 22ND!
WE BEGIN TO WATCH FROM THAT POINT ON! DOC IMO
Navy to sail into Atlantic Ocean in new Iranian year: Commander
Navy Commander Rear Admiral Habibollah Sayyari said that presence in the Atlantic Ocean is among the force’s programs for the next Iranian year (to start on March 20).
He made the remarks on the sidelines of the ceremony to open an exhibition on achievements of the Navy in Khorramshahr city on Thursday.
Sayyari told IRNA that presence in free seas shows Iranian Navy’s capabilities in establishment of security.
He added that presence in free seas, especially in north of Indian Ocean that is a bottleneck from an economic aspect, is among achievements that was fulfilled upon guidelines of the Supreme Leader.
The admiral also explained achievements of the Navy by saying that development of the ship building industry, commissioning production line of destroyers which are technologically of high standards are among achievements of the Navy.
Following construction of Jamaran destroyer, other destroyers and submarines are under construction, he added.
The commander said that Iran’s flotilla had patroled free seas, Red Sea, Mediterranean Sea, South China Sea, South Indian Ocean and Pacific Ocean and that the Navy is planning for presence in the Atlantic Ocean..
http://www3.irna.ir/en/News/82006387/
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BACKDOC: THUNDER THERE IS TOO MUCH TO TALK ABOUT IN THE BIGGER PICTURE BUT I WILL TRY FOR NOW TO FOCUS ON JUST SOME OVERALL ISSUES IM LOOKING AT! I HOPE SOON TO TAKE ENOUGH TIME TO SHARE SOME IMPORTANT ISSUES.
LETS START WITH THE FACT THAT THE UNIVERSAL CURRENCY (BLACK GOLD), HAS FINALLY BEEN WORKING ITS WAY TO THE $40.00/BARREL PLUS PRICE BASED ON HOPES OF AN UPCOMING OPEC MTG A MONTH FROM TODAY! THE HOPE IS TO GAIN COOPERATION ON FREEZING OIL PRODUCTION!
IT SEEMS THAT A FIGHT FOR A FUTURE GLOBAL REALITY VALUE THAT ALL CURRENCIES WILL BE BASED OFF WILL LIKELY BE OFF THIS UNIVERSAL CURRENCY SINCE IT AFFECTS ALL ASPECTS OF AN ECONOMY!
WE HAVE SEEN COMPANIES CONTINUE TO BE UNDER DEFLATIONARY PRESSURES DUE TO THIS CURRENCY FALLING? WHY? AHHH THE PETROL DOLLAR STILL EXISTS AND WILL HAVE TO FIND A WAY TO DEPEG FROM OIL OTHERWISE THE DOLLAR WILL CONTINUE TO CREATE THIS DEFLATIONARY EFFECT!
IT SEEMS SO BAD THE FED COULDN’T CONTINUE ON ITS RATE HIKE PATH TO NORMALIZATION! MMMMM
I HAVE SOME BIGGER IDEAS TO SHARE ON THIS LATER!
AS COMPANIES FACE THIS DEFLATIONARY PRESSURE MANY ARE DOING LAYOFFS TO REMAIN PROFITABLE! MANY OF THESE COMPANIES ARE DOING STOCK BUY BACKS WITH THEIR PROFITS WHICH MAKE FOR A MUCH STRONGER BALANCE SHEET.
NO LET ME ASK YOU IF I MAY? IF YOU WERE A COMPANY AND YOU KNEW THAT YOU HAD TO BECOME SECURITIZED BY YEAR END WHAT WOULD YOU DO? RIGHT, REDUCE DEBT.
WHEN COMPANIES ARE EVENTUALLY RE-PRICED IN THE NEW ASSET BACKED U.S. CURRENCY THEIR STOCK PRICES SHOULD BE MUCH LOWER DUE TO THE HIGHER VALUE! COMPANIES THAT ARE WELL PREPARED HEADED INTO THIS DOWNTURN WILL GOBBLE UP OTHER RIVAL COMPANIES!
THESE BIGGER COMPANIES DOING THESE BUY BACKS KNOW SOMETHING THAT MOST OF THE TRADERS DON’T! HEE HEE DOC IMO
Mountainman: Well the Banking Biz is getting Hit Hard as “Adjustments” are being Made……Energy markets have been Raising Cane lately and High Derivatives are Back lashing the BIG BOYS…..well Pull Up those Big Boy pants and Hedge Yourselves for this (Storm) is Flashing like “LIGHTNING”……IMO
Thunderhawk: Into Recession: US Banks Expecting ‘Disastrous’ Earnings Results in Q1
Operational profits of major US banks are declining rapidly amidst low demand for financial services and international financial turbulence, meaning first quarter results might push the entire US economy into a recession.
US corporate earnings are projected to shrink further in Q1 after a lackluster performance in second half of 2015 as the Federal Reserve’s tightening policies and a stronger dollar have negatively affected overseas revenues of America’s enterprises. This time, major US financial institutions are in focus: as earnings season nears, US banks are expecting a massive decline in revenues from deals, including trading, investment and international lending.
Should Q1 turn out more frustration for corporate America, the period would be a third consecutive quarter of losses in profits, meaning the overall US economy is nearing an 80% chance of tumbling into a recession this year (two straight quarters of corporate losses historically precede a recession).
Goldman Sachs Group, one of America’s largest financial enterprises, and one of the top donors for Hillary Clinton’s presidential campaign, might suffer a 32% drop in its annualized earnings from investment banking in Q1, according to a report by Credit Suisse. Other sources say Goldman’s investment banking might drop as much as 25%, either way, the outlook seem hardly encouraging. Goldman’s trading income is expected to fall 17% in Q1, Credit Suisse said.
In Q1 2015, Goldman’s investment banking revenues hit $1.9 bln, whilst this outgoing quarter they would hardly reach $1.4 bln.
The projected slump in financial sector earnings stems from the volatility in international finance, with most investors saving their money, abstaining from investment. Trading in financial services is going through hard times: once investors put their money into a haven asset, they do not require further guidance anytime soon.
“We have to take our direction from what other firms have said and what we have been able to observe in the marketplace,” Guy Moszkowski of the London-based Autonomous Research LLP. said. “The market environment is what it is, and it’s not good.”
The wave of anxiety in high-yield bonds in December, global stocks meltdown in January, the lingering drag on commodities throughout most of the quarter and loose monetary policies have all contributed to the declining appeal of financial sector operations: market participants are losing trust in larger financial institutions and their ability to safeguard their money.
Besides, historically, US financials perform their best in the first quarter of the year, meaning should this quarter sport a massive decline, there is more trouble down the road.
“Clearly, the external environment has been a real challenge,” Jonathan Pruzan of Morgan Stanley said.
Tough competition between US financials is another reason for decline in operational income amidst the unfavourable market conditions. Citigroup said on March 8 their investment banking income would plunge 25% in Q1, while trading revenues would decline 15%. JPMorgan’s investment division is expecting a 25% decline in fee income as debt servicing and share insurance have both slowed. Jeffries Group reported a major collapse in trading revenues, with their income from stock and bond markets having shrunk by 82% in December to February period, the greatest decline since 2008.
Subsequently, the perceived unsatisfactory performance of the US banking sector reflected negatively on bank shares on Wall Street. Up until late 2015, bank stocks were one of key drivers of Wall Street’s gains, but as operational losses mount, and revenues being slaughtered, equities of financial enterprises turn into a drag to the market.
Between 2009 and late 2015, equities of US banks rose in value by a total $14 trln, however, each time the Federal Reserve protracts on interest rate hikes, thus preventing investors from hurriedly buying into the dollar and other US assets, bank stocks plunge.
In past 52 weeks, bank shares declined by 22% in Wall Street trading, whilst insurers’ stocks dropped 13%, capital markets’ shares plummeted 27%, and consumer-related segment crashed 28%. The erasure of capital linked to the US financial enterprises might trigger cuts in costs and other similar measures aimed at boosting corporate efficiency, however, the main factor of the current unease, global volatility, is unlikely to disappear anytime soon.
Consequently, the ongoing drag on US corporate earnings is likely to push the broader economy into a recession as soon as this year, unless an acceleration in real economy and domestic consumption prove solid enough, supporting at least domestic operations of US banks.
http://www.follownews.com/into…..in-q1-yppv
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Mountainman: Well w/ C.Lagarde Touring the East and Working her way Around…….India,Vietnam,etc…..it Appears that there is Direction being given for A “TRANSITION”…….IMO
Thunderhawk: Backdoc Alert
BlackRock investor sees value in emerging markets after Fed decision
A BlackRock Inc (BLK.N) portfolio manager said Thursday that he continues to see value in emerging-market bonds from Asia to Latin America a day after the Federal Reserve left rates unchanged and acknowledged global economic risks.
Amer Bisat, a portfolio manager within the New York-based company’s fixed-income group, said he likes the value in Mexican, Indonesian, and Argentinian markets. He also said he has started “engaging” in Brazil’s markets given the cheapness of some of the country’s bonds.
“The fact that the Fed is worried about emerging markets is a good thing,” Bisat said.
http://www.reuters.com/article…..SKCN0WJ25Z
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Thunderhawk: Hello Mongolia, I’ve always had my Hawk eye on you.
Mountainman: Well if I’m Reading the “TEA LEAVES” Correctly….LOL……Mongolia will Play a Major Role in this Trade route……China has been working w/ them…..Planning for Future Trade for some Time Now……and The Tourism Income will be Life changing for The Regions citizens!!!….IMO
Thunderhawk: Russia, China and Mongolia to Revive World’s Longest Tourist Route
“The Great Tea Road” has been called the longest overland trade route in the world. Starting from the Great Wall of China, it once wove its way to Europe via Mongolia and Russia.
Now the three countries Russia, China and Mongolia have joined hands in a tourism union, aiming to revive the route to make it a great bucket list must-do for global travelers.
Speaking at the economic forum of tourism infrastructure, Deputy Head of the Federal Tourism Agency, Alexei Konyushkov called the project a positive example of cross-border and inter-regional tourism.
“This is a project of the widest geographical coverage, the longest of the existing land routes, allowing to cross Eurasia and visit countries such as Russia, China and Mongolia,” he said.
It was earlier reported that the key section of The Great Tea Road will be honored as a tourist route seeking to tap the world’s two billion tea drinkers. The tea route in Russia received ‘bricks’ of compressed tea from camel caravans at Kyakhta — which came via Mongolia from the Great Wall of China gate at Kalgan and beyond.
The speaker said that the route started to be developed in 1992 with the support of more than 50 organizations of the three countries and it is set to cover 28 regions of Russia, although the number may vary.
“The growth of domestic tourism suggests that there is a huge potential for the development of tourism,” Konyushkov said.
http://www.ooyuz.com/geturl?aid=10861828
BACKDOC: WELL THUNDER, THE PARTY MAY BE COMING TO AN END QUICKLY IN JUNE! THE FED WILL LIKELY RAISE RATES AGAIN. THIS WILL GET MORE MONEY TO COME OUT OF STOCKS! THE LOWER THE MARKET GOES THE EASIER THE TRANSITION INTO THE ASSET BACKED STATUS!
Mountainman: These “Emerging” Markets are going to have Huge Growth in the Near Term……..So We Watch,Wait,and See as June Approaches….Many Changes will Show their True Colors between Now and Then…..IMO
Thunderhawk: Backdoc Alert
With Fed on hold, June volatility looms
Traders may be happy now that the Federal Reserve held back on rate hikes, but come June, markets could see volatility all over again, and investors need to prepare, strategists said Thursday.
“We’re recommending clients sell some of their exposure, add some protection and think about looking at dividend strategies if the Fed’s going to be slower than expected,” Steven Rees, global head of equity strategy at JPMorgan Global Wealth Management, told CNBCs “Squawk Box.”
On Wednesday, the Fed cut in half its expectations of interest rate hikes for 2016 from four. It also lowered its economic growth outlook to 2.2 percent for the year, down from 2.4 percent.
U.S. equity markets closed higher after the announcement, but premarket futures edged lower Thursday.
While Rees doesn’t see a recession on the horizon, he is still looking to options like short-term puts for protection against other risks like volatile oil prices, tough corporate earnings, U.S. interest rates, and negative interest rates in Europe and Japan as the June earnings season and Federal Reserve meeting approach.
U.S. corporate earnings growth, a major driver of stock performance, could be problematic, as employment and wages rise, adding costs for business owners, said Jim Cahn, executive vice president and chief investment officer at Wealth Enhancement Group.
“Those wage increases are going to put pressure on businesses and profits, and ultimately, put pressure on the Fed to increase interest rates faster,” Cahn said.
With manufacturers struggling worldwide, emerging markets look more attractive than the U.S., he said.
“Especially in emerging markets, the story doesn’t get much worse than it is right now — and generally that’s a good time to buy,” Cahn said.
http://www.cnbc.com/2016/03/17…..looms.html
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Mountainman: Well I’ll be……What do we have Here…..Do You think the Z Country made a Deal too…..and after All when a Loan is Given by the IMF……that Means Your Resources have been….Shall We say….VERIFIED…..for a Nice Return on said Loan W/Interest…Hmmm…..Of Course Agreement to Major Reforms is A “KEY” that Unlocks the Coffers for a New Beginning for this Country……and the WORLD…..IMO
Thunderhawk: Zimbabwe to get first IMF loan in almost 20 years
Zimbabwe expects to get funding from the International Monetary fund later this year.
The loan will be the first since 1999, the country’s central bank governor, John Mangudya said on Tuesday.
He further added that the IMF would decide on the exact amount of the loan and the fund had agreed to double the amount available for Zimbabwe, known as a financial quota, to $984 million.
Currently, the country’s foreign debt stands at US$8.3 billion, of which US$1.8 billion is arrears.
The southern Africa economy country is trying to emerge from years of international isolation, largely blamed on Mugabe’s policies, including the seizures of farms from white farmers.
Recently, the government agreed to major reforms including compensation for evicted white farmers and a big reduction in public sector wages as the government tries to woo back international lenders.
The IMF and World Bank forecast growth of 1.4 percent and 1.5 percent this year.
http://www.africanews.com/2016…..-20-years/
BACKDOC: WHAT IS VERY INTERESTING IS THAT ALL THE QE HAS ONLY CONTRIBUTED TO MORE CASH REDUCTION OUT OF THE PRIVATE SECTOR!
WITH ALL THESE BONDS BE BOUGHT WE HAVE SEEN MORE MONEY COMING OUT OF THE WORLDS ECONOMIES.
IN FACT, A FEW DAYS AGO WE SAW EYGPT HAVE TO DEVALUE ITS CURRENCY BECAUSE THERE WASN’T ENOUGH DOLLARS AVAILABLE.
WE ARE SEEING THE FED SUCK DOLLARS OUT OF THE WORLDS ECONOMIES! WHY? WHAT ARE THEY PREPARING FOR? HEE HEE
COULD A STRONGER NEW ASSET BACKED CURRENCY BE ON ITS WAY BY YEAR END? DOC IMO
Thunderhawk: WHY RUSSIA IS INCREASING ITS INVESTMENTS IN US DEBT
Russia has increased its holding of US Treasury securities, having reached two goals – securing fixed foreign exchange earnings and deepening US’ sovereign debt.
Russia has increased its holdings of US securities by $4.8 billion in 2016, according to the US Treasury Department.
At the annual rate, the sum increased by $14.7 billion.
United States treasury bonds remain one of the most reliable financial tools in the global economy, Vladislav Kochetkov, head of Finam investment holding, told Ridus agency.
“It is obvious that the Russian government has adopted this conservative investing policy and has invested in US treasuries,” he explained.
Despite the fact that last year Russia’s holdings of US Treasury securities decreased amid the tensions between Moscow and Washington, Russia never abandoned the policy of investing in the US debt.
Since December 2014, Russia gradually decreased its holdings. In April 2015, they reached $66.5 billion. Since May 2015, Russia’s holdings have again been increasing.
Buying US debt, Russia is securing its stable foreign exchange earnings and at the same time is deepening the debt of the world’s strongest economy. “Thus, Russia is not only saving its gold and foreign currency reserves but also increasing them,” Kochetkov said.
Russia is the 15th largest holder of US Treasury securities, with $96.9 billion. China leads the list with nearly $1.3 trillion. Japan ranks second, with $1.1 trillion.
http://www.newsunited.com/why-…../28665995/
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Mountainman: Well HAWK….If My Memory Serves me correctly…..I believe that CHINA made Agreements last Summer to Pay this Debt off…..Make No Mistake this Country Is Super Rich w/Poor Leadership…..W/the IMF,WB…etc…..They will be A POWERHOUSE IMO……for their Region….and Seeing Global Trade is a Major Component in the NEW REALITY….it Only serves to Make Sense for these Countries/Institutions Involvement……POOL those RESOURCES…..Yup…..IMO
Walkingstick: Zimbabwe: IMF Board to Determine Zimbabwe’s Destiny
THE International Monetary Fund (IMF)’s board is expected to meet in May to decide the fate of Zimbabwe’s arrears clearance strategy, expected to facilitate the country’s re-integration in the international community.
If approved, this would pave way for Zimbabwe, which has been unable to access offshore funding due to outstanding arrears to international financial institutions (IFIs) and other lenders, to be considered for new funding from the Bretton Woods institution.
Zimbabwe last year tabled proposals to clear US$1,8 billion in arrears to the World Bank (WB), IMF and the African Development Bank (AfDB) by June this year during IMF and WB annual meetings in Lima, Peru.
Finance Minister, Patrick Chinamasa, last week disclosed that the IMF board would hold its meeting on Zimbabwe on May 2. The board would discuss Harare’s strategy to clear its arrears at this meeting, he said.
The development comes at a time Zimbabwe has met targets for its Staff Monitored Programme (SMPs) which ended in December. Chinamasa said “this will give Zimbabwe a strong track record towards normalising relationships with its creditors and mobilising development partners’ support”.
Chinamasa said strong performance under the SMP would improve Zimbabwe’s repayment capacity and demonstrate that it could implement reforms that could justify a financial arrangement to tackle the country’s deep-rooted problems.
“Our meeting of SMPs targets paves way to negotiate with the three IFIs namely IMF, WB and AfDB,” said Chinamasa.
“That’s a strong statement and a very positive development in the eyes of our creditors. So as we go forward now, the IMF executive board is going to meet on May 2, 2016 to approve or reject our Lima arrears clearance strategy,” he said.
Chinamasa said now that the country had met its SMP targets, Harare would intensify its engagement with development partners that supported Zimbabwe in Lima.
“We need to be very clear: Unless we reach an accommodation with them, we don’t get lines of credit.”
“As we clear our arrears, we would want to see whether we are still on the same page with development partners who gave us overwhelming support in Lima.
“We continue to engage them bilaterally and also in some cases multilaterally. We do so in a more intensified manner just to see whether they are still warming to us as we go towards May 2, 2016. You cannot always take these things for granted.”
Should Zimbabwe succeed in clearing arrears to the three IFIs by June this year, this would then be followed by engagement with other creditors, such as the European Investment Bank, Paris Club and non-Paris Club members.
The plan, apparently, is to reduce the country’s debt, estimated at US$8 billion, improve the standard of living in the country and spur economic growth.
The debt clearance strategy is, therefore, expected to reinforce Zimbabwe’s commitment towards opening a fresh chapter with its lenders.
Commenting on Zimbabwe’s chances of getting fresh funding from the three IFIs, Chinamasa said: “Yes, we have met our target SMPs, which were essential in order to support the economy, promote macroeconomic stability, address weaknesses in the financial sector and lay the foundation to build our capacity to pay external outstanding debt.
“This means we now have a good track record, but we are not there yet. We are only there in terms of being able to discuss a new financial programme only. But even with the new financial programme, even if they are to give us new money, if they don’t see any capacity to pay in us, they will not give us new money.”
http://allafrica.com/stories/2…..70375.html
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Mountainman: Well Currently Credit Card Companies Utilize a Similar Concept….Meaning they try and “REDUCE” Ones Overall Debt Balance Owed…by Offering A Settlement Amount or A Restructuring Measure so as to NOT Lose out Completely and Yet Perhaps Incentivize
The Debtor from Default….and or Bankruptcy…..BTW…..We are In A Jubilee year still……IMO
Thunderhawk: New IMF Debt Rules Draw Praise, Criticism
Bankruptcy is the procedure in the United States (and many other nations) that allows a debtor who is no longer able to pay back a debt to come to some form of resolution with his or her creditors, typically allowing for a different repayment term or the discharge (or erasure) of some or all of the debt. In fact, every country has some similar process. When addressing international debts between nations, however, no such procedures exist.
To address this problem, the International Monetary Fund (IMF) has drawn up new rules. As IMF Chief Economist, Olivier Blanchard, explains it, a country in need of IMF assistance is either “illiquid” or “insolvent.” When “illiquid,” the nation simply cannot mobilize funds in order to satisfy its obligations. It simply needs funding in order to see it through this low point in liquidity, and will likely be able to repay its bailout in time.
“Insolvent” nations, on the other hand, need to have their debt restructured, as they will have a difficult time emerging from their own debt spiral otherwise. Such restructuring will likely need to be similar to the process of bankruptcy in the US, with portions of the debt either reduced or deferred.
Unfortunately, it is very difficult to look at a nation in financial crisis and determine whether it is “illiquid” or “insolvent.” Of course, the IMF is under immense political pressure at the same time to bail that nation out, regardless of which bucket its debts fill.
The IMF’s new rules suggest that if a nation’s debts fall into the bucket of “insolvency,” any bailout funds tend to go to repaying creditors who should have participated in the resolution and trimmed a portion of their own profits on those debts in order to reduce the likelihood of default. An excellent contemporary example of this problem is Greece.
When it first began receiving bailout funds, the initial money went to pay off creditors. By the time the IMF and the European Union banks began discussing debt restructuring for the clearly insolvent Greece, many of the creditors had already been paid and had no interest in restructuring any of their portions of the debt.
Blanchard suggests that the new IMF rules will help prevent just such a situation. According to the new rules, if there is doubt as to a nation’s solvency, its debts can be put on temporary hold (though, not erased or reduced). This may pressure creditors to offer debt reductions on their own.
Economists, however, are divided on the potential efficacy of these new measures. The biggest problem is the IMF’s inability to bind a nation’s creditors to any kind of restructuring plan in the way a bankruptcy court can in America. As a result, many of the rules suggest that nations tempt default if they wish to receive funding from the IMF.
Some feel this is an excellent use of extra-judicial pressure to reach bankruptcy-like effects for distressed nations. Others suggest that because there are no real teeth to these measures, they merely serve as a means of refusing aid to nations in desperate need of assistance, leaving them stuck in the middle between their creditors and the IMF.
Until these rules have been given practical use, it will be difficult to determine which view will prove most true. These provisions, however, may be but the first step on a path to addressing the bigger problem of international debt that could lead to a new body of treaty law regarding the bankruptcy of nations and their debts.
http://www.economywatch.com/ne…..m0317.html
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Thunderhawk: WTO members willing to engage with Iran: Chief
Members of the World Trade Organisation are willing to engage with Iran on its accession to the body, but a lot will depend on Tehran’s drive to make proposals during the early stages, the WTO’s director general said on Thursday.
[WTO members willing to engage with Iran: Chief]
Iran, the biggest economy outside the WTO, had signalled its intention to join as part of normalising its international trade relations once nuclear-related sanctions were lifted, Reuters reported.
“We are in the early stages but I think there is goodwill and engagement and I hope that the process will move as expeditiously as possible,” Roberto Azevedo was quoted saying at a media briefing in Cape Town.
http://www3.irna.ir/en/News/82006422/
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BACKDOC: I’VE BEEN FAIRLY QUIET FOR SOME TIME ON THIS ASIAN GEM! I HAVE THOUGHT FOR THE LAST 3 YEARS THAT THE VND WOULD EVENTUALLY END UP AS A DONOR CURRENCY TO THE SDR LIKE THE Iraqi dinar AND THE KUWAITI DINAR.
TIME WILL TELL BUT THE WAY THEY ARE BEING BLESSED FROM FOOD TO FACTORY THE TPP WILL KEEP THEM A ROCKIN.
QUARTER AFTER QUARTER WE HAVE BEEN SEEING 6.8% GROWTH QUARTER OVER QUARTER.
WHY DID THE IMF JUST A FEW DAYS AGO TELL THE ASIAN COUNTRIES TO ACTIVATE THEIR OWN MONETARY POLICY? MMMMM
THEY WERE BEING GIVEN A HEADS UP BECAUSE IRAN IS PUTTING A WRAP ON THEIR REFORM AND ITS SHIA BROTHER HAS BEEN WAITING TO GET THINGS UP AND RUNNING!
TODAY WE SEE THE IMF GETTING CHATTY AGAIN OVER THEIR GOLDEN CHILD! THEY ARE SO PLEASED THEY ONLY WANT TO HELP OUT WITH MACRO ECONOMIC STUFF! LOL
REMEMBER, VIETNAMS CLEVER MOVE WITH THEIR DEBT?
ONCE THE DOLLAR MAKES ITS TRANSITION PLUNGE AND DE-PEGS FROM BLACK GOLD, WE WILL END UP WITH ALL THE CURRENCIES IN THE SDR ESSENTIALLY BECOMING THE WORLDS RESERVE CURRENCIES. I LOOK THE U.S. TO REMAIN A MAJOR PLAYER ALONG WITH THE YUAN. DOC IMO
Mounainman: Ok….as far as VIETNAM……Two Words….”GLOBAL EXPLOSION”………Ok……LOL……and some More…..A Bridge Over Troubled Waters……..TPP……and ALL their Hand Shaking Agreements…..Iran…..Usa….Europe…..Need I say More…..OK……The Fastest Growing Middle Class Economy in 20+ Years…..and On and on it goes……Watch Out…Here They Come!!!!!!!! (8)…..IMO
Thunderhawk: IMF vows to help Vietnam gain macro-economic stability
The International Monetary Fund (IMF) wishes to work with Vietnam in its strongest fields, and pledges to provide addition technical assistance to help the country reach macro-economic stability.
President Truong Tan Sang and IMF Managing Director Christine Lagarde
At her meeting with President Truong Tan Sang in Hanoi on March 16, IMF Managing Director Christine Lagarde said that along with support from international organisations, including the IMF, the sound development policy and internal strength of Vietnam are decisive factors for the country’s achievements in poverty reduction, curbing inflation and primary education universalisation.
She also appreciated Vietnam’s development strategy towards quality and sustainability.
Speaking of the IMF’s assistance, particularly in preferential loans and policy consultation, President Truong Tan Sang also thanked the fund’s useful assessment of the country’s economic development.
With an expected GDP growth target of around 6 percent, Vietnam will attach importance to the quality of growth, focus on bank and enterprise restructuring, developing the private sector, attracting more foreign investment, and reforming the agricultural economy.
Therefore, the country hopes to receive further IMF recommendations and assistance to help it find more preferential loans and serve its sustainable economic growth, he said.
On the same day, Mrs Christine Lagarde also had another meeting with Prime Minister Nguyen Tan Dung, who said Vietnam is speeding up reform, improving national governance capabilities and upholding democracy
In the foreseeable future, Vietnam will continue stabilising the macro-economy and aim to achieve 7 percent growth in the next five years, PM Dung said.
The PM also congratulated his guest on being re-elected for a five-year tenure, for the second time, and spoke highly of the IMF for its regular supervision and consultation, especially advising Vietnam on macro-economic policies, technical support and personnel training.
On the back of Vietnam’s own efforts and global support, including the IMF’s, Vietnam has scored significant achievements across diverse areas, he said, adding that amid global economic integration, Vietnam consistently pursues the goal of rapid and sustainable development, economic growth in tandem with social progress and fairness.
The host hoped for receiving further IMF support on forecasting macro-economic development trends, thereby raising the country’s stature on the international scene.
Lagarde, for her part, said the IMF is targeting technical and educational support to Vietnam.
She suggested Vietnam continue improving labour productivity and business competitiveness, and vowed that the IMF is ready to help Vietnam fulfill its development goals.
http://www.vir.com.vn/imf-vows…..ility.html.
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BACKDOC: THUNDER JUST LIKE WE PREDICTED A YEAR AGO! TODAY WE SEE IT! IRAN SHIPPING OIL TO GREECE! THEY ARE SILK ROAD LOCKED AND LOADED! NOW WATCH FOR GERMANY TO JOIN THEIR PARTY! WHO IS BUILDING A RAIL SYSTEM FROM EUROPE TO IRAN? WHO IS BUILDING A MERCEDES FACTORY! RIGHT GERMANY!!!
Thunderhawk: Greece to buy first loads of Iran oil from Total: Report
Tehran, March 17, IRNA – Hellenic Petroleum (ELPE) will purchase its first delivery of Iranian crude oil indirectly from Tehran, despite of the Greek refiner’s signed deal with the National Iranian Oil Company (NIOC) earlier this year, Greek media reported.
‘Rather, this month’s load, and likely the next three, scheduled for April, will have to be purchased from France’s Total,’ ekathimerini.com reported according to the Iranian Ministry of Petroleum.
Athens-listed ELPE is currently unable to be supplied directly with Iranian oil quantities as provided by its deal signed with NIOC on January 22 due to the uncertainties following lifting of sanctions which are causing problems with ELPE’s payment of the first 100-million-euro installment of its 600-million-euro debt to the Iranian company, it said.
“We have disbursed the installment, but it has not yet reached Tehran,” an ELPE source was quoted saying to Kathimerini while Total has signed an agreement for the acquisition of major quantities of Iranian crude.
http://www3.irna.ir/en/News/82006302/
Mountainman: Yes,Yes,YES……These TWO Here …..INDIA/IRAN will be Complimenting each Others Economies…..hey Christine…..is that WHY??? You told India last Weekend Get Your Monetary Motions…..In Motion???….Hmmm…….Well as Doc says ACTION means things and Here w/Iran…this OIL Pipeline and Middle of April signing of TIMES….IMO….Yup….And the START of the (Feds) 2nd Quarter….Ending in June……I Like What I’m Seeing….However TIME will tell…..It ALWAYS Does….Right???…….LOL
Thunderhawk: Iran, India to sign Chabahar Port development deal soon
New Delhi, March 17, IRNA – Informed sources here announced that the contract for the implementation of the first phase of the project for the development of Chabahar Port will be signed between Iran and India in a near future.
he $85 million letter of understanding for India’s investment in Chabahar was signed between the Indian Minister for Road Transport and Highways Nitin Gadkari and Iran’s Abbas Akhundi, Minister of Road and Urban Development, during the former’s visit to Iran in May.
However, with the passage of 10 months since the signing of the letter of understanding so far the Indian side has taken no measure for investment.
The English language daily Business Line Thursday quoted informed sources as saying that the contract for the development of Chabahar Port will be signed in the Maritime India Summit – 2016, April 14-16.
According to the report, Iran’s Ports Organization in a 10-year contract has transferred development of Chabahar to the Iranian Arya Bandar Company which has signed a contract with the Indian Ports Global PVT. Ltd.
The Indian company will undertake the development of two jetties in Chabahar port for a period of 10 years and will transfer all cargo consignments except for oil products.
India plans to participate in implementation of the second phase of development of Chabahar, including building 500 km railway between Chabahar and Zahedan which will connect Chabahar to Central Asia.
http://www3.irna.ir/en/News/82006308/
BACKDOC: AND NOW ITS TIME FOR ME TO LIE IN MY BED! HEE HEE
GOOD THREE DOG NIGHT FAMILY DOC IMO
Thunderhawk: Good night Frank – Family – Friends
