ABglow: I don’t understand, if Iraq is hours/days away from RVing their Dinar, and they are the richest oil/good asset nation on earth, why do they need a loan? They should lend the US money.
Speedy: When you get a loan, you agree to all the stipulations!!!
Fireball92: Jiminy, folks it really is not that complicated! Iraq has been drug thru the economic mud for over a decade. The Rv is not gonna fix all their finacial woes in a fell-swoop. It will take years, probably more than a decade for them to recover.
They need the loan to finance the foundation (infrastructure) of their recovery. Cant you see this?
The, IMF/UN/WB/ USA played hands-off for several years, giving Iraq the near free hand to fix their problem…. Maliki/ISIS and beginning to spend their reserve funds was the result. we were asked to return along with IMF to ‘supervise’ as they apparently are’nt at a point to ride without training wheels.
Ergo, we have been here an additional 4 years!
DAZ: LOANING MONEY TO A COUNTRY IS THE SAME THING AND REPRESENTS ACCEPTANCE INTO GLOBAL FINANCE AND COMMERCE.
ITS A DEBT BASED SYSTEM…EVERYBODY OWES EVERYBODY. I OWE, I OWE…OFF TO WORK I GO, ITS THE WAY IT WORKS.
THE MORE INDEBTED A PERSON OR ENTITY IS…THE MORE STABILE, CONSISTENT AND COMPLIANT THEY NEED TO BE…THERES ALWAYS MORE AT RISK.
THERE’S AN OLD SAYING IN THE ENTREPRENEUR WORLD……YOU CAN BORROW ALL THE MONEY YOU WANT…IF YOU ALREADY HAVE ENOUGH TO NOT NEED IT.
THE IMF LOANS ARE A GOOD THING…RIGHT? IVE NEVER KNOWN A BANK TO LOAN MONEY TO DESPERATE, BROKE, UNEMPLOYED PERSON WITH NO FUTURE PROSPECTS.
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RVAlready: I hope the IMF is in Iraq to tell them their days of dragging this out are over. Iraq needs the RV now, not further down the road. I doubt that Iraq will ever have political peace, but a revalued currency and international market and trading operations would help the country dramatically.
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SassyD: Investors will need more convincing before they can trust the Fed again — May 13, 2016 — http://www.marketwatch.com/story/investors-will-need-more-convincing-before-they-can-trust-the-fed-again-2016-05-13
SassyD: SWIFT and CIPS sign memorandum of understanding on cross-border interbank payment system cooperation — 25 March 2016 — LINK
