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wmawhite says first step of the IQD reentering the world currency markets is when the IQD is on the bond market
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wmawhite says first step of the IQD reentering the world currency markets is when the IQD is on the bond market
wmawhite
Well, well ,well...now the U.S. News and World Report is reporting the same thing:.."US News & World Report - Iraqi selling intl bonds and redominating currency...Reacting to the crisis, Iraq plans to issues bonds worth $7 billion — $5 billion in international bonds... Iraq also revived a long-delayed plan to redenominate the Iraqi dinar by knocking three zeroes off the nominal value of its banknotes, said Ihsan Shamran al-Yassiri, the head of Iraq Central Bank Issuing and Vaults Department" the significance is that the IQD will be on the bond market. The bond market is twice the size of all of the world's stock markets combined. when the IQD is on the bond market the individual bonds are able to move freely. This is the first step of the IQD reentering the world currency markets. Exciting and nice news.
[...will those bonds be in Dinar...or USD? the international ones?] The article...reports in IQD. [is redenominate the same thing as a LOP?] No...Understanding this, ...a LOP would be going in the opposite direction. Try to understand when a country LOP it is under huge inflation and the currency is losing value daily. Iraq has very little inflation and even the biggest critic will admit that the value of the IQD is much greater than 1166.
Well, well ,well...now the U.S. News and World Report is reporting the same thing:.."US News & World Report - Iraqi selling intl bonds and redominating currency...Reacting to the crisis, Iraq plans to issues bonds worth $7 billion — $5 billion in international bonds... Iraq also revived a long-delayed plan to redenominate the Iraqi dinar by knocking three zeroes off the nominal value of its banknotes, said Ihsan Shamran al-Yassiri, the head of Iraq Central Bank Issuing and Vaults Department" the significance is that the IQD will be on the bond market. The bond market is twice the size of all of the world's stock markets combined. when the IQD is on the bond market the individual bonds are able to move freely. This is the first step of the IQD reentering the world currency markets. Exciting and nice news.
[...will those bonds be in Dinar...or USD? the international ones?] The article...reports in IQD. [is redenominate the same thing as a LOP?] No...Understanding this, ...a LOP would be going in the opposite direction. Try to understand when a country LOP it is under huge inflation and the currency is losing value daily. Iraq has very little inflation and even the biggest critic will admit that the value of the IQD is much greater than 1166.
Ponee- Admin
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Re: wmawhite says first step of the IQD reentering the world currency markets is when the IQD is on the bond market
Took me a while to find the article simply because wmawhite made up their own title. Seems the real title, and the article paints a slightly less rosy picture.
Read the rest of the article https://www.dinardaily.net/t46279-iraq-s-economy-beaten-by-islamic-state-war-and-low-oil-prices-struggles
USA News & World Report wrote:Iraq's Economy in Trouble
Iraq's economy, beaten by Islamic State war and low oil prices, struggles amid rising protests
AGHDAD (AP) — In business since the 1960s, Karim al-Aboudi's family has seen Iraq's economy boom with oil wealth and bust through wars and the 2003 U.S.-led invasion, but today marks the worst downturn he's seen in decades.
Forced to fire 65 percent of his staff and close two of his six aluminum and glass factories, al-Aboudi's troubles mirror those facing business owners across Iraq. As the country battles the Islamic State group on the ground, it faces massive budget deficits brought on by the lowest global oil prices in six and a half years.
And while austerity cuts have helped Iraq fund its military effort against the extremists, it has slowed businesses like al-Aboudi's and construction firms that rely on government contracts.
Taking a deep puff of a cigarette, 65-year-old al-Aboudi said he and others don't see it getting much better soon: "The manufacturers and merchants are now only drinking tea and reading newspapers."
Since early 2014, Iraq has suffered a serious economic decline after the Shiite-led government in Baghdad started losing territory to the Sunni militants of the Islamic State group. Low oil prices exacerbated the decline, wreaking havoc on Iraq's national budget, of which oil revenue makes nearly 95 percent.
Read the rest of the article https://www.dinardaily.net/t46279-iraq-s-economy-beaten-by-islamic-state-war-and-low-oil-prices-struggles
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Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
Kevind53- Super Moderator
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Re: wmawhite says first step of the IQD reentering the world currency markets is when the IQD is on the bond market
The article in question was actually posted here at Dinar Daily last evening.
https://www.dinardaily.net/t46279-iraq-s-economy-beaten-by-islamic-state-war-and-low-oil-prices-struggles
https://www.dinardaily.net/t46279-iraq-s-economy-beaten-by-islamic-state-war-and-low-oil-prices-struggles
Ssmith- GURU HUNTER
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Re: wmawhite says first step of the IQD reentering the world currency markets is when the IQD is on the bond market
Thanks, I have not gotten that far yet.
*****************
Trust but Verify --- R Reagan
"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18
Kevind53- Super Moderator
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