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Millionday newstime 8/19/15
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Millionday newstime 8/19/15
by RoyBoy Wed Aug 19, 2015 10:32 pm
Millionday: NOTE -- WE ARE GOING TO LOOK AT A COUPLE THINGS BUT LOOK AT THIS ORDER FROM YESTERDAY FIRST
Millionday: Invitation to Iraqi banks and the Arab and international banks to apply for the implementation of the Custodian service in Iraq Stock Exchange.
Millionday: NOTE -- TO APPLY FOR IMPLEMENTATION -- SMILE
Millionday: NOW LOOK AT THIS -- SAME DAY
Millionday: Iraq hired banks for its first international bond issue in almost a decade, seeking $6 billion to help plug a widening fiscal deficit. The government appointed Citigroup Inc., Deutsche Bank AG and JPMorgan Chase & Co., said Muneer Mohammed Omran, director general of the central bank’s investor department in Baghdad. The bond program will be in tranches, with the first sale coming this year, he said by phone Tuesday. Spokesmen for the banks declined to comment.
Millionday: NOTE -- THE INTERNATIONAL BANKS ARE HIRED --- HUGE INFO WITH THIS REPORT
Millionday: Iraq, holder of the world’s fifth-largest oil reserves, is looking to bolster its finances amid civil conflict and the global slump in oil prices. Fitch Ratings expects the fiscal deficit to top 10 percent for 2015 because of lower crude prices, higher military spending and costs associated with civil unrest. It ranked Iraq five levels below investment grade this month in its first ratings for the country.
Millionday: NOTE -- REMEMBER THE CREDIT RATING WE READ ABOUT
Millionday: “Iraq is going through some difficulties at the moment because of its conflict with ISIS, but oil production is at a record high,” Anthony Simond, a London-based investment analyst who helps manage $13 billion of emerging-market debt at Aberdeen Asset Management Plc, said by e-mail. “Things could look a lot different if we see a rebound in oil prices.”
Millionday: NOTE -- NOW LOOK AT THIS PART
Millionday: The country plans to meet with international investors as soon as next month, said two people familiar with the program, asking not to be identified because the talks are private. Iraq’s bonds have fallen 4.5 percent in the past three months, more than double the loss on JPMorgan Chase & Co.’s EMBI Global Diversified Index. The yield on its notes due January 2028 rose 66 basis points this year to 8.55 percent today.
Millionday: NOTE -- JP MORGAN CHASE
Millionday: Iraq has struggled to emerge from violence after the U.S.- led occupation, with the army trying to recapture large areas of the country from Islamic State in a campaign backed by the U.S. Increased oil production has coincided with a market slump. The International Monetary Fund approved $1.24 billion of emergency financing in July. Government debt may equal 51 percent of Iraq’s gross domestic product by the end of 2015, with the ratio forecast to increase next year, Fitch said. Savings built up over years of high oil prices have largely been eroded, the ratings firm said
Millionday: NOTE -- IT IS NOT HARD TO KNOW CORRUPTION HAS TAKEN FROM THE GAINS THEY BUILT UP
Millionday: Iraq’s crude production climbed to an all-time high of nearly 4.2 million barrels a day in July, according to the International Energy Agency, with record exports from southern terminals mostly unscathed by Islamic State militants.
Millionday: SO AS WE SEE -- THEY EXPECT TO BE MEETING WITH INTERNATIONAL INVESTORS NEXT MONTH AND OBVIOUSLY ARE WORKING WITH BANKS AND ISX IMPLEMENTATION
Loop: So they start meeting with investors in the coming month. That is just before educational purposes. Is that correct or is there more to that?
Millionday: NO NOT EDUCATION -- THESE ARE INTERNATIONAL BANKS GLOBAL -- THEY ARE PAST THE EDUCATION STAGE -- THEY TALKING INVESTMENTS -- MOOLAH
Millionday: NOTICE THEY SAID INTERNATIONAL BANKS ON THE ISX ANNOUNCEMENT AS WELL
itsaboutjesus (IAJ): implementation of the Custodian service in Iraq Stock Exchange
do you have the link for that report?
Millionday: LINK >>>http://static.mubasher.info/File.Mix...3A59D014D9.pdf
============================
Millionday: Baghdad - Detect global site specializing economic news, Tuesday, for use of Iraq universal to banks to issue bonds international worth six billion dollars, returned it the first time carried out by Iraq such a move a decade ago to reduce the worsening fiscal deficit suffered by the size, while the view British economic analyst, that Iraqi oil production registered record levels, likely enable him to overcome the financial crisis if another rise in oil prices is what happened.
Millionday: NOTE -- HERE IS THE REPORT ABOUT WHAT WE JUST LOOKED AT
Millionday: The transfer site Bloomberg Bzenz Bloomberg Business US economic news, an official at the Central Bank of Iraq, as I followed the (long-Presse), saying that "Iraq used the world to banks to issue international bonds worth six billion dollars for the first time in a decade in order to reduce the worsening fiscal deficit size who suffers from it.
Millionday: NOTE -- SORRY FOR BAD TRANSLATION
Millionday: NOTE -- THEY ARE GOING TO ISSUE BONDS THROUGH THE INTERNATIONAL BANKS
Millionday: The director of the investment department at the Central Bank of Iraq, Munir Mohammed Imran, in an interview with Bloomberg Bzenz Bloomberg Business US economic news, followed up (range Press), he said that "the government has identified both the Citigroup Foundation Citigroup Inc banking services, and the Bank of Deutsche Bank AG German, with JP Morgan JP Morgan US banking services, for use to issue international bonds worth six billion dollars, "noting that" the bond program will be in the form of payments, will go first is for sale during the current year 2015.
Millionday: WHOOOPOW
Millionday: I LOVE THE CURRENT YEAR
Millionday: MUSIC PLEASE
Millionday: According to the site, that "Iraq, which includes the largest oil reserves in the world's fifth, seeks to strengthen the financial abilities amid difficult challenges represented by the war department in the country against al Daash, in conjunction with the sharp drop in world oil prices," expected to "inform the fiscal deficit in Iraq ratio During 2015, about 10 percent of gross domestic product because of the collapse of oil prices with high military effort expenses associated with the deterioration of the security situation in the country.
Millionday: NOTE -- THIS IMPACTS THE INTERNATIONAL EQUATION --- GDP DUE TO OIL PRICES -- SO THIS INVESTMENT GAIN IS GREAT NEWS AND CASH INTO THE ECONOMY
Millionday: Meanwhile, a British economic analyst, Anthony Saimund, from Aberdeen financial institution, according to the site by Bloomberg, said that "Iraq is now going through some economic difficulties caused by the war with al Daash," adding, "But oil production registered a high record levels, has undergone a significant change on the If these conditions are another rise in oil prices it has occurred.
Millionday: READ EVERY WORD >>>The Finance Minister, Hoshyar Zebari, said in (the 22 of June 2015), the determination of Iraq issuance of five billion dollars worth of bonds, to cover the budget deficit caused by low oil prices and the war with (Daash). The media sources recently revealed the use of the Iraqi government in all of JP Morgan, Citibank and Deutsche Bank to arrange the first bond issue in nine years in order to cover the budget deficit, indicating that Zebari and Iraqi officials others met with the three banks and institutions of credit rating Fitch and Moody's ( 16th of June 2015) to arrange it.
Millionday: SMILE >>>These sources also quoted Iraqi Minister of Finance, it is likely to start promoting those bonds, the end of July or early August 2015, in preparation for the issuance thereafter, stressing that every "thing going on the right track."
Millionday: SO AS WE SEE A MEETING HAS OCCURED AND THEY ARE NOW PLANNING TO MOVE FORWARD WITH PROMOTING FOR ISSUANCE --- HUGE NEWS
tubbyone: What do you make of this?
tubbyone: From US News: 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 plan is set to be implemented by 2017 after restructuring dinar by issuing two large banknotes — a 50,000 dinar note before the end of this year and 100,000 banknote next year — and canceling small ones.
tubbyone: http://www.usnews.com/news/business/...low-oil-prices
Millionday: WHOOPOW
Millionday: WE HAVE READ MANY TIMES THAT THE NEW CURRENCY MAY TAKE TWO YEARS TO BE COMPLETE SO >>>> after restructuring dinar by issuing two large banknotes — a 50,000 dinar note before the end of this year and 100,000 banknote next year — and canceling small ones.<<<
tubbyone: Hard to interpret it, it can go both ways
Millionday: NOTE -- ALSO IT READS THAT THE PLAN IS REVIVED
Millionday: NOT IMO
buck: with the bonds being sold in the near future, it does not make fiscal sense to sell them with a rate of 1166 then revalue and pay them off with a higher rate. it seems that a change in value of the currency would proceed the sale of the bonds, or a change in value would be put off for sometime. does that not make economic sense or am i missing something????
Millionday: IMO -- IT SOUNDS LIKE ECONOMIC LOGIC TO ME HUN -- WE DON'T HAVE A DATE ETC BUT --- THIS IS MORE THAN US BANKS AND ALSO INFORMS US THAT THEY WILL IMPLEMENT AFTER PROMOTE -- HOW DO YOU PROMOTE PAPER?
Baxter1243: End of Last week Saudi Arabia announced they will be selling up to 20 billion in Bonds... due to the low oil prices... their stock exchange has lost over 20 Per cent in the last month... Seems every country in the Middle East is selling bonds to stay above water....
My question is... who would you buy bonds from... Saudi Arabia with a AAA credit rating and a currency with value... or Iraq...with a B minus...and no currency....Mean while..US CRUDE today closed barely above 40 dollars... the lowest in almost seven years
Baxter1243: There is going to be a lot of bonds for sale... thats all I am saying... a lot
Millionday: THE REASON THAT AN INVESTOR WOULD CHOOSE ONE INVESTMENT OVER ANOTHER IMO IS ---- THE ABILITY OF GROWTH OR RAISE IN VALUE BEFORE PAY-OFF OR IN THIS CASE MATURITY
itsaboutjesus (IAJ) Millionday: I really believe the Custodian service and the ISX are VERY telling of where Dinar is at concerning going to international ... it seems that they are on schedule, and the they can't miss the train
Millionday: ITS -- GOOD POINT - AND THE REPORT WE HAD STATES THAT ALL IS ON TRACK
tubbyone: Haven't been able to find anything regarding bonds being valued in dinars or USD
Millionday: THEY ARE IRAQI BONDS AND EVERYTHING IN IRAQ IS DINAR VALUED BY LAW NOW -- REGULATIONS -- THE VALUE IN DINAR HAS NOT BEEN RELEASED YET -- BUT THE BONDS IT WOULD SEEM TO ME WHEN PROMOTED DUE TO REGULATIONS SHOULD BE PROMOTED IN DINAR SO -- WE HAVE TO WAIT BUT ACCORDING TO THIS JUST UNTIL NEXT MONTH -- MOST IS IMO
tubbyone: Do you think they can sell them at 1166. They seem to delay or circumvent everything else.
Millionday: I KNOW THE RESPONSE IS -- WELL THIS WAS ORIGINALLY STATED TO BE FROM OIL FUNDS -- US DOLLAR -- BUT IT WOULD STILL NEED A VALUE WORTH PROMOTING IN DINAR IMO
paul-o: Last night you mentioned that the 2nd round of reforms are scheduled to be complete by September 1. Do you think that includes all outstanding and important laws, including the HCL? Any ink on the tariffs?
Pablo: Third round. Second round was yesterday.
Millionday: YES -- THERE IS SOMETHING OUT ON TARIFFS I SAW --- NOT ON HCL --- AND I THINK IT HAD TO INCLUDE THE LABOR LAW AND INVESTMENT LAW
msbrat: THE LABOR LAW that is a done deal right?
Millionday: YES ACCORDING TO REPORT THE LAST PARAGRAPHS WERE VOTED THROUGH -- 159 FIRST SESSION AND THE REST NEXT
msbrat: cool and investment law coming pdq (PRETTY DARN QUICK)
Millionday: IT LOOKS AS THOUGH IT IS ON THE WAY
Baxter1243: Ok.... lets say the bonds are in Dinar... and they do issue them at 1166... and then six months from now... we have an RV of 1 dollar... would that bond then be worth 1000 times of what it was purchased at?
Millionday: WHEN IT MATURES --- SOME OF THE PROFITS WOULD BE USED TO REMOVE THE BUGS FROM YOUR TEETH IMO
itsaboutjesus (IAJ): That's why they have to RV 1st before releasing bonds; else they don't RV
================================
Millionday: Rashid linking House Speaker Saleem al-Jubouri, in the liberation of Anbar conference which was attended by the "morning", the success of liberalization cities mechanism raped terrorist gangs family unification and solidarity, cohesion and cooperation, while the governor of Anbar Suhaib al-Rawi said that the people of Anbar, the heart of man One and are involved in the liberation of their wallets whatever the sacrifices, announced Anbar Scholars Association adopted the draft reconciliation between the clans gray.
Millionday: HORRIBLE TRANSLATION
Millionday: JUBOURI IN ANBAR
Millionday:
Jubouri warned, in his speech the conference which was attended by the governor of Anbar Suhaib al-Rawi and a large number of the elders of Anbar and representatives of diplomatic missions in Iraq as well as international and Arab participation, that "It is time to chart a ourselves to the path of liberation through the gate of reunion and unification of efforts and unite the security forces with the local combat forces that have done well," asserting that "the people of Anbar are capable with their brothers in supporting their security forces to fight the battle of liberation", once again claim to " greater support for the people of Anbar. "
Millionday: NOTE -- THE SPEECH IS TELLING THE PEOPLE TO GET INVOLVED
Millionday: He called on the President of the legislative power of the political blocs to "support the adoption of the National Guard Law quickly as one of the most important means of support and assistance not to the people only Anbar but to the people of Nineveh, who are preparing for the Liberation of their wallets," adding that "the path of reform, which the government and Parliament began it does not exclude the security apparatus reform. "
Millionday: NOTE --- HE IS CALLING ON THE ADOPTION OF THE NATIONAL GUARD LAW --- SUPPORT IS NEEDED --- THE SECURITY REFORMS BRING HOPE WITH IT BEGINNING ALREADY -- GREAT NEWS
Millionday: He said al-Jubouri, "We started serious steps towards the security establishment support and renewal of their blood and strengthen their capacity," pointing out that "the first steps to reform this institution is to end the presence of security leaders by proxy." In turn, he considered the governor of Anbar province Suhaib al-Rawi, in his speech, said that "Anbar has become destructive almost entirely", noting that "the young people of Anbar is far from the culture and science, which is either busy saving his family from the loss or fight Daash
Millionday: NOTE -- THE ATTACKS HAVE TAKEN OVER ANBAR CITIZENS DUE TO DEFENDING THEMSELVES -- HUGE WORRIES OBVIOUSLY ----AND HE CALLS FOR THE REMOVAL OF ALL PROXY POSITIONS IN LEADER STATUS WITHIN SECURITY --
Millionday: THIS SHOULD HAVE BEEN DONE ALREADY
Millionday: " .alraoa added that "the elimination of Daash imperative stand as one in all fields, and dealing with reality quietly away from the marginalization, "asserting that" the people of Anbar, the heart of one man and are involved in the liberation of their wallets whatever the sacrifices. " He refuted the governor of Anbar what he described as "illusions" about non-participation of the people of the province in fighting against "Daash", pointing out that "Preservation sons until this moment are fighting together and with the security forces and the crowd popular in the fields of fighting against Daash," calling to "stand in tribute to more than eight thousand volunteers have answered the call of duty and joined the training camps to set off then to the land of the battle to cleanse the land of Anbar of Daash".
Millionday: NOTE -- OBVIOUSLY HE IS SAYING THAT THE CITIZENS ARE NEEDED IN THE WAR ON THIS AREA
Millionday: Anbar as "the unity of Iraq key and by the nation to cross to the other side," adding
that it "will be free demolished by Everyone will raise the banner of Iraq on all its buildings ".alhmam pointed out that he" will not be achieved in this country, but what we want him legal shift dominated by the logic of the state, "pointing out that it" legal state based on the rule of citizenship and that is everyone's responsibility "
Millionday: Calls for solidarity, cohesion and the adoption of the National Guard Law
tubbyone: From IMF website: On August 11, 2015 the Executive Board of the International Monetary Fund (IMF) approved1 the extension of the current SDR valuation basket by nine months from December 31, 2015 to September 30, 2016. ...Opinion?
Millionday: I DONT HAVE ONE HUN -- IT IS JUST A NINE MONTH EXTENSION
Millionday: I WOULD HAVE TO GUESS
tubbyone: It may affect the dinar
Millionday: NOT IMO
blanc: with all the news against malaki it just seem mighty strange he just strolls back in town still in his position. Could it be the saddam arrogance until hanging by a rope
Millionday: HE IS NOT IN IRAQ BY WHAT I SEE -- THIS IS JUST EXPECTATION IN A REPORT --
Millionday: Counting economic advisor to the prime minister, Haydar al-Abadi, said Tuesday that some talk about the possibility of the bankruptcy of the state "dark speculation baseless", and as he emphasized that the government is trying as much as possible to provide the financial sustainability of their priorities, such as defense and the salaries of employees and retirees, he saw that this is done through revitalization of the market to rely on themselves, not on oil. He said the appearance of Mohammed Saleh, said in an interview to the (long-Presse), said that "some talk about the possibility of the bankruptcy of the state and its inability to pay the employees' salaries after four months, just dark speculation baseless," noting that "the government is working according to the possibilities available to them and try as much as possible provision of financial sustainability of its priorities. "
Millionday: NOTE --- ABADI`S ECONOMIC ADVISOR SAYS THE RUMOR OF IRAQ BANKRUPT IS BASELESS ----- THEY ARE TRYING TO PROVIDE GOV BENEFITS AND REVITALIZE THE MARKET -- TO DIVERSIFY OIL RELIANCE
Millionday: Saleh added, that the "top of those priorities, the defense of Iraq, followed by salaries of employees providing they are the largest social segment, of which four million and 500 thousand employees, and more than three million and 500 thousand retired," returned to "pay the salaries of those employees and retirees slice touches the lives of the entire Iraqi people, so the government is keen to sustainability. " He said economic adviser Ebadi, that "reform paper presented by the Prime Minister, is keen to apply the social justice and the realization of the right by re-evaluating pensions, and reduce the allocation of Representatives and the three presidencies," expected to "show results during the next few days."
Millionday: NOTE -- WOW --- RE-EVALUATING PENSIONS ---AND APPLYING SOCIAL JUSTICE THROUGH REFORMS ---- RESULTS IN THE NEXT FEW DAYS -- WHOOPOW
Millionday: Saleh continued, that "the provision of financial sustainability is through the provision of economic activity of the market, in turn, generates income," stressing the need to "rely on the market itself, and not on oil, and through other resources such as agriculture, some important industries.
Millionday: SO OBVIOUSLY THE GOAL IS ACTIVATION OF ECONOMIC REFORMS AND ALL WE CAN DO IS WATCH BUT WHOOOPOW
.MOD.Swan2013MDCOPY: WHOOOPOOOWWWW!!!!
Millionday: WHHOOOPOW IS RIGHT --- ABADI HAS CANCELLED HIS CHINA VISIT AND REFORMS IS THE REASON --- LOVE IT --
tubbyone: Can I post something regarding bonds?
tubbyone: Reuters/Baghdad Iraq is discussing a possible bond issue worth nearly $6bn with Deutsche Bank and Citibank as part of its efforts to cover a huge projected budget deficit this year, Finance Minister Hoshiyar Zebari said. State revenues have tumbled along with falling oil prices just as Iraq faces a costly military campaign against Islamic State militants in its northern and western provinces, leaving a likely 25tn Iraqi dinar ($21.4bn) shortfall. To fund the deficit, Zebari said the finance ministry was looking at measures including the bond issue, borrowing from state banks, and converting some Iraqi bank assets held with the central bank into bonds.
Millionday: I JUST POSTED THIS HUN
tubbyone: No US news ever mentions a rate change to go with the bonds
Millionday: THAT IS DEFICIT
msbrat: do u think the warrant out for saadar will affect anything?
Millionday: I THINK HIS FOLLOWERS WILL NOT LIKE IT AND HE HAS MANY --- SO WITHIN THE COUNTRY -- YES -- FOR THE NATIONAL REFORMS -- NO
quicktolegit96: DID I MISS ANYTHING BIG TONIGHT
Millionday: YES
Millionday: SMILE
Millionday: HAVE A GREAT NIGHT AND HOPE THAT HAPPENS IN THREE DAYS
Millionday: TANK >>>>THEY ARE HOPING TO SHOW THE SOCIAL INJUSTICE OF THE ECONOMIC CONDITION CHANGES WITH THREE DAYS
tubbyone: Well it says they are trying to pay down defecit with bonds, but its never mentioned that the currency will revalue to go along with that
Millionday: THE BONDS ARE AN INVESTMENT IN THE HOPES OF GAIN ECONOMICALLY BY INTERNATIONAL INVESTORS AND DOMESTIC :winky winky:
Millionday: Invitation to Iraqi banks and the Arab and international banks to apply for the implementation of the Custodian service in Iraq Stock Exchange.
Millionday: NOTE -- TO APPLY FOR IMPLEMENTATION -- SMILE
Millionday: NOW LOOK AT THIS -- SAME DAY
Millionday: Iraq hired banks for its first international bond issue in almost a decade, seeking $6 billion to help plug a widening fiscal deficit. The government appointed Citigroup Inc., Deutsche Bank AG and JPMorgan Chase & Co., said Muneer Mohammed Omran, director general of the central bank’s investor department in Baghdad. The bond program will be in tranches, with the first sale coming this year, he said by phone Tuesday. Spokesmen for the banks declined to comment.
Millionday: NOTE -- THE INTERNATIONAL BANKS ARE HIRED --- HUGE INFO WITH THIS REPORT
Millionday: Iraq, holder of the world’s fifth-largest oil reserves, is looking to bolster its finances amid civil conflict and the global slump in oil prices. Fitch Ratings expects the fiscal deficit to top 10 percent for 2015 because of lower crude prices, higher military spending and costs associated with civil unrest. It ranked Iraq five levels below investment grade this month in its first ratings for the country.
Millionday: NOTE -- REMEMBER THE CREDIT RATING WE READ ABOUT
Millionday: “Iraq is going through some difficulties at the moment because of its conflict with ISIS, but oil production is at a record high,” Anthony Simond, a London-based investment analyst who helps manage $13 billion of emerging-market debt at Aberdeen Asset Management Plc, said by e-mail. “Things could look a lot different if we see a rebound in oil prices.”
Millionday: NOTE -- NOW LOOK AT THIS PART
Millionday: The country plans to meet with international investors as soon as next month, said two people familiar with the program, asking not to be identified because the talks are private. Iraq’s bonds have fallen 4.5 percent in the past three months, more than double the loss on JPMorgan Chase & Co.’s EMBI Global Diversified Index. The yield on its notes due January 2028 rose 66 basis points this year to 8.55 percent today.
Millionday: NOTE -- JP MORGAN CHASE
Millionday: Iraq has struggled to emerge from violence after the U.S.- led occupation, with the army trying to recapture large areas of the country from Islamic State in a campaign backed by the U.S. Increased oil production has coincided with a market slump. The International Monetary Fund approved $1.24 billion of emergency financing in July. Government debt may equal 51 percent of Iraq’s gross domestic product by the end of 2015, with the ratio forecast to increase next year, Fitch said. Savings built up over years of high oil prices have largely been eroded, the ratings firm said
Millionday: NOTE -- IT IS NOT HARD TO KNOW CORRUPTION HAS TAKEN FROM THE GAINS THEY BUILT UP
Millionday: Iraq’s crude production climbed to an all-time high of nearly 4.2 million barrels a day in July, according to the International Energy Agency, with record exports from southern terminals mostly unscathed by Islamic State militants.
Millionday: SO AS WE SEE -- THEY EXPECT TO BE MEETING WITH INTERNATIONAL INVESTORS NEXT MONTH AND OBVIOUSLY ARE WORKING WITH BANKS AND ISX IMPLEMENTATION
Loop: So they start meeting with investors in the coming month. That is just before educational purposes. Is that correct or is there more to that?
Millionday: NO NOT EDUCATION -- THESE ARE INTERNATIONAL BANKS GLOBAL -- THEY ARE PAST THE EDUCATION STAGE -- THEY TALKING INVESTMENTS -- MOOLAH
Millionday: NOTICE THEY SAID INTERNATIONAL BANKS ON THE ISX ANNOUNCEMENT AS WELL
itsaboutjesus (IAJ): implementation of the Custodian service in Iraq Stock Exchange
do you have the link for that report?
Millionday: LINK >>>http://static.mubasher.info/File.Mix...3A59D014D9.pdf
============================
Millionday: Baghdad - Detect global site specializing economic news, Tuesday, for use of Iraq universal to banks to issue bonds international worth six billion dollars, returned it the first time carried out by Iraq such a move a decade ago to reduce the worsening fiscal deficit suffered by the size, while the view British economic analyst, that Iraqi oil production registered record levels, likely enable him to overcome the financial crisis if another rise in oil prices is what happened.
Millionday: NOTE -- HERE IS THE REPORT ABOUT WHAT WE JUST LOOKED AT
Millionday: The transfer site Bloomberg Bzenz Bloomberg Business US economic news, an official at the Central Bank of Iraq, as I followed the (long-Presse), saying that "Iraq used the world to banks to issue international bonds worth six billion dollars for the first time in a decade in order to reduce the worsening fiscal deficit size who suffers from it.
Millionday: NOTE -- SORRY FOR BAD TRANSLATION
Millionday: NOTE -- THEY ARE GOING TO ISSUE BONDS THROUGH THE INTERNATIONAL BANKS
Millionday: The director of the investment department at the Central Bank of Iraq, Munir Mohammed Imran, in an interview with Bloomberg Bzenz Bloomberg Business US economic news, followed up (range Press), he said that "the government has identified both the Citigroup Foundation Citigroup Inc banking services, and the Bank of Deutsche Bank AG German, with JP Morgan JP Morgan US banking services, for use to issue international bonds worth six billion dollars, "noting that" the bond program will be in the form of payments, will go first is for sale during the current year 2015.
Millionday: WHOOOPOW
Millionday: I LOVE THE CURRENT YEAR
Millionday: MUSIC PLEASE
Millionday: According to the site, that "Iraq, which includes the largest oil reserves in the world's fifth, seeks to strengthen the financial abilities amid difficult challenges represented by the war department in the country against al Daash, in conjunction with the sharp drop in world oil prices," expected to "inform the fiscal deficit in Iraq ratio During 2015, about 10 percent of gross domestic product because of the collapse of oil prices with high military effort expenses associated with the deterioration of the security situation in the country.
Millionday: NOTE -- THIS IMPACTS THE INTERNATIONAL EQUATION --- GDP DUE TO OIL PRICES -- SO THIS INVESTMENT GAIN IS GREAT NEWS AND CASH INTO THE ECONOMY
Millionday: Meanwhile, a British economic analyst, Anthony Saimund, from Aberdeen financial institution, according to the site by Bloomberg, said that "Iraq is now going through some economic difficulties caused by the war with al Daash," adding, "But oil production registered a high record levels, has undergone a significant change on the If these conditions are another rise in oil prices it has occurred.
Millionday: READ EVERY WORD >>>The Finance Minister, Hoshyar Zebari, said in (the 22 of June 2015), the determination of Iraq issuance of five billion dollars worth of bonds, to cover the budget deficit caused by low oil prices and the war with (Daash). The media sources recently revealed the use of the Iraqi government in all of JP Morgan, Citibank and Deutsche Bank to arrange the first bond issue in nine years in order to cover the budget deficit, indicating that Zebari and Iraqi officials others met with the three banks and institutions of credit rating Fitch and Moody's ( 16th of June 2015) to arrange it.
Millionday: SMILE >>>These sources also quoted Iraqi Minister of Finance, it is likely to start promoting those bonds, the end of July or early August 2015, in preparation for the issuance thereafter, stressing that every "thing going on the right track."
Millionday: SO AS WE SEE A MEETING HAS OCCURED AND THEY ARE NOW PLANNING TO MOVE FORWARD WITH PROMOTING FOR ISSUANCE --- HUGE NEWS
tubbyone: What do you make of this?
tubbyone: From US News: 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 plan is set to be implemented by 2017 after restructuring dinar by issuing two large banknotes — a 50,000 dinar note before the end of this year and 100,000 banknote next year — and canceling small ones.
tubbyone: http://www.usnews.com/news/business/...low-oil-prices
Millionday: WHOOPOW
Millionday: WE HAVE READ MANY TIMES THAT THE NEW CURRENCY MAY TAKE TWO YEARS TO BE COMPLETE SO >>>> after restructuring dinar by issuing two large banknotes — a 50,000 dinar note before the end of this year and 100,000 banknote next year — and canceling small ones.<<<
tubbyone: Hard to interpret it, it can go both ways
Millionday: NOTE -- ALSO IT READS THAT THE PLAN IS REVIVED
Millionday: NOT IMO
buck: with the bonds being sold in the near future, it does not make fiscal sense to sell them with a rate of 1166 then revalue and pay them off with a higher rate. it seems that a change in value of the currency would proceed the sale of the bonds, or a change in value would be put off for sometime. does that not make economic sense or am i missing something????
Millionday: IMO -- IT SOUNDS LIKE ECONOMIC LOGIC TO ME HUN -- WE DON'T HAVE A DATE ETC BUT --- THIS IS MORE THAN US BANKS AND ALSO INFORMS US THAT THEY WILL IMPLEMENT AFTER PROMOTE -- HOW DO YOU PROMOTE PAPER?
Baxter1243: End of Last week Saudi Arabia announced they will be selling up to 20 billion in Bonds... due to the low oil prices... their stock exchange has lost over 20 Per cent in the last month... Seems every country in the Middle East is selling bonds to stay above water....
My question is... who would you buy bonds from... Saudi Arabia with a AAA credit rating and a currency with value... or Iraq...with a B minus...and no currency....Mean while..US CRUDE today closed barely above 40 dollars... the lowest in almost seven years
Baxter1243: There is going to be a lot of bonds for sale... thats all I am saying... a lot
Millionday: THE REASON THAT AN INVESTOR WOULD CHOOSE ONE INVESTMENT OVER ANOTHER IMO IS ---- THE ABILITY OF GROWTH OR RAISE IN VALUE BEFORE PAY-OFF OR IN THIS CASE MATURITY
itsaboutjesus (IAJ) Millionday: I really believe the Custodian service and the ISX are VERY telling of where Dinar is at concerning going to international ... it seems that they are on schedule, and the they can't miss the train
Millionday: ITS -- GOOD POINT - AND THE REPORT WE HAD STATES THAT ALL IS ON TRACK
tubbyone: Haven't been able to find anything regarding bonds being valued in dinars or USD
Millionday: THEY ARE IRAQI BONDS AND EVERYTHING IN IRAQ IS DINAR VALUED BY LAW NOW -- REGULATIONS -- THE VALUE IN DINAR HAS NOT BEEN RELEASED YET -- BUT THE BONDS IT WOULD SEEM TO ME WHEN PROMOTED DUE TO REGULATIONS SHOULD BE PROMOTED IN DINAR SO -- WE HAVE TO WAIT BUT ACCORDING TO THIS JUST UNTIL NEXT MONTH -- MOST IS IMO
tubbyone: Do you think they can sell them at 1166. They seem to delay or circumvent everything else.
Millionday: I KNOW THE RESPONSE IS -- WELL THIS WAS ORIGINALLY STATED TO BE FROM OIL FUNDS -- US DOLLAR -- BUT IT WOULD STILL NEED A VALUE WORTH PROMOTING IN DINAR IMO
paul-o: Last night you mentioned that the 2nd round of reforms are scheduled to be complete by September 1. Do you think that includes all outstanding and important laws, including the HCL? Any ink on the tariffs?
Pablo: Third round. Second round was yesterday.
Millionday: YES -- THERE IS SOMETHING OUT ON TARIFFS I SAW --- NOT ON HCL --- AND I THINK IT HAD TO INCLUDE THE LABOR LAW AND INVESTMENT LAW
msbrat: THE LABOR LAW that is a done deal right?
Millionday: YES ACCORDING TO REPORT THE LAST PARAGRAPHS WERE VOTED THROUGH -- 159 FIRST SESSION AND THE REST NEXT
msbrat: cool and investment law coming pdq (PRETTY DARN QUICK)
Millionday: IT LOOKS AS THOUGH IT IS ON THE WAY
Baxter1243: Ok.... lets say the bonds are in Dinar... and they do issue them at 1166... and then six months from now... we have an RV of 1 dollar... would that bond then be worth 1000 times of what it was purchased at?
Millionday: WHEN IT MATURES --- SOME OF THE PROFITS WOULD BE USED TO REMOVE THE BUGS FROM YOUR TEETH IMO
itsaboutjesus (IAJ): That's why they have to RV 1st before releasing bonds; else they don't RV
================================
Millionday: Rashid linking House Speaker Saleem al-Jubouri, in the liberation of Anbar conference which was attended by the "morning", the success of liberalization cities mechanism raped terrorist gangs family unification and solidarity, cohesion and cooperation, while the governor of Anbar Suhaib al-Rawi said that the people of Anbar, the heart of man One and are involved in the liberation of their wallets whatever the sacrifices, announced Anbar Scholars Association adopted the draft reconciliation between the clans gray.
Millionday: HORRIBLE TRANSLATION
Millionday: JUBOURI IN ANBAR
Millionday:
Jubouri warned, in his speech the conference which was attended by the governor of Anbar Suhaib al-Rawi and a large number of the elders of Anbar and representatives of diplomatic missions in Iraq as well as international and Arab participation, that "It is time to chart a ourselves to the path of liberation through the gate of reunion and unification of efforts and unite the security forces with the local combat forces that have done well," asserting that "the people of Anbar are capable with their brothers in supporting their security forces to fight the battle of liberation", once again claim to " greater support for the people of Anbar. "
Millionday: NOTE -- THE SPEECH IS TELLING THE PEOPLE TO GET INVOLVED
Millionday: He called on the President of the legislative power of the political blocs to "support the adoption of the National Guard Law quickly as one of the most important means of support and assistance not to the people only Anbar but to the people of Nineveh, who are preparing for the Liberation of their wallets," adding that "the path of reform, which the government and Parliament began it does not exclude the security apparatus reform. "
Millionday: NOTE --- HE IS CALLING ON THE ADOPTION OF THE NATIONAL GUARD LAW --- SUPPORT IS NEEDED --- THE SECURITY REFORMS BRING HOPE WITH IT BEGINNING ALREADY -- GREAT NEWS
Millionday: He said al-Jubouri, "We started serious steps towards the security establishment support and renewal of their blood and strengthen their capacity," pointing out that "the first steps to reform this institution is to end the presence of security leaders by proxy." In turn, he considered the governor of Anbar province Suhaib al-Rawi, in his speech, said that "Anbar has become destructive almost entirely", noting that "the young people of Anbar is far from the culture and science, which is either busy saving his family from the loss or fight Daash
Millionday: NOTE -- THE ATTACKS HAVE TAKEN OVER ANBAR CITIZENS DUE TO DEFENDING THEMSELVES -- HUGE WORRIES OBVIOUSLY ----AND HE CALLS FOR THE REMOVAL OF ALL PROXY POSITIONS IN LEADER STATUS WITHIN SECURITY --
Millionday: THIS SHOULD HAVE BEEN DONE ALREADY
Millionday: " .alraoa added that "the elimination of Daash imperative stand as one in all fields, and dealing with reality quietly away from the marginalization, "asserting that" the people of Anbar, the heart of one man and are involved in the liberation of their wallets whatever the sacrifices. " He refuted the governor of Anbar what he described as "illusions" about non-participation of the people of the province in fighting against "Daash", pointing out that "Preservation sons until this moment are fighting together and with the security forces and the crowd popular in the fields of fighting against Daash," calling to "stand in tribute to more than eight thousand volunteers have answered the call of duty and joined the training camps to set off then to the land of the battle to cleanse the land of Anbar of Daash".
Millionday: NOTE -- OBVIOUSLY HE IS SAYING THAT THE CITIZENS ARE NEEDED IN THE WAR ON THIS AREA
Millionday: Anbar as "the unity of Iraq key and by the nation to cross to the other side," adding
that it "will be free demolished by Everyone will raise the banner of Iraq on all its buildings ".alhmam pointed out that he" will not be achieved in this country, but what we want him legal shift dominated by the logic of the state, "pointing out that it" legal state based on the rule of citizenship and that is everyone's responsibility "
Millionday: Calls for solidarity, cohesion and the adoption of the National Guard Law
tubbyone: From IMF website: On August 11, 2015 the Executive Board of the International Monetary Fund (IMF) approved1 the extension of the current SDR valuation basket by nine months from December 31, 2015 to September 30, 2016. ...Opinion?
Millionday: I DONT HAVE ONE HUN -- IT IS JUST A NINE MONTH EXTENSION
Millionday: I WOULD HAVE TO GUESS
tubbyone: It may affect the dinar
Millionday: NOT IMO
blanc: with all the news against malaki it just seem mighty strange he just strolls back in town still in his position. Could it be the saddam arrogance until hanging by a rope
Millionday: HE IS NOT IN IRAQ BY WHAT I SEE -- THIS IS JUST EXPECTATION IN A REPORT --
Millionday: Counting economic advisor to the prime minister, Haydar al-Abadi, said Tuesday that some talk about the possibility of the bankruptcy of the state "dark speculation baseless", and as he emphasized that the government is trying as much as possible to provide the financial sustainability of their priorities, such as defense and the salaries of employees and retirees, he saw that this is done through revitalization of the market to rely on themselves, not on oil. He said the appearance of Mohammed Saleh, said in an interview to the (long-Presse), said that "some talk about the possibility of the bankruptcy of the state and its inability to pay the employees' salaries after four months, just dark speculation baseless," noting that "the government is working according to the possibilities available to them and try as much as possible provision of financial sustainability of its priorities. "
Millionday: NOTE --- ABADI`S ECONOMIC ADVISOR SAYS THE RUMOR OF IRAQ BANKRUPT IS BASELESS ----- THEY ARE TRYING TO PROVIDE GOV BENEFITS AND REVITALIZE THE MARKET -- TO DIVERSIFY OIL RELIANCE
Millionday: Saleh added, that the "top of those priorities, the defense of Iraq, followed by salaries of employees providing they are the largest social segment, of which four million and 500 thousand employees, and more than three million and 500 thousand retired," returned to "pay the salaries of those employees and retirees slice touches the lives of the entire Iraqi people, so the government is keen to sustainability. " He said economic adviser Ebadi, that "reform paper presented by the Prime Minister, is keen to apply the social justice and the realization of the right by re-evaluating pensions, and reduce the allocation of Representatives and the three presidencies," expected to "show results during the next few days."
Millionday: NOTE -- WOW --- RE-EVALUATING PENSIONS ---AND APPLYING SOCIAL JUSTICE THROUGH REFORMS ---- RESULTS IN THE NEXT FEW DAYS -- WHOOPOW
Millionday: Saleh continued, that "the provision of financial sustainability is through the provision of economic activity of the market, in turn, generates income," stressing the need to "rely on the market itself, and not on oil, and through other resources such as agriculture, some important industries.
Millionday: SO OBVIOUSLY THE GOAL IS ACTIVATION OF ECONOMIC REFORMS AND ALL WE CAN DO IS WATCH BUT WHOOOPOW
.MOD.Swan2013MDCOPY: WHOOOPOOOWWWW!!!!
Millionday: WHHOOOPOW IS RIGHT --- ABADI HAS CANCELLED HIS CHINA VISIT AND REFORMS IS THE REASON --- LOVE IT --
tubbyone: Can I post something regarding bonds?
tubbyone: Reuters/Baghdad Iraq is discussing a possible bond issue worth nearly $6bn with Deutsche Bank and Citibank as part of its efforts to cover a huge projected budget deficit this year, Finance Minister Hoshiyar Zebari said. State revenues have tumbled along with falling oil prices just as Iraq faces a costly military campaign against Islamic State militants in its northern and western provinces, leaving a likely 25tn Iraqi dinar ($21.4bn) shortfall. To fund the deficit, Zebari said the finance ministry was looking at measures including the bond issue, borrowing from state banks, and converting some Iraqi bank assets held with the central bank into bonds.
Millionday: I JUST POSTED THIS HUN
tubbyone: No US news ever mentions a rate change to go with the bonds
Millionday: THAT IS DEFICIT
msbrat: do u think the warrant out for saadar will affect anything?
Millionday: I THINK HIS FOLLOWERS WILL NOT LIKE IT AND HE HAS MANY --- SO WITHIN THE COUNTRY -- YES -- FOR THE NATIONAL REFORMS -- NO
quicktolegit96: DID I MISS ANYTHING BIG TONIGHT
Millionday: YES
Millionday: SMILE
Millionday: HAVE A GREAT NIGHT AND HOPE THAT HAPPENS IN THREE DAYS
Millionday: TANK >>>>THEY ARE HOPING TO SHOW THE SOCIAL INJUSTICE OF THE ECONOMIC CONDITION CHANGES WITH THREE DAYS
tubbyone: Well it says they are trying to pay down defecit with bonds, but its never mentioned that the currency will revalue to go along with that
Millionday: THE BONDS ARE AN INVESTMENT IN THE HOPES OF GAIN ECONOMICALLY BY INTERNATIONAL INVESTORS AND DOMESTIC :winky winky:
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Re: Millionday newstime 8/19/15
by Kevind53 Thu Aug 20, 2015 8:46 am
Some highlights ... or should I say low lights?
Production is at an all time high, but prices are at a ten year low, with nothing to indicate any sort of recovery in the short term.
Another sign of distress. As a point of reference a ten year T-Bill is currently paying 2.18%. Might be a place to invest though IF you like a lot of risk with your investments.
How about noting that they are hemorrhaging money due to low oil prices and there is no resolution in sight. Corruption has little, if anything to do with that.
While income has dropped to a 10 year low. They are desperately trying to generate income by selling more oil, but by selling more oil, they increase the current oversupply, exacerbating the issue and driving prices even lower. It's a lose-lose situation.
How about the fact that they have to BORROW money in the first place because they are running a deficit, not to mention they need to pay a very high interest rate to get that money? Definitely not a whoopow.
The average investor is more than willing to trade quality for return. Most investors in the bond market are looking for safe and stable long term gains ... i.e. AAA rated, not B- rated bonds. If they want or need a higher rate of return, they will look to the stock market, specifically mutual funds. The person who will look at the Iraqi bonds is someone who is willing to take a risk on junk bonds, face it that is what the Iraqi offerings are, junk bonds.
There is more of course, I don't have time to go over the while article like that, but if you read closely, and keep in mind the news, it becomes clear that at best MD is looking at everything through RV colored glasses and is blind to anything that does not fit her narrative. At worse, she is a very clever pumper. Oh here is one last tidbit that MD appears to have missed ...
Fitch Ratings expects the fiscal deficit to top 10 percent for 2015 because of lower crude prices, higher military spending and costs associated with civil unrest. It ranked Iraq five levels below investment grade this month in its first ratings for the country.
“Iraq is going through some difficulties at the moment because of its conflict with ISIS, but oil production is at a record high,” Anthony Simond, a London-based investment analyst who helps manage $13 billion of emerging-market debt at Aberdeen Asset Management Plc, said by e-mail. “Things could look a lot different if we see a rebound in oil prices.”
Production is at an all time high, but prices are at a ten year low, with nothing to indicate any sort of recovery in the short term.
Iraq’s bonds have fallen 4.5 percent in the past three months, more than double the loss on JPMorgan Chase & Co.’s EMBI Global Diversified Index. The yield on its notes due January 2028 rose 66 basis points this year to 8.55 percent today.
Another sign of distress. As a point of reference a ten year T-Bill is currently paying 2.18%. Might be a place to invest though IF you like a lot of risk with your investments.
The International Monetary Fund approved $1.24 billion of emergency financing in July. Government debt may equal 51 percent of Iraq’s gross domestic product by the end of 2015, with the ratio forecast to increase next year, Fitch said. Savings built up over years of high oil prices have largely been eroded, the ratings firm said
Millionday: NOTE -- IT IS NOT HARD TO KNOW CORRUPTION HAS TAKEN FROM THE GAINS THEY BUILT UP
How about noting that they are hemorrhaging money due to low oil prices and there is no resolution in sight. Corruption has little, if anything to do with that.
Iraq’s crude production climbed to an all-time high of nearly 4.2 million barrels a day in July, according to the International Energy Agency, with record exports from southern terminals mostly unscathed by Islamic State militants.
While income has dropped to a 10 year low. They are desperately trying to generate income by selling more oil, but by selling more oil, they increase the current oversupply, exacerbating the issue and driving prices even lower. It's a lose-lose situation.
the government has identified both the Citigroup Foundation Citigroup Inc banking services, and the Bank of Deutsche Bank AG German, with JP Morgan JP Morgan US banking services, for use to issue international bonds worth six billion dollars, "noting that" the bond program will be in the form of payments, will go first is for sale during the current year 2015.
Millionday: WHOOOPOW
Millionday: I LOVE THE CURRENT YEAR
How about the fact that they have to BORROW money in the first place because they are running a deficit, not to mention they need to pay a very high interest rate to get that money? Definitely not a whoopow.
My question is... who would you buy bonds from... Saudi Arabia with a AAA credit rating and a currency with value... or Iraq...with a B minus...and no currency....Mean while..US CRUDE today closed barely above 40 dollars... the lowest in almost seven years
Baxter1243: There is going to be a lot of bonds for sale... thats all I am saying... a lot
Millionday: THE REASON THAT AN INVESTOR WOULD CHOOSE ONE INVESTMENT OVER ANOTHER IMO IS ---- THE ABILITY OF GROWTH OR RAISE IN VALUE BEFORE PAY-OFF OR IN THIS CASE MATURITY
The average investor is more than willing to trade quality for return. Most investors in the bond market are looking for safe and stable long term gains ... i.e. AAA rated, not B- rated bonds. If they want or need a higher rate of return, they will look to the stock market, specifically mutual funds. The person who will look at the Iraqi bonds is someone who is willing to take a risk on junk bonds, face it that is what the Iraqi offerings are, junk bonds.
There is more of course, I don't have time to go over the while article like that, but if you read closely, and keep in mind the news, it becomes clear that at best MD is looking at everything through RV colored glasses and is blind to anything that does not fit her narrative. At worse, she is a very clever pumper. Oh here is one last tidbit that MD appears to have missed ...
Government debt may equal 51 percent of Iraq’s gross domestic product by the end of 2015, with the ratio forecast to increase next year
*****************
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
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