mcdan wrote on June 28th, 2014
FYI THE BONDS WERE SET AT $3.71 AND THIS ARTICLE SAYS THEY WENT TO $.87 .
I wonder if a rebase RI caused a drop in the rate and a RV will reset the rate to $ 3.71 ?
June 28th, 2014
Iraqi bond holders to make a profit
06/28/2014 09:22 Confirm the reports and experiences of Iraq to its potential and its full commitment to repay foreign debt enhances the increase fiscal revenue that came from the high volume of oil exports, which recently reached 2.6 million barrels per day. Despite the fall in the price of the Iraqi bonds to 87 cents per dollar - by Reuters report –
but that investors and bond holders have made a profit over the perceptions of the existence of insurance for five years in order to ensure payment in the event of a debt restructuring. In this regard, said economic expert, Dr. Majid picture: that Iraq continuously pay debts of foreign trade amounting to 20 million dollars, stressing that the benefits of it will enter into repayment in 2020 is also due to expire shot on all the bonds in 2028. added picture in a statement (morning):
that there are debts unsettled amount in the highest estimates two billion and 500 000 dollars which is not resolved until Now that he's flying suits, what calls to make sure they are correct If they are correct to be paid under the terms of the Paris Club. , and added that Iraq only commercial debt bonds, which continuously pay them, stressing that the financial resources of Iraq rises over its ability to repay the debt are growing as Iraq has not been without its financial obligations in terms of debt repayment.
Iraq will pay the benefits of it, amounting to 5.8 percent, I do not think that Iraq will fall reimbursed because of its financial resources increasing and continuous from its oil exports, which amounted to 2.6 million barrels, stressing that the reputation enjoyed by Iraq to pay its debts reputation good came through repaid debt of Kuwait and other countries, according to the Paris Club or to the trade creditors are continuous and systematic.
confirmed that the picture of Iraqi funds are now protected by the central bank as a deal with five central banks of the five countries give protection to the money the central as long as the bank continued to work as an independent body from the government. claims new commercial debt department, including older statute of limitations in time and some of them claims malicious and untrue and without identity documents and other division took a ruling categorically repayment, but there is disagreement about the payment because he must be in accordance with the Paris Club ,
the report indicates that the size of the debt for bonds of Iraq, which was launched in 2006 to restructure the business debt is relatively small and amounted to 2.7 billion dollars. in the same context, said economic expert, Dr. appearance of Mohammed Saleh: that the efficiency of Iraq's financial high, as it has the capacity to fulfill its debts. said in a statement (morning) that some creditors have rulings lawsuit to satisfy the debt to 100 percent and groomed unknown, but it does not pose a threat, and at the same time sizeable, especially as the country paid the bulk of them.
confirmed that Iraqi funds are protected self with the CBI being an independent institution which gives him the power of respect in international forums for central banks. He said the money in the Central Bank is not a commercial, but backup represents the cover of the coin or related processes, so deal specificity of the subject of immunities on the money, as it has immunity implied.
Salih noted that the rest of the reserves of the Central Bank in other countries deposited and managed by central banks provide protection Iraq's money since 2007, so it is not easy to assault her by creditors.
I like your FYI. The $ .87 would be a nice starting point for a float towards $3.71!
“By the end of the year the stock exchange will open if no problems present themselves."
So we should have an internationally traded dinar by the end of the year. If ISX opens on July 1 then we should see an internationally traded dinar by this coming Tuesday. Right? Anyone?
I would think the ISX would want to trade internationally in dinar.
Prestigious companies register in Erbil Stock Exchange
Hemin Salih BasNews, Erbil
The Arab Federation of Exchanges (AFE) has approved the request of the Erbil Stock Exchange (ESE) to join the AFE.
Following the participation of ESE in AFE’s annual meeting in Dubai on June 4th, ESE requested they take steps forward in confirming their membership in AFE.
The Chairman of ESE Abdulla Ahmad Abdul Rahim told BasNews that following AFE’s annual meeting, they looked through ESE’s CV and chose to accept their request based on their qualifications.
“Being a member of AFE will open doors for the members of ESE that they can benefit from the exchange through training, workshops, and market studies,” said Abdulrahim.
“By the end of the year the stock exchange will open if no problems present themselves. Buying and selling will be based on the shares of the companies and so far many prestigious companies have registered their names. It is also expected that most of the companies in the Kurdistan Region will be ready to participate in this exchange,” added Abdulrahim.
“Buying will be done in Iraqi Dinar and we don’t think the opening of the exchange will have an impact on increasing the value of Dollar or Dinar,” said Abdulrahim.
He also pointed out that AFE membership would increase to 18 when ESE is officially confirmed.
AFE was established in June 1978 to be the guiding body for the Arab stock exchanges, under the recommendation of the Arab Central Banks Conference, held under the auspices of the General Secretariat of the League of Arab States in Jordan.
June 28th, 2014, 12:09 pm
Kuwait launches new currency Tomorrow Saturday 28 June 2014
The Governor of Central Bank of Kuwait, Dr. Mohammed Hashel start trading the sixth version of the categories of new banknotes Kuwait on Sunday.
Said Hashel, said putting banknotes of the sixth version of the new Kuwaiti dinar trading does not affect the validity of the banknotes of the fifth edition of the dinar currently in circulation and strongly maintained discharge as legal tender until the issuance of a decision by dragging them from circulation later.
He added, according to the report by the Central Bank of Kuwait, it will be the announcement of the withdrawal decision at the time, and it and until the issuance of the withdrawal decision, the banknotes current of the fifth edition will remain valid for trading rule of law along the banknotes of the new version of the sixth in the current phase.
The Hashel that banknotes new Pfiadtha all will be available to the public via the devices debit at all banks operating in the country and inside the headquarters of these banks and their subsidiaries in addition to the devices debit the company (Ki. NET), pointing out that the central bank has provided all of these papers criticism.
The Hashel to release the sixth new categories banknotes Kuwait was based on the decision of the Cabinet decisions held on June 10 of last year to adopt the recommendation of the Board of Directors of Central Bank of Kuwait on version VI of the new banknotes Kuwaiti including the adoption of categories of issuance, design and colors and other security and technical specifications.
He pointed out that Hashel categories of Kuwaiti banknotes for the new version are the current categories themselves (fifth edition) without adding any new categories and classes are (quarter of a dinar and a half dinars and the dinars and five dinars and ten dinars and twenty dinars).
Hashel explained in previous statements that the volume of money in circulation in the market with a 1.5 billion Kuwaiti dinars, adding that the new offering aims to replace this number of new currencies within a year.
Hashel pointed out that the new currency carry a lot of the protections against counterfeiting and damage, noting that the design and implementation process took into account the highest standards of accuracy.
June 28th, 2014, 1:06 pm
Isn't anyone else excited about Kuwait new currency announcements? Wasn't it thought they would come out with new currency and a possible new rate to stay in line with Iraq????
I sure am!!! Woohooooo