Thread: Iraq/Dinar News. 09/05 to 01/14/07

Citigroup, $70m Iraq credit

posted by Big Wave at IIF

Citigroup has introduced a $70m structured credit facility for the Trade Bank of Iraq, allowing it to issue letters of credit which will be confirmed by leading financial institutions.
Citigroup, $70m Iraq credit | Banking and Industry

Originally Posted by PAn8tv

Citigroup, $70m Iraq credit

posted by Big Wave at IIF

Citigroup has introduced a $70m structured credit facility for the Trade Bank of Iraq, allowing it to issue letters of credit which will be confirmed by leading financial institutions.
Citigroup, $70m Iraq credit | Banking and Industry

Good to see all these banks like HSBC, Citigroup and others getting involved. Now why would they do that, banks only think one way, $$$$$........

Originally Posted by Adster

Good to see you on here matey.

Yes you're right, we know the dinar is at an artifical program rate that is not a true reflection of its real value. Even the MOF has stressed the need to get the value up to their neighbours/back to what it was before.

We know it's close but we also know how slow they are about doing anything...

Hi matey,

They wouldn't necessesarily need the FIL passed just a RV for trading with Jordan or whoever.

But they also need to clamp down on the Blackmarket and trading illegally along the border countries. The only way to do this is RV, it'll kill it overnight.

Press reports said today that Iraq will provide Jordan with oil at a preferential price of 10 dollars per barrel.


Is it a bit cheap at $10 dollars per barrel? Seem low to me.

Thanks Everybody for the news!!

RV soon

So they don´t sell or buy anything from other countries now or are they trading with other currencies?

Originally Posted by clintstella

Hi matey,

They wouldn't necessesarily need the FIL passed just a RV for trading with Jordan or whoever.

But they also need to clamp down on the Blackmarket and trading illegally along the border countries. The only way to do this is RV, it'll kill it overnight.

Yup for sure, as you said below elsewhere, we agree that it looks like a r/v between Saudi and Jordan is very possible with the wealth they have and the fact they are working more closely together and it will be a starting point to get it back to its old rate.........This rate will get tid of the majority of smaller speculators and be bought up by bigger fish with anticipation of it rising to $3-$4 before 2010 and the GCC.



3.42 - Kuwait
2.62 - Saudi
1.40 - Jordan
0.74 - Turkey
0.018 - Syria

.00012 Iran

Originally Posted by opps50

If the oil is what other countries are after and can at this moment import oil like jordan does, WHY is a reval neccesary and why is a FIL neccesary or do they not import oil at the moment but plan to do it?

I am not sure, but senses tell me that Importing /Exporting are separate from Foreign Investment - which allows businesses to set up or invest money into reconstruction projects - provision of other needs - such as cell phones, water, manufacturing plants, whatever the people in Iraq would want of need, books , schools,

Yep you are correct. FIL is drawn up to protect both Iraq from Foreign investors buying up their country and also to protect foreign investment/future profits etc, without the FIL noone in their right mind will invest in Iraq. This is a totally seperate issue to trading with other countries.

Originally Posted by Adster

Yup for sure, as you said below elsewhere, we agree that it looks like a r/v between Saudi and Jordan is very possible with the wealth they have and the fact they are working more closely together and it will be a starting point to get it back to its old rate.........This rate will get tid of the majority of smaller speculators and be bought up by bigger fish with anticipation of it rising to $3-$4 before 2010 and the GCC.



3.42 - Kuwait
2.62 - Saudi
1.40 - Jordan
0.74 - Turkey
0.018 - Syria

.00012 Iran

Hey mate,

Just had a thought, what is the likley hood of RV'ing below that of Saudi and Jordan? Wouldn't they want some sort of consession to gain some of the forgiven debt back? Another reason for Saudi to be the last to forgive the debt, they want to know what they will be getting out of the RV?

Thoughts that's all.

OK, then I don´t see why there is such a rush in revaluing the dinar and getting the FIL done.

They are exporting oil anyway so that is not dependent on the dinar

Originally Posted by clintstella

Yep you are correct. FIL is drawn up to protect both Iraq from Foreign investors buying up their country and also to protect foreign investment/future profits etc, without the FIL noone in their right mind will invest in Iraq. This is a totally seperate issue to trading with other countries.