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

For sure Mike for sure,

These bonds have had such a demand, the prices since those who bought the bonds at 11% paid less for the bonds; therefore, it follows that those buying at 9.87% are paying more for them. This represents more confidence in Iraq, as folks are willing to pay more for the bond.

I really think this is a huge step forward. This was like a little 'test', almost like putting your bait in the water to test how big the fish are, exactly the same with the bonds. If they hadn't been bought up at such a rapid rate then it would have shown Iraq the world weren't ready to have them back withing their fold. This seems to have gone better that anyone could have imagined!!

The more money put in their economy can only be good for the dinar, and 'our investment'.

I intend to invest in the ISX once the UK banks will accept the dinar. WHY? Well, it's like buyng up 'penny shares' that will go up and up in value in time, it has to happen. Plus you'd also be doing your part for the rebuilding of Iraq's economy.

Everyone's a winner!

Guys,

Just found this, sure I've not posted it already. The part that sticks out is this bit, especially the last line!


WASHINGTON, Jan 19 (Reuters) - Iraq's new government, facing important economic tests, should send a clear signal to donors and investors that the country is open for business, the U.S. Treasury's No. 2 official says.

In an interview with Reuters late on Wednesday, U.S. Treasury Deputy Secretary Robert Kimmitt said the new government would need to quickly ensure that its laws promote a vibrant economy, particularly when it comes to foreign investment.

http://www.alertnet.org/thenews/newsdesk/N18314846.htm

Iraq government faces economic tests-U.S. Treasury
19 Jan 2006 05:01:09 GMT
Source: Reuters
By Lesley Wroughton

WASHINGTON, Jan 19 (Reuters) - Iraq's new government, facing important economic tests, should send a clear signal to donors and investors that the country is open for business, the U.S. Treasury's No. 2 official says.

In an interview with Reuters late on Wednesday, U.S. Treasury Deputy Secretary Robert Kimmitt said the new government would need to quickly ensure that its laws promote a vibrant economy, particularly when it comes to foreign investment.

"We have reached a point where it is appropriate to give the Iraqis the time they need to form the new government, and then I'm sure they'll be as interested as we and others in quickly engaging in discussions on the economic front," Kimmitt said.

The final outcome of Iraq's Dec. 15 election is expected on Friday, after which the government will select its leaders and ministers.

Kimmitt said investors were waiting to explore opportunities in Iraq.

"We have had conversations with companies from many sectors, including the energy sector, interested in our perspective on what is happening and what people are seeing on the ground," he noted.

"We're seeing a steady increase in the number of companies reaching out to us with questions, with comments, with suggestions, that I would think is an indication of growing interest."

Kimmitt said it was also time for donors to make good on initial pledges of financial assistance to help Iraq rebuild.

"It would seem to me that it's time for donors to discharge pledges, and, as the new government forms, to begin discussions on perhaps how some of that money would be employed," he said, adding donors should also initiate new talks on additional aid.

Documents from the International Monetary Fund say that very little of a $1.1 billion international donor facility for Iraq has been disbursed. A large share of bilateral support for Iraq has either not gone into the domestic economy or is being used to cover security outlays, it noted.

BOND ISSUE

Kimmitt said despite a tough security situation, Iraq had made progress in laying the foundation for a market-based economy, winning a crucial loan accord with the IMF and securing a $14 billion debt swap with private lenders on Dec. 23.

"It is an affirmation by an international body that Iraq is in a position to be judged as an economy based on market principles," Kimmitt said, "I think the Iraqis intend to live up to their responsibilities in the agreement."

The $685 million IMF program will seek to stabilize the Iraqi economy, while laying the foundation for sustainable growth. It sees growth accelerating to 10 percent in 2006, from 2.6 percent last year, driven by higher oil output.

Iraq will face an important test in international markets on Monday when its sovereign debt formally begins trading.

The Iraqi government announced on Wednesday it was delaying the commercial debt offer to Monday, Jan. 23 from Thursday.

"We would certainly hope and expect that this would be yet another point along the path toward Iraq becoming a self-sustaining market-based economy," Kimmitt said of the debt offer.

Traders have said that the Iraqi bonds, which mature in 2028 and carry a coupon of 5.8 percent, have already drawn investor interest, trading in the grey market around the 10.75 to 11 percent yield range. <IQ024029557=>

Kimmitt said it was up to the IMF and the World Bank to decide when they could open permanent offices in Iraq. Both institutions pulled out in August 2003 after the bombing of the U.N. headquarters in Baghdad, and now mostly operate from neighboring Jordan.

Just out of curiosity, can the average joe buy these bonds? Through whom?
digging out from a foot of snow in Colorado today!
kristin

No chance, they were only sold commercially. You wouldn't have wanted to get involved kris, they don't mature till 2028! Lol.

The dinar will have made you wealthy by then!

The Iraqi Dinar is listed in the Foreign Currency Exchange section with all of the other world currencies, www.globeandmail.com . The G&M is a well respected Newspaper (Canada/World wide) especially pertaining to business and money markets. The fact that they are tracking it at all is extremely good news.

Save you looking it up. Am too good to you lot!!

http://www.theglobeandmail.com/servl...reign+exchange

Iraq Dinar 1469.2 per USD per unit 0.000785

Interesting,

Monday, Monday, can't wait to see how well the new Iraqi Bonds will do internatioanally.

Good luck to all, Mike

i've heard of warka. besides this, what is - or will be - the easiest way for anyone in the us to invest in the isx?

bonds till 2028... gee, i may be in bardo by then.

anyone hear the cry of war profiteering!? that would be a huge, "Doh"!

once/if the dinar gets pegged, say at a rather small increase, how would this reflect on the current selling price? meaning, would the selling price closely reflect this or jump hugely?

i suppose we will be taxed on this. maybe we can find online sources to trade them in!?

My prediction...

IRAQI DINAR vs US DOLLAR
now...................> .0000crap = 1 USD very near future.......> 2.45 = 1USD

= us investors who were willing to take the risk based on historical facts and present ones = :) :) :) :) :) :) :)