Salamon69: Whatever is transpiring on the CBI website it sure gets my attention! Not surprised strange happenings on 7/17/2017. I kind of expected it when I opened up my computer with the CBI website as my homepage. Would be interesting to know what is the message to the Iraqi people in Arabic. And the USD is removed. Mmmmmmmmmm Today we watch with fascination!
Frank26: Aloha …… Can i say something? …… i DARE You to miss tonight’s MONDAY CC ….(wink) We know all about the CBI WS ………… You will too tonight ………… IT’S GREAT !!! ……….. i think …LOL … BTW sorry but our CC will be heavy tonight ……… Bring a pillow……(Big Grin)
VSDK: Remember the “blow your socks off”? Well… This time Frank will shoot us out of this world!
Frank26: IMO ……………………….. YES !!! !!! !!! (smile) Like Krakatoa …………. Tonight’s MONDAY CC will be HEARD and FELT across the Surface of many Continents.
Quincy: I am going to post a conversation that I had a long time ago, and I am open for any rebuttal or basically a “that’s not correct”…but ….
Years ago, I’m recalling a conversation that I had with a person when Kuwait RV. And there was a hack or stall or something happened to deflect your attention away from an RV … because the king died. And immediately afterwords, Kuwait RV’d.
Now I am not sure that some things that are happening especially with CBI and the hack written in red letters today, but the translation then went on to be something about the crimes of Milaki, but, could this deflection of attention looking to ‘look over here’, be happening to slide in an RV ‘over there’?
As in, the left-hand should never know what the right hand is doing .
Jonlrv: You are correct! There was an article In the New York Times printed just one week BEFORE the Kuwaiti Banks reopened and they clearly say that the Kuwaiti Dinar was worthless.
7 Days AFTER this article stating the Kuwaiti Dinar was worthless the banks reopened and accepted the same “worthless” Kuwaiti Dinar at the exchange rate of $3.47 per 1 Kuwaiti Dinar.
Sirenfire: So I ask myself what value or rate are they talking about here for no deterioration against foreign currencies
Saleh: The Iraqi dinar is stable and there is no collapse fears against foreign currencies
Confirmed Prime Minister for Economic Affairs Advisor to the appearance of Mohammed Saleh , the stability of the Iraqi dinar exchange rate against foreign currencies and there are no fears of deterioration in value.
Saleh said in a press statement that some seek to reduce the Iraqi currency against foreign currencies for profit only, and on the external debt and borrowing Mohammed Saleh pointed out that internal and external borrowing to finance the budget deficit is a process that is not contractionary , as some claim it is a motivational process and expansive fight deflation do not affect the Iraqi economy.
Samson: Central puts solutions to avoid a shortage of the dollar during the holidays
17th July, 2017
Central bank, announced Monday, for finding solutions to avoid the shortage of the dollar and the deviation of the price in the days of holidays.
The bank said in a statement received, “Eye of Iraq News” that “in order to avoid any shortage in the presentation of the dollar in the market, in order to respond to the request without any shortage cause deviations in the exchange rate, it decided to implement the dollar requests declared for the holidays during the days that correspond to the days of the holiday in last week for a week vacation. ”
The bank said it was “also decided to implement the dollar applications holidays previously unannounced (sudden) on the day following the day off to make up for the days of disruption.”
Don961: Piggybacking (Auctions) explained …. so many holidays !!… Perhaps the recent upsurge is because Mosul was so close to being liberated … it was announced almost daily they were hours away wasn’t it …. and they just could not pinpoint the day … which would be a declared holiday …
They continue because they are anticipating more declared holidays … like say when Daesh is driven out of the remaining areas of the country , for example …. or maybe to celebrate a new international exchange rate … and a return to international status …. removal of sanctions , etc. … just theorizing
Samson: Adviser Abadi: Iraq in connection with the receipt of a new batch of the International Monetary Fund
17th July, 2017
Financial Advisor to the Prime Minister confirmed the appearance of Mohammed Saleh said that “Iraq is open to the institutions concerned with economic affairs in the world, just as we have the headquarters of the Fund and the World Bank welcome that we have the headquarters of the IMF states, noting that Iraq is in the process of receiving new impetus from the International Monetary Fund.
Saleh said in a statement «Journal News» that “Iraq has long agreements with the International Monetary Fund, any four agreements since 2003 to date, noting that” three to prepare credit agreements and the Convention and other “post-conflict” occurred after 2003 “.
He pointed adviser to Abadi, that “readiness credit program agreement signed in principle in the fifth month of the 2016 Fund and adopted by the of 7/7/2016 that is providing a loan for Iraq worth $ 5.3 billion over 36 months.”
Saleh said that “loan payments are divided into 6 major payments and 7 sub-batches, depending on Maeetm submitted requests from any Iraqi government when needed, noting that Iraq has received nearly a billion dollars.”
He noted that “Iraq is waiting for another installment loan is equivalent to 35% of the share of Iraq within the fund.”
He explained that “the loan determines the payment of a five-year grace period and two years and a low interest rate. LINK
Don961: Monday, July 17, 2017
Tehran Hosts 1st Banking Meeting With Hanoi
Central Bank of Iran’s Governor Valiollah Seif met with Deputy Governor of the State Bank of Vietnam Nguyen Thi Hong on Sunday in Tehran, during which he called for establishing strong banking links between the two countries.
“During our last trip to Vietnam, both countries’ presidents focused on establishing mutual banking ties to expand and facilitate bilateral relations,” Seif said, noting that well-established banking ties are a prerequisite for strong economic relations, CBI’s official website reported. Seif, who also heads the Money and Credit Council, suggested that Iran and Vietnam could pay for bilateral supplies of products in their national currencies to further deepen banking ties.
“Meetings between representatives of Iran’s commercial banks and the Vietnamese delegation are a good opportunity for both sides to get to know each other, which could prepare the ground for establishing correspondent relations between the two countries’ banks,” he said.
The deputy governor of the State Bank of Vietnam said they are fully aware that both countries’ presidents favor expansion of economic relations, which could create a suitable situation to boost bilateral trade, banking relations and investments.
Hong also urged the continuation of these meetings to transfer related experiences and resolve ambiguities about banking relations and trade.
Don961: IMF Warns Zimbabwe of Cash Crisis
Monday, July 17, 2017
IMF Warns Zimbabwe of Cash Crisis
The International Monetary Fund has blamed Zimbabwe’s unrelenting cash shortages on government’s runaway spending and a comatose economy, AllAfrica reported. IMF’s outgoing mission chief for Zimbabwe Anna Lucia Coronel, speaking after the fund’s recently concluded country consultations, said the Reserve Bank of Zimbabwe’s cash reserves were critically low.
The IMF delegation held consultations with President Robert Mugabe’s chief secretary Misheck Sibanda, Finance and Economic Development minister Patrick Chinamasa and RBZ governor John Mangudya, among other senior government officials. Cash shortages, that began to intensify in 2015, were some of the issues that were discussed at length.
“We understand that the dollar holdings of the economy as a whole are low,” Coronel said. “Dollars come to Zimbabwe as a result of export proceeds, remittances, foreign investment, and all other external inflows, and these inflows have been limited.” Furthermore, dollar reserves of the central bank are scarce, and the central bank can only allocate the amount of cash that it has, and it does so as per a priority list.”
Don961: Indonesia CB Expects 5.1% Growth in Q2
Monday, July 17, 2017
Indonesia CB Expects 5.1% Growth in Q2
Bank Indonesia has expressed its confidence that the country’s economy grew by 5.1% year-on-year in the second quarter of this year as retail sales began to recover.
BI deputy governor Perry Wajiyo said the real sales index in May rose by 4.3% yoy, slightly up from 4.2% yoy in April, according to its retail survey. The real sales index data for June is not yet available, but BI estimates the June figure at a strong 6.7%, Bernama reported.
“Retail sales improved (in the second quarter) thanks to trading activities during Ramadhan as well as the extra income from Idul Fitr bonuses,” Perry said, as quoted by kontan.co.id.
The increase in sales was driven by food and beverage sales, which rose by 9.7% yoy in May and by an estimated 10.9% yoy in June.
The higher retail sales would have helped support second-quarter economic growth, Perry said, adding that he expected GDP growth of 5.1% yoy for the April-June period. “The initial data did not show the possibility of reaching the target, but with the latest indicators, growth in the second quarter can still be achieved,” he said.
He further predicted that the economy throughout this year may expand by 5.2%.
In the 2017 state budget, the government set a 5.1% growth target, but it upgraded its outlook to 5.3% in the revised 2017 budget.