Sunday, November 15, 2015



  • DAVOS/SWITZERLAND, 25JAN13 - Christine Lagarde, Managing Director, International Monetary Fund (IMF), Washington DC; World Economic Forum Foundation Board Member reflects during the session 'Women in Economic Decision-making' at the Annual Meeting 2013 of the World Economic Forum in Davos, Switzerland, January 25, 2013. Copyright by World Economic Forum swiss-image.ch/Photo Michael Wuertenberg

    IMF Confirms RMB Meets Criteria for SDR Inclusion

    Christine Lagarde of the International Monetary Fund has just put out a statement regarding the inclusion of the Chinese renminbi in the Special Drawing Right basket.  Thanks to reader “cadwaladr” for catching this so fast and bringing it to our attention.  This one statement validates almost two years of the POM analysis. When so many said it would never happen, and when so many said China would never have their currency join the SDR, this one moment in time, and the followup announcement on November 30th, will change the course of international reserve accumulation and separate the wheat from the chaff.  Whether its a straight SDR inclusion, or an SDR2 type scenario, the monetary world is on the verge of a fundamental change.  – JC
    From the statement:
    “The staff of the IMF has today issued a paper to the Executive Board on the quinquennial review of the SDR. A key focus of the Board review is whether the Chinese renminbi (RMB), which continues to meet the export criterion for inclusion in the SDR basket, also meets the other existing criterion, that the currency be “freely usable”, which is defined as being “widely used” for international transactions and “widely traded” in the principal foreign exchange markets.
    “In the paper, IMF staff assesses that the RMB meets the requirements to be a “freely usable” currency and, accordingly, the staff proposes that the Executive Board determine the RMB to be freely usable and include it in the SDR basket as a fifth currency, along with the British pound, euro, Japanese yen, and the U.S. dollar. The staff also finds that the Chinese authorities have addressed all remaining operational issues identified in an initial staff analysis submitted to the Executive Board in July.
    “I support the staff’s findings. The decision, of course, on whether the RMB should be included in the SDR basket rests with the IMF’s Executive Board. I will chair a meeting of the Board to consider the issue on November 30.”
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    3 thoughts on “IMF Confirms RMB Meets Criteria for SDR Inclusion”


    Congratulations JC and PoM! The fruit tastes so much better when it’s allowed to ripen on the branch doesn’t it? JC you must really be emotionally torn with the layoffs and suffering industry around you and now this excitement with the IMF announcement.
    Man so much so fast its hard to keep up. Where we watching for bond sales to create liquidity? If so this may be interesting.
    “Announcement of the Auction for Enhanced-liquidity
    [Provisional Translation]
    November 13, 2015
    Ministry of Finance
    1. Auction Date November 20, 2015
    2. Issue Date November 25, 2015
    3. Eligible Issues
    Issue No.312-339 of outstanding 10-year JGBs
    Issue No.48-127 of outstanding 20-year JGBs
    Issue No.1-4 of outstanding 30-year JGBs
    4. Offering Amount About 500 billion yen”
    • Sunday November 15, 2015 4:24 PM
      UPDATED: Sunday November 15, 2015 5:10 PM
      A French defense official says the country has launched a "massive" series of airstrikes on the Islamic State group's de facto capital in Syria, destroying a jihadi training camp and a munitions dump.

      The ministry spokesman said Sunday that the strikes on Raqqa involved 12 aircrafts, including 10 fighter jets, and 20 bombs were dropped.

      The spokesman spoke on condition of anonymity because he wasn't authorized to speak publicly.

      ©2015 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
        Sometimes, you have to go back to go forward...
        This BLAST from the PAST simply tells us what to expect!
        So, let's get it on......
        From this, we can deduce a lot more...
        The lower Denoms,LDs, are coming...and they just released 50,000...
        The LDs are made and store for the right time to go green...
        They will be accepted world wide - International Status!!!  Article 8!
        2016 budget is based on the new dinars...
        RV will happen before the Budget clicks...that will be so cool!
        New rate to be higher than $3.22 of 1978...DEAL!!!
        The media has a role to play in getting the masses informed...
        September is not an option for us...Nov & Dec seem probable...
        There is a fantastic GOI + CBI RELATIONSHIP needed for this to fly.
        Dr. Shabibi is going to call the shot, technically...
        We should have it good if EVERYTHING runs smoothly...AMEN!
        Don't mess it up again maaaaaaaaaaaaaleeeeekiiiiiiiiiiiii & his freaks.
        •  An official source: the government adopts a new strategy reforms


          A government official revealed, on Sunday, for the adoption of the government reform strategy that includes taking inter orders and decisions to address the imbalance in the structure of the state's political, economic, financial, administrative and service aspects and the fight against corruption.  Quoted the official newspaper "Al-Sabah" the official as saying, "The government is moving to adopt a reform strategy that includes take inter orders and decisions to address the imbalance in the structure of the state of political, economic, financial and administrative, service and anti-corruption aspects, "noting that" these steps are complete approach to comprehensive reform adopted by the State to achieve the stability and development of reconstruction.  "The official added," The new strategy aims to achieve a comprehensive reform and radical to address the imbalance in the structure of the state in economic, security and political aspects, "adding it was" the completion of the steps effectively began two months ago.  "He said," The executive branch proceeded to take actions and decisions to support the private sector and moving the economy and reforms, including facilitating the entry of oil companies by reducing and bureaucratic obstacles and make it less complex, particularly in relation to the introduction of its material, in parallel with announcing the resolutions issued by the government to facilitate the work of the oil companies and the rehabilitation of state-owned enterprises to overcome the current financial crisis.

          "He noted" the existence of mobility within the corridors of the Council of Ministers, in order to involve the international community to support the Iraq in its war against terrorism, saying it was an important step that reflects the extent of Iraq's interaction with countries of the region and the world, and his support in the war that led against Daash, "stressing" the government continues negotiations represented by the Ministry of Finance, with the Bank and the International Monetary Fund in order to provide soft loans to Iraq, sniffing Monetary concerns the current crisis with the continued pumping of oil exports, and diversify the resources that bring next year's budget estimates of targets. "

          • China secures Zimbabwean resources.


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