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Thursday, December 31, 2015

DINAR IRAQ & DONG VIETNAM UPDATE, 31 DEC

ANNOUNCEMENT FROM CBI: “To / all licensed banks and money transfer companies approved all and the financial investment companies approved all and brokering the sale and purchase of foreign currencies approved all companies (foreign exchange rate) 12/28/2015” IMO IT MEANS THAT THE REGULATIONS HAVE BEEN ACTIVATED AND ONLY MONEY EXCHANGERS AND BANKS CAN EXCHANGE CURRENCY — THE NOTICE IS TO ALL THAT HAVE BEEN LICENSED. THE MARKET IS CLOSED RIGHT NOW THERE AND IT OBVIOUSLY IS VERY EXCITING TO SEE THIS FROM CBI.
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Special – scales News
The parliament’s finance committee, Wednesday reveal the activation of customs tariffs as of 1/1 2016 in all provinces and border crossings in the Kurdistan region, while the government called for a non-recourse to the salaries of its staff during the passage of the country’s financial crisis.
Parliament / scales News / “touched on the government private employees’ salaries as much as possible under the circumstances plaguing the country.”
Adding, “activating the customs tariff as of 1/1 in all provinces and border crossings in the Kurdistan region,” calling on the government to “obtain the non-oil revenues in addition to the necessity of obtaining all court fines and benefits obtained from mobile phone networks and the Internet.”
Calling for “holding negligent and corrupt leading to the advancement of the financial reality of Iraq,” stressing the need to “stay away from touching the employees’ salaries and not to be manipulated.”
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The Iraqi Finance Minister Hoshyar Zebari issued a statement that Iraq has restored a plan for selling bonds of 2 billion U.S dollars in the year 2016. It is considered most critical time because Iraqi government is currently facing more dangerous situation due to terrorist activities of Daash organization. Zebari further added in his press interview that Iraq’s 2016 federal budget allows the Iraqi government to sell 2 billion U.S dollars bonds due to the lack of availability of financing sources, which postponed the selling plan of bonds. It is considered the first major plan by the Iraqi government for international markets in ten years.
Zebari also added that a number of investors demanded 11 percent profit for these bonds which is considered too high. He said that Iraqi government is hoping to settle a feasible deal in order to issue the bonds in the international market in the year 2016.
The Iraqi armed forces are continuously achieving handsome victories against Daash organization and International Monetary Fund and the World Bank is supporting financially the Iraqi government in this regard. It would also enhance the confidence of international institutions in the country for the issuance of Iraqi self-governing bonds. It is noteworthy that Iraq sold more than 2.7 billion dollars in Iraqi bonds in 2006.

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