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Saturday, August 12, 2017

DINAR IRAQ & DONG VIETNAM UPDATE, 12 AUGUST

Article: “The Iraqi Trade Bank: The global market has begun to trust the future of Iraq’s economy”
Take a look at this part: “a number of comprehensive offers in London, Boston and New York and received a positive attention by investors from global investment funds, and proceeds of the IPO value of what was on the market more than seven times the amount required.”
This is a big deal folks. Investor confidence and then some! This strong investor response will result in more investment, that is guaranteed! The rating holding is good too.
As Iraq prepares to respond economically to the lower oil prices, selling their debt like this makes sense and again, the investor appetite is awesome to see!
This should move the needle on the stability front and as security improves, the next move should be to reengage the project to remove the zeros and reflect a more realistic value to the dinar.
Investor protections are in place (kyc, balance protection, generous trade windows, etc) and this powerful confidence from investors, combined with asset management from huge international finance banks sets the stage as perfectly as we could have hoped for.****
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The video clip brought a lot of discussion of PM Abadi having a press conference and a cavalier type statement, to my way of thinking, that Iraq had exited Chapter 7. Some will debate that’s not new news and some say they are still in Chapter 7. That puts the debate to an end. He’s made the proclamation.
Also, info still inconclusive on the IMF. Cannot give it 100% yet. That is IMF making reference to Iraq being Article 8 compliant. That’s not the same as proclaiming them Article 8, making it in effect. Could make for discussion, “are they or are they not.”
A lot of you knew before graduation day you were going to graduate, grades looked good, etc., but you had to wait until that exact day. You can view this in the same manner, that if you have statements they are compliant, not the true realization. When we look at the report it predates back to July 25th and prior dates the information came out on.
Also, information out that Kuwait received their last payment. BIG – to satisfy the IMF requirements along with removing multiple currencies in the country. Also, no auction reports for today. If everything goes according to what I expect don’t be surprised if no auction reports on Monday. That to could be a signal of Article 8 compliance.
Kurds have not let go of Sept election yet until the Article 140 is resolved. Hearing it’s resolved verbally. When they are at peace that Article 140 is resolved they will stand down on the election Sept 25th. It’s a repercussion strategy. If they don’t get the Article 140 they will do this and this. I don’t think we have anything to be worried about. Like I said it’s a repercussion strategy and I don’t think that’s going to happen.
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