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Friday, August 4, 2017

IQD CHAT, 4 AUGUST

Chat Room News Excerpts & Highlights Early Fri AM 8-04-17

Spectra: I wonder when those iraq people will use those master cards?

BREW: @Spectra AND THE SMART CARDS.

Spectra: does anyone have the info? no i dont think its a RV when theydo! just wondering

BREW: @Spectra THERE IS NO SUCH THING AS AN IN COUNTRY R/V

Spectra: Investor demand was huge -- the deal was seven times oversubscribed. This enabled the lead managers to lower the indicated yield by 25 basis points to a final 6.75 percent. This is lower than what's available from a similar Ukraine bond, though it is well above the recent five-year issue from Greece, which trades at 4.6 percent.
 ...
​The credit ratings are similar. So what's the appeal? Iraq does have the benefit of being able to export oil again. Holders of the 2028 bond comprise all the major emerging market investors, and it is likely they have queued up to take part in this new deal.

An issue of this size will enter the emerging market bond indexes, and with an order book so strong it is likely to perform well. It becomes a self-fulfilling must-buy if investors are not to underperform their peers. Iraq's bond oversubscribed by a factor of 7 But that should not be an investment principle.

 This is another example of the insatiable demand for yield that so worries central banks and market commentators. This would seem to define the very idea of a credit bubble:

A wholly insufficient reward for what must be seen as a considerable risk, as Iraq is still in the midst of a serious civil conflict in the most unstable region in the world. Return of capital seems to have taken a back seat to a decent coupon.

Spectra: @BREW right

Spectra: Bloomberg: Iraq's New Bond Is Swamped With Orders. Greed Beats Fear (8/2/17) Follow Link Below to view the most recent charts and graphs for this story:

https://www.bloomberg.com/gadfly/articles/2017-08-03/iraq-s-new-bond-is-swamped-with-orders-greed-beats-fear

Spectra: greed beats fear!
Spectra: i guess those bonds did well!

chattels: " A wholly insufficient reward for what must be seen as a considerable risk, as Iraq is still in the midst of a serious civil conflict in the most unstable region in the world."

BREW: @Spectra YOU GOT ME ON THAT ONE.

Spectra: @chattels unstable region in the world could also be Venezuela , and Mexico! from what ive read!
Spectra: The world is in turmoil!

BREW: Iraq Sells Bonds. Greed Beats Fear If Argentina can raise money for 100 years, and Greece can print bonds despite still being in a bailout — then why not Iraq?

 The war-torn country has defied conventional logic by issuing a $1 billion five-year security on Wednesday, without the backing of the U.S. The state’s declaration of victory over Islamic State in Mosul, the country’s second-largest city, has clearly provided the impetus to brave issuing debt on its own.

Read more at: https://dinardetectives.com/bloomberg-13/

Spectra: The whole south american region is a murder zone!

BREW: Investor demand was huge — the deal was seven times oversubscribed. This enabled the lead managers to lower the indicated yield by 25 basis points to a final 6.75 percent.

This is lower than what’s available from a similar Ukraine bond, though it is well above the recent five-year issue from Greece, which trades at 4.6 percent. The credit ratings are similar.

Read more at: https://dinardetectives.com/bloomberg-13/

BREW: Iraq floats $1 billion standalone bonds to worldwide investors The cash-strapped Iraqi government has again begun offering unsupported bonds, as it attempts to rebuild a country torn apart by conflicts since 2003 and the massive recent destruction caused by ISIS … Read more at: https://dinardetectives.com/

Spectra: Mexico Is World's Second Most Violent Country, Report Says

http://www.npr.org/sections/thetwo-way/2017/05/10/527794495/mexico-is-called-worlds-second-most-violent-country May 10, 20172:41 PM ET

BREW: IRAQIS PAST WAR TORN, SAD TO SAY.
Spectra: @BREW yes!

Spectra: South America is very dangerous!

Spectra: Mexico Ranked Second Deadliest Country in the World

http://www.breitbart.com/texas/2017/05/10/mexico-ranked-second-deadliest-world/

Spectra: and this is a reality we just dont hear on our news!

Spectra: @chattels did i ever tell you i wanted to be a lawyer when i was a kid!i know you are!
Spectra: @chattels no pun intended !I realized i didnt have what it took though!

Spectra: @chattels but i do love a good debate!
Spectra: @chattels truly you are a great asset here!

Spectra: For me the challenge is presenting the opposite side of the spectrum!Then finding facts! That is what a good debate is all about!

Spectra: in simple terms

Spectra: because i have a simple mind!=lol yes i can laugh at myself! ;Spectra: ..I hope that everyone can it makes life much less stressful!

Sergio: [ Edit ] Meal, Inexpensive Restaurant 9,321.60 IQD Meal for 2 People, Mid-range Restaurant, Three-course 34,956.00 IQD McMeal at McDonalds (or Equivalent Combo Meal) 9,321.60 IQD Domestic Beer (1 pint draught) 2,010.79 IQD Imported Beer (11.2 oz small bottle) 2,913.00 IQD Cappuccino (regular) 2,563.94 IQD Coke/Pepsi (11.2 oz small bottle)

Sergio: Restaurants [ Edit ] Meal, Inexpensive Restaurant 8.00 $ Meal for 2 People, Mid-range Restaurant, Three-course 30.00 $ McMeal at McDonalds (or Equivalent Combo Meal) 8.00 $ Domestic Beer (1 pint draught) 1.73 $ Imported Beer (11.2 oz small bottle) 2.50 $ Cappuccino (regular) 2.20 $ Coke/Pepsi (11.2 oz small bottle)

Sergio: This is what is the cost of living in iraq both in usd and iqd

dave: ....just drop the zeros already!
​Tebow: if they pay in dinars they don't get all their change. So goods are really more expensive than stated

Sergio: Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 17,478,000.00 IQD Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car)

Tebow: coke/Pepsi really cost 2600 dinars

Sergio: Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 15,000.00 $ Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car)

dave: chat earlier was buying a BMW 740......in Iraq 4 like 44000 Dinar........

Sergio: This comes from the cost of living in Iraq July 2017

abangjadul: Iraq, August 3, 2017 ...The International Monetary Fund (IMF) has predicted average growth of 3.1 percent annually in Iraq’s non-oil real GDP until the end of 2022. This compares to an average fall of 7.2 percent per annum from 2014 to 2016, following the insurgency by the Islamic State group (IS, ISIS, ISIL, Daesh).

 It also forecasts a steady fall in government debt as a percentage of GDP, and an improving trade balance, ...........but makes no prediction for the exchange rate of the Iraqi dinar to the US dollar. businessnews

http://iraqdailyjournal.com/story-z15698429

Cree: Was just watching the evening news - gosh so depressing.....

chattels: DARBANDIKHAN, Kurdistan Region – A senior Kurdish official has hinted that the Kurdistan Region is prepared to accept “an alternative” to the independence referendum if they are given regional and international “guarantees” that makes sure, beyond any doubt, that the Kurds will have their rights protected through a new arrangement.

Mala Bakhtiar, a senior member of the ruling Patriotic Union of Kurdistan (PUK), whose party is instrumental in the bid to hold referendum in less than two months, said that a “confederation” can be a viable solution as a new arrangement between Erbil and Baghdad.

http://www.rudaw.net/english/kurdistan/030820175

chattels: I have discussed the possibility of a confederation over the years.

xyz: Abadi pointed out the importance of focusing on providing services to citizens and moving the economy through combating corruption, encouraging investment and raising obstacles, and the importance of regional and international openness to Iraq, stressing the need not to distract efforts by side differences and focus on what serves the stability, unity and prosperity of Iraq.

http://translate.google.com/translate?u=http://www.alliraqnews.com/modules/news/article.php%3Fstoryid%3D64493

chattels: The focus of media has now shifted from Mosul to Tal Afar which the largest ISIS stronghold remaining in northwestern Iraq. The operation to retake the city is possibly problematic with some regional countries against the participation Shiite forces seen to be affiliated with Iran. http://www.rudaw.net/english/analysis/04082017

chattels: According to the Hashd al-Shaabi forces, around 2,000 ISIS militants are in Tal Afar.

chattels: Although it has been reported that only ISIS militants and their families remain in Tal Afar, officials have said kidnapped Yezidis are in the city.

chattels: “We have collected information on the abducted Yazidis whom we will certainly be liberating if ISIS doesn’t kill them,” Ahmed Asadi, spokesperson for the Hashd al-Shaabi forces, said. The town of Tal Afar is 65 kilometers west of Mosul.

Its population is 250,000, most of whom are Turkmen. Tal Afar is strategic historically, politically, historically as it connects Mosul to Syria. ISIS attacked Tal Afar two weeks after capturing Mosul in 2014

xyz: Minor exchange rate movement EXCEPT USD. Compare Today https://cbi.iq/ vs July:

https://web.archive.org/web/20170711152008/https://cbi.iq/
chattels: Kurdish delegation to visit Baghdad next week on the referendum

http://www.alliraqnews.com/modules/news/article.php?storyid=64491

chattels: Thursday, August 3, 2017 Casualties and security incidents reached the lowest monthly totals of 2017 in July due to the end of the Mosul campaign. Before, the battle for the city was driving violence across the country. Now they will be heading downwards until the next offensive begins.

http://musingsoniraq.blogspot.com/2017/08/1459-killed-636-wounded-in-iraq-july.html

chattels: IS still holds western Anbar along the Syrian border, but violence there has been relatively low for the last year.

chattels: Baghdad continued to see some of the lowest violence since 2003-2004.

chattels: Diyala has witnessed the greatest increase in insurgent activity in recent months.

chattels: Salahaddin is the other province where IS is re-grouping, but security remains stable.

chattels: The liberation of Mosul: Victory at a price Special report on how the Iraqi city may now be free, but that doesn't mean life has returned to normal for its residents — or for the men who fought to reclaim it from ISIL : Florian Neuhof August 2, 2017

https://www.thenational.ae/world/mena/the-liberation-of-mosul-victory-at-a-price-1.616172

Doug_W: what city its all rubble no

chattels: The possible devastating outcome of a Kurdish referendum ZAID AL-ALI and LUAY AL-KHATEEB 4 August 2017

https://www.opendemocracy.net/north-africa-west-asia/zaid-al-ali-luay-al-khateeb/kurdish-referendum-iraq-kirkuk-kurdistan

chattels: As is often the case in Iraq, this particular crisis could easily have been avoided if only the country’s political class had been capable of being slightly more mature. Instead, both sides suffer from a tendency to overreach and unhealthily rely on external advisors.

Doug_W: sad but true "C"

chattels: The foregoing is an excellent read.

Whitelions: Diyala implements the first privatization project for electricity in Beni Saad http://economy-news.net/vrsfls/cntnt/pctr/1575.jpg The head of the local council of Bani Saad in the province of Diyala Rasul al-Husseini, on Friday, began the implementation of the privatization project of electricity distribution in the area, stressing that Bani Saad is the first areas of the province in the implementation and implementation of the project .

Al-Husseini said in a statement received by the "Economy News" that "electricity in coordination with the investor began implementing the privatization project of electricity distribution sector, in the area of ​​Bani Saad south-west of the city of Baquba, at the desire of the local government of the area, to ensure the stability of the electrical system and increase the hours of processing and distribution of energy Between regions fairly and without interruption ".

 He added that "the investor began to connect a mobile power station in the area to provide energy after the completion of other procedures necessary to complete the project, in the coming days,"

 pointing out that "the implementation of the project will have positive effects in the region in general, As well as the appropriate collection rates that are appropriate to all classes of society of the rich and poor, according to rationalization and consumption by citizens .

He stressed that "the Bani Saad area is the first areas of Diyala province, which implemented "Shell" Iran recognizes the results of studies of oil fields shared with Iraqthe project of privatization of energy distribution," noting that "the project will cover the whole area and the surrounding villages, estimated at an area of ​​166 thousand acres inhabited by about 186 thousand citizens .

Whitelions: Luxembourg offers 500,000 euros for demining from Mosul http://economy-news.net/vrsfls/cntnt/pctr/1571.jpg Luxembourg provided € 500,000 in financial aid to the United Nations Mine Action Service (UNMAS) to clear mines and explosives and to support stability in the liberated city of Mosul.

 "In the west of Mosul, where there are 54 residential districts, 15 neighborhoods have been severely damaged and 23 neighborhoods have been moderately damaged after the fighting," said a UN statement read by the Economist News.

In Mosul, which affects the return of more than half a million civilians. " "UNMAS teams carried out preliminary assessment missions in western Mosul and confirmed that there was serious damage to the infrastructure of water, power plants and sewage systems," he said, adding that western Mosul was one of the biggest challenges to restoring stability and the most complex United Nations ".

 "Identifying and removing the dangers of explosives is the first step before undertaking stabilization or humanitarian interventions, a crucial enabling factor for any activities to restore stability in Iraq," the statement said. 
Whitelions: A partnership agreement between Baghdad and the United Nations to promote community reconciliation

http://www.aljournal.com/wp-content/uploads/2016/11/%D9%85%D8%AE%D9%8A%D9%85%D8%A7%D8%AA-%D8%A7%D9%84%D9%86%D8%A7%D8%B2%D8%AD%D9%8A%D9%86-1-310x165.jpg

The United Nations Development Program (UNDP) and the Iraq National Reconciliation and Implementation Committee (NRC) of the Prime Minister's Office in Baghdad signed a partnership agreement to promote civil and community reconciliation in Iraq.

 "After a humiliating defeat, national reconciliation, particularly community reconciliation, has become the top priority of the government's agenda," said Mohammed Salman al-Saadi, head of the National Reconciliation Implementation and Implementation Committee.

This partnership with the United Nations Development Program (UNDP) will make a real difference in the most important area, the lives of ordinary Iraqis across the country.

 " For her part, said the representative of the United Nations Development Program in Iraq, Liz Grande: "Reconciliation is one of the top priorities in Iraq.

"UNDP is making every effort to support the Iraqi government and people as they work together to rebuild their communities after the horrific experience of conflict." "UNDP is helping to rebuild cities and liberated areas.

This new partnership aims to focus on reconciliation to ensure the continuation of peace. " SOURCE

Whitelions: SHARP RECOVERY IN NON-OIL GDP PREDICTED The International Monetary Fund (IMF) has predicted average growth of 3.1 percent annually in Iraq’s non-oil real GDP until the end of 2022.

This compares to an average fall of 7.2 percent per annum from 2014 to 2016, following the insurgency by the Islamic State group (IS, ISIS, ISIL, Daesh).

 It also forecasts a steady fall in government debt as a percentage of GDP, and an improving trade balance, but makes no prediction for the exchange rate of the Iraqi dinar to the US dollar. businessnews 

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