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Thursday, May 10, 2018

IRAQI DINAR & DONG VIETNAM UPDATE, 10 MAY

Dollars are being sucked up right now in Iran. As well, the Rial has dropped to 67,000 to one US dollar. We’re going to have to keep a close watch on the CBI over the next few weeks Iran has a tendency to suck dollars out of Iraq when it needs them and this could affect the spread. Course if this happens is bad for the CBI cuz it’ll affect its reserves as well it’ll knock the spread out of whack with the IMF forcing them to start over again on the 3 month compliance. Hopefully Iran’s weak currency and lack of dollars does not affect the CBI. They must be pretty confident since they are liberalizing even more. Remember the IMF and US Treasury helped them figure out how to get the spread within compliance last fall.
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Article: “Abadi: The corrupt have become restless” Quote: “the corrupt were pressing for the collapse of the dinar prices and work to raise prices, but failed to do so,” asserting his quest for “a new renaissance of Iraq to restore its past and even better.” I have to think – with the context of his commentary in this article focused on the value of the Dinar, Abadi has something planned for after the elections. I’m not exactly sure what he’s talking about here… but it sounds good to me!
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Iraq is applying for membership of the European Bank
09-05-2018 02:01 PM

Iraq is applying for membership of the European BankIraq has submitted a formal request to become a member of the European Bank for Reconstruction and Development to receive support from it, the Reuters news agency reported on Wednesday.
The agency said that the Iraqi authorities have filed a formal request in a recent letter and that it is scheduled to discuss the request for membership in the meeting of the 66 governments to contribute to the bank in Jordan today.
“We can confirm that we received the application for membership, so that Iraq is the state of our operations, and we will ask this question to the shareholders to know their point of view and take a decision in this regard,” said the bank spokesman.
“If Iraq succeeds, the number of countries in which the bank operates will be 30,” he said.
The bank was set up in 1991 to help the former Soviet Union move towards capitalism and the free market. The MLB now operates from Morocco in North Africa through central and south-eastern Europe to Mongolia in East Asia.

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