KTFA:
Dnari131: Issuance of yuan-denominated sovereign bond comes as Hungary seeks to expand trade with China
By CAROL CHAN April 15, 2016 3:17 a.m. ET
Hungary has become the first Eastern European country to issue a yuan-denominated sovereign bond, in a deal that shows how currying favor with China may be a more important driver for the market than funding.
Hungary Issues Sovereign Bonds Denominated In Yuan
Mountainman: Hey Bro......Do You Suppose those "SOVEREIGN BONDS".....Are BACKED by GOLD/ASSETS/A New Value.....to be Exposed in {DUE TIME}....???......We All Know Things are DONE (Behind) The CURTAINS of OZ.....Until [TOTO]=Latin for Everything/All is Taken or Brought forward for ALL to SEE.....
Usually Countries are DOING their Business W/Each Other {Before}.....the People SEE "WHAT" was Already DONE/AGREED Upon.....{HISTORY} has Bore this (REALITY) Out.....IMO
BTW.....We can't Leave Out The Shanghai Gold Adjustment Coming in the COMING WEEK!!!!!!!!......Hmmm
Dnari131: TOTO EH!? LOL...yea the sovereigns usually are the 1st to know and get paid right?
....
Dnari131: Issuance of yuan-denominated sovereign bond comes as Hungary seeks to expand trade with China
By CAROL CHAN April 15, 2016 3:17 a.m. ET
Hungary has become the first Eastern European country to issue a yuan-denominated sovereign bond, in a deal that shows how currying favor with China may be a more important driver for the market than funding.
Hungary Issues Sovereign Bonds Denominated In Yuan
Mountainman: Hey Bro......Do You Suppose those "SOVEREIGN BONDS".....Are BACKED by GOLD/ASSETS/A New Value.....to be Exposed in {DUE TIME}....???......We All Know Things are DONE (Behind) The CURTAINS of OZ.....Until [TOTO]=Latin for Everything/All is Taken or Brought forward for ALL to SEE.....
Usually Countries are DOING their Business W/Each Other {Before}.....the People SEE "WHAT" was Already DONE/AGREED Upon.....{HISTORY} has Bore this (REALITY) Out.....IMO
BTW.....We can't Leave Out The Shanghai Gold Adjustment Coming in the COMING WEEK!!!!!!!!......Hmmm
Dnari131: TOTO EH!? LOL...yea the sovereigns usually are the 1st to know and get paid right?
....
BACKDOC: ONE WOULD CERTAINLY EXPECT ARTICLE 8 AND A RATE BY THE END OF THE MONTH IF THESE LOANS ARE TO BE ACTIVE!
DOC……..JUST A CRAZY OPINION NO DATE OR RATE!
Walkingstick: Completion of registration on central bank loans form and launch a presentation by the end of April
17.4.2016
Supreme Committee for the loans , the Central Bank of Iraq, announced the completion of the electronic form to register the amount of five trillion dinars loans, noting that the launch of the presentation will be the end of the month of April.
A statement of the Ministry of Construction and Housing, Municipalities and Public Works, the agency received all of Iraq [where], a copy of it from Undersecretary brocade Ibrahim thorns and Chairman of the Supreme Committee for the loans the bank, announcing " the completion of the website to register on the Iraqi Central Bank loans [5 trillion Iraqi dinars] sectors industrial, agricultural, which was prepared in coordination with theOffice of the Prime Minister , "noting that he" will be launched Date of loan end of the month after the completion of the final required technical procedures and conduct virtual experimentation of the site where will cover all provinces of loans after they have been taking into account the population ratio and the degree of poverty andagricultural land and the rural population as criteria for each province. "
He explained that" the loans will be given to projects agricultural and industrial sectors as ranked [small businesses, medium, large, and the strategy], "he said . " this initiative comes as part of the government tosupport the Iraqi private sector and will contribute to these loans to improve the economic situation in thecountry and the revitalization of industries movement of manufacturing industries adopted by the private sector and aims to legalize the foreign currency supply and reduce the demand for and the reduction of imports and encourage exports through the revitalization of local industries and the opening of new production lines through the use of modern technologies in manufacturing and equipment manufacturing industries that rely on local raw materials .
thorns and pointed out that he" will attract and operation of a large number of local labor in these projects , which will be played each other within the industrial cities , "noting that" the Commission has prepared a roadmap fordevelopment projects allocated to the provinces based on the national development plan, plans and sectoral strategies approved taking into consideration the simplification procedures in obtaining loans and required approvals from the relevant authorities. "
He continued , " will also be assessing the economic feasibility submitted studies for projects by specialized technical teams depending on the nature of the loan and also will continue a good implementation of these projects through field teams will form for this purpose. "
the economic Adviser Prime Minister appearance of Mohammed Saleh announced in the month of September last, all wait in the disbursement of the five Iraqi Central Bank loans trillion dinars for banks [agricultural and industrial, and real estate.
he said that the money is there, but we want to actually go right for the purposes of economic in agriculture, industry and housing sectors and this is what made us stand back out a bit but it remains to launch important and we want it accurately.
the crisis cell approved in August 24 last program of lending funded by the Iraqi Central Bank amounting to five trillion dinars for the sectors of industry, agriculture and housing, as instructed Prime Minister Haider al - Abadi to proceed immediately procedures necessary.
http://ift.tt/1VuJvdG
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Mountainman: Dang WS.........This ARTICLE is HUGE..........But DON'T {Miss} the BIGGER PICTURE below as Highlighted regarding IRAN too......
As FRANK Stated Yesterday....I believe as He Commented on My IMF Post....."The THREE become ONE"......Well here it is and I say......WOW......turn it Upside down......it says.....MOM......LOL.......Ok....Dumb Joke.....Get him Outta Here.........LOL......and Now we SEE WHY IRAN is Trying to Behave......
SHIITES Stick Together BROTHERS....We Be GOOD.....High 5.......
Blessings,Mountainman (8)=New Beginnings
Walkingstick: A source familiar: America waved the use of force to protect the red lines in Iraq, including the three presidencies
17-04-2016
Said early on Sunday a source, that Washington waved to use force to protect the red lines in Iraq , including the three presidencies.
The source revealed in a press statement, that " the United States are conducted by Joseph Votal, Central Command Alomirkah, important and concise message to Iraqi political leaders , that it will by its forces stationed near Iraq to protect the red lines in Alarac, including three presidencies. "
the source , who asked not to be named, said : ' the US position was clear since the visit of John Kerry Minister Alforeigh, which stressed the US constants political and Alastratejah, , where he was the presidential envoy to the same Macgork Algrd, then declared clearly in preventive Alaracaan, with the leaders , especially President Fouad Masom, and president of a coalition united Osama Alngeevi, stressing that what happened deduced from the parliament speaker Salim al - Jubouri is not indicating Hraei', in the same context that 'what has been shown Kerry Macgork is the political dimension of Msolh, but when Washington felt that there was harassment Balriasat Althelat, message Votal and Adhh, came and is a red line that can not be waived.'
and on the Iranian position on this Alttorat, insider said that 'Iranians and after the nuclear deal are no longer able to oppose the Americans in such matters; because Iran has roughly the same Althoapt, as long as the prime minister remains stake Heah, the eye and the interest of Iran is now focused on understanding with the United States on Syria as a priority first. "
- See more at: http://ift.tt/1VuJtSZ
US message to Iraqi politicians: three presidencies red line
BAGHDAD - Iraq Press - April 17 / April: detecting Iraqi source, on Sunday, that "the United States are conducted by Joseph Votal, the US Central Command, an important and concise message to Iraqi political leaders, that they will take over by troops stationed near Iraq to protect the red lines in Iraq, including the three presidencies. "
The source, who is familiar with according to Asharq al-Awsat that "the US position was clear since the visit of John Kerry's foreign minister, who stressed that the US political and strategic constants, where presidential envoy Macgork came for the same purpose, and then declared clearly in preventive with Iraqi leaders, especially the president Fouad infallible, and president of a coalition united Osama Najafi, stressing that what happened deduced from the parliament speaker Salim al-Jubouri, is illegal, "noting that in the same context that" what has been shown Kerry Macgork is the political dimension of the issue, but when Washington felt that there is harassment of the three presidencies, came Votal message is clear: as a red line that can not be waived. "
And on Iran's attitude towards these developments, the insider said that "the Iranians after the nuclear deal are no longer able to oppose the Americans in such matters; because Iran has roughly the same parameters, as long as the prime minister remains Shiites share, and the eye and interest of Iran now the position of understanding with the United States on Syria as a first priority. "
She had students in some quarters in recent days with the crisis cabinet reshuffle, change of the three presidencies of the Republic, ministers and MPs. Q ended
http://www.iraqpressagency.com.....38;lang=ar
Middle East: Washington sends a new message to the Iraqis that: our troops will protect the "three presidencies"
April 17, 2016
Amid an escalation of the political scene in Iraq, the transfer of US Central Command, General Joseph Votal, an important message to the Iraqi political leaders informing them that the US troops stationed near Iraq will protect the red lines in Iraq, including the three presidencies.
According to Iraqi political sources, spoke to the newspaper, the Middle East, the US position was clear since the visit of Foreign Minister John Kerry, who confirmed the American political and strategic constants, and then came the presidential envoy Brett Makovrk for the same purpose, and then announcing it clearly in his meeting with Iraqi leaders.
http://ift.tt/1VuJvtX
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Mountainman: I'm Not DOC and Won't Infer that He Agrees w/My Position on Zimbabwe......But I can tell you this and {HISTORY} Supports the Reality,which is.......WHEREVER In the Last 200+ Years of Banking......The (FAMILIES )Who are The BANKING DYNASTIES still TODAY have [USED] Both Sides of The GOOD,BAD and the UGLY in Giving {LOANS} to Countries,Kings,Etc.....
So....WHERE there is A {LOAN} .......There is A {LEASH} Attached
w/"INTEREST"=MONETARILY and PERSONALLY=.....In Other WORDS......It Benefits (THEM) Both Ways......
On a Side Note.....ZIMBABWE has Tremendous Wealth=they have the LARGEST PLATINUM RESERVES in the World,Diamond Mines,Gold, and More and of Course a said "NEED" for Infrastructure Development.....No Wonder OZ is so INTERESTED in WHAT Creates Interest......Right???.....LOL.....
BTW....We also Know CHINA is Heavily Invested there as Well and has Paid for there Debt......Note Article Link=
http://ift.tt/1QFAkVR
Positioning the Yuan is A GLOBAL REALITY.....as I stated on A Previous Article.......THINGS are DONE and Carried Out "BEHIND CLOSED DOORS"......Until "THEY" want the People/Masses to See/Know......and Even then {WHAT}
they Choose to Tell Us is Not (ALWAYS) the TRUTH........But for those Who SEEK to Find It......Will FIND IT.....IMO
Will their Currency Come Back to Life in {DUE TIME}......We shall See In {DUE TIME}.....Perhaps as their Economy and TRADE is Renovated and Rebuilt.....W/Said LOANS....and "TRADE DEALS" in The NEW REALITY.......JUNE sure is a Busy Month......Hmmm
Blessings,Mountainman (8)=New Beginnings.......EVERYWHERE.....
Fight over Zimbabwe economic policy favours finance minister
BY BRIAN LATHAM AND MIKE COHEN, APRIL 16 2016, 14:09
ZIMBABWEAN Finance Minister Patrick Chinamasa is gaining the upper hand in a power struggle in the ruling party over his efforts to revive an ailing economy and tap financing from the International Monetary Fund.
In recent weeks, Mr Chinamasa has said the state may compensate white farmers whose land was confiscated and that the southern African nation will pay $1.8 billion of about $10 billion it owes to foreign lenders by June 30.President Robert Mugabe issued a statement on April 12 softening regulations forcing foreign companies to ensure black residents own at least 51% of their businesses.
"What was presented in Mr Mugabe’s statement is actually a policy shift of seismic proportions," said Alex Magaisa, a Zimbabwean constitutional lawyer at the University of Kent in the UK "In many ways the statement represents a significant retreat by the Zimbabwe government on a flagship indigenisation policy."
National Disaster
The changes highlight the government’s drive to resuscitate an economy that’s half the size it was 15 years ago, with about 90% of the population out of formal employment. Mr Mugabe declared a state of national disaster last month due to the worst drought in almost two decades that’s killed cattle, withered crops and left millions of people needing food aid. The government’s also struggling to meet monthly wage bills that consume over 80% of revenue.
Zimbabwe hasn’t been able to access finance to build infrastructure and create jobs since it fell into default to the IMF in 1999. The US and European Union nations imposed sanctions on Mr Mugabe and senior members of the ruling Zimbabwe African National Union-Patriotic Front, citing allegations of human-rights abuses and electoral fraud.
"ZANU-PF’s election campaign slogan three years ago was ‘indigenize, empower, develop, create employment’," Mr Magaisa said. "It has not created employment, there has been no empowerment, there has been no development and now indigenisation has just been abandoned in all but name and slogans."
The economy is in such bad shape it’s forced the government to re-think its management and start re-engaging with international institutions that can help support a recovery, IMF mission chief to the country, Domenico Fanizza, said in an interview on Friday. The government is making some progress in committing to reforms, he said.
"The shift is happening. They realized there was no alternative but radically transforming the economic structure of the country," Mr Fanizza said in Washington. "It’s clear the policies they’ve been following for the past 15 years have come to nothing."
Mr Fanizza said the economy is beset by low demand, lack of liquidity and a shrinking industrial base
.
Policy Resistance
Resistance to the policy shift has centered around a faction in ZANU-PF known as the Generation-40, which has coalesced around Mr Mugabe’s wife Grace as a potential eventual successor to the 92-year-old president.
Criticism of Mr Chinamasa’s policy direction has been led by Indigenization Minister Patrick Zhuwao, who’s Mr Mugabe’s nephew.
When Mr Chinamasa and central bank Governor John Mangudya assured banks that they were exempt from rules requiring all businesses to be at least 51% locally owned, Mr Zhuwao accused them in a statement of disregarding the law and a decision by the cabinet. Mr Chinamasa and Mr Zhuwao declined to comment about any differences within the government or the ruling party.
"My appeal and plea to you is to urgently engage the financial services sector so that all affected institutions make a commitment to developing indigenisation implementation plans and indicate such commitment to comply by the deadline of March 31 2016," Mr Zhuwao said in a statement.
Ownership Rules
About two weeks after the deadline passed, Mr Mugabe issued the statement saying that banks wouldn’t be forced into unwanted partnerships. Standard Bank Group, Barclays and Standard Chartered have units in Zimbabwe.
Mr Mugabe also proposed watering down ownership rules for mining companies that have been in place since 2010. While new miners will have to offer a 51% stake to black Zimbabweans, existing operators will be able to retain ownership if they retain or spend 75% of their earnings within the country including expenditure on tax and wages. Foreign miners such as Zimplats, Anglo American Platinum and Aquarius Platinum met their empowerment obligations as early as 2014.
"It’s a humiliating moment for Mr Zhuwao. The indigenisation minister has now been reduced to the role of coordinator, after adopting a belligerent tone in recent months," Mr Magaisa said. "It’s a victory for Mr Chinamasa in that ugly fight with Mr Zhuwao."
Bloomberg
http://ift.tt/1qyyScB
BY BRIAN LATHAM AND MIKE COHEN, APRIL 16 2016, 14:09
ZIMBABWEAN Finance Minister Patrick Chinamasa is gaining the upper hand in a power struggle in the ruling party over his efforts to revive an ailing economy and tap financing from the International Monetary Fund.
In recent weeks, Mr Chinamasa has said the state may compensate white farmers whose land was confiscated and that the southern African nation will pay $1.8 billion of about $10 billion it owes to foreign lenders by June 30.President Robert Mugabe issued a statement on April 12 softening regulations forcing foreign companies to ensure black residents own at least 51% of their businesses.
"What was presented in Mr Mugabe’s statement is actually a policy shift of seismic proportions," said Alex Magaisa, a Zimbabwean constitutional lawyer at the University of Kent in the UK "In many ways the statement represents a significant retreat by the Zimbabwe government on a flagship indigenisation policy."
National Disaster
The changes highlight the government’s drive to resuscitate an economy that’s half the size it was 15 years ago, with about 90% of the population out of formal employment. Mr Mugabe declared a state of national disaster last month due to the worst drought in almost two decades that’s killed cattle, withered crops and left millions of people needing food aid. The government’s also struggling to meet monthly wage bills that consume over 80% of revenue.
Zimbabwe hasn’t been able to access finance to build infrastructure and create jobs since it fell into default to the IMF in 1999. The US and European Union nations imposed sanctions on Mr Mugabe and senior members of the ruling Zimbabwe African National Union-Patriotic Front, citing allegations of human-rights abuses and electoral fraud.
"ZANU-PF’s election campaign slogan three years ago was ‘indigenize, empower, develop, create employment’," Mr Magaisa said. "It has not created employment, there has been no empowerment, there has been no development and now indigenisation has just been abandoned in all but name and slogans."
The economy is in such bad shape it’s forced the government to re-think its management and start re-engaging with international institutions that can help support a recovery, IMF mission chief to the country, Domenico Fanizza, said in an interview on Friday. The government is making some progress in committing to reforms, he said.
"The shift is happening. They realized there was no alternative but radically transforming the economic structure of the country," Mr Fanizza said in Washington. "It’s clear the policies they’ve been following for the past 15 years have come to nothing."
Mr Fanizza said the economy is beset by low demand, lack of liquidity and a shrinking industrial base
.
Policy Resistance
Resistance to the policy shift has centered around a faction in ZANU-PF known as the Generation-40, which has coalesced around Mr Mugabe’s wife Grace as a potential eventual successor to the 92-year-old president.
Criticism of Mr Chinamasa’s policy direction has been led by Indigenization Minister Patrick Zhuwao, who’s Mr Mugabe’s nephew.
When Mr Chinamasa and central bank Governor John Mangudya assured banks that they were exempt from rules requiring all businesses to be at least 51% locally owned, Mr Zhuwao accused them in a statement of disregarding the law and a decision by the cabinet. Mr Chinamasa and Mr Zhuwao declined to comment about any differences within the government or the ruling party.
"My appeal and plea to you is to urgently engage the financial services sector so that all affected institutions make a commitment to developing indigenisation implementation plans and indicate such commitment to comply by the deadline of March 31 2016," Mr Zhuwao said in a statement.
Ownership Rules
About two weeks after the deadline passed, Mr Mugabe issued the statement saying that banks wouldn’t be forced into unwanted partnerships. Standard Bank Group, Barclays and Standard Chartered have units in Zimbabwe.
Mr Mugabe also proposed watering down ownership rules for mining companies that have been in place since 2010. While new miners will have to offer a 51% stake to black Zimbabweans, existing operators will be able to retain ownership if they retain or spend 75% of their earnings within the country including expenditure on tax and wages. Foreign miners such as Zimplats, Anglo American Platinum and Aquarius Platinum met their empowerment obligations as early as 2014.
"It’s a humiliating moment for Mr Zhuwao. The indigenisation minister has now been reduced to the role of coordinator, after adopting a belligerent tone in recent months," Mr Magaisa said. "It’s a victory for Mr Chinamasa in that ugly fight with Mr Zhuwao."
Bloomberg
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