BLC Admin Shredd Chat 04-19-16 Part 1 of 2

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BLC Admin Shredd Chat 04/19/2016   Part 1 of 2

tlm724   ADMINISTRATOR

Zebari continues his meetings in Washington to get financial support
 
http://ift.tt/1XHIpZP
 
[SHREDD] "according to assurances from close sources meetings, the agreement will contribute not only in Iraq for concessional financing but will significantly help in obtaining financial support from the international community and facilitate entry into the international capital markets.
 
[tlm724] facilitate entry into the international capital markets
 
[tlm724] SHREDD what does that mean ?
 
[SHREDD] this part and another later in...facilitate entry
 
[SHREDD]  same page...lol
 
[tlm724] great minds lol
 
[SHREDD] this means the actual move to a market economy
~~~

[SHREDD] this tells me that the plan is set
 
[tlm724] oh I like that !
 
[SHREDD] but they need to have admin and financial support
 
[SHREDD] for WHEN this takes place
 
[SHREDD] this article certainly supports the financial stability Iraq is looking to secure during this upcoming time of monetary policy change
 
[SHREDD] "discuss the best ways that make it easier to enter Iraq to the global financial markets and the provision of international financial support through the pursuit of institutional reform and structural programs and access to technical assistance and loan guarantees from the World Bank."
 
[SHREDD] Good evidence the plan to move to a market economy is still on track. The transition brings risk which need to have financial underpinnings and support, should the process require it.
 
Meaning, currency demand response to the switch to a float, drastic swings in the market rate (at least right away), and capital needs of the banks. These are somewhat unknown so the technical assistance and loan guarantees are the backing to support this before they initiate.
 
[SHREDD] that's it for me. I liked this one, as it tips their hand that they are nearing change.
 
[tlm724] thank you, do you think there will be a specific sequence of events we should look for ??
 
[SHREDD] and a good one for us.
   
[SHREDD] I would say we look for guarantees for support. We know the pressure from the WB and IMF are there
 
[tlm724] no pressure shredd lol
 
[cat]  lol
 
 
[SHREDD] so if they can secure support from both technical/administrative side as well as financial, that will be an indicator
 
[tlm724] SHREDD those guarantees may be in the stand by agreement, no ?
 
[SHREDD] I was going to type that and/or memo of understanding but not sure how they will do it. Loan agreements for sure.
 
[SHREDD] set aside funds via a loan will be something to look for
 
[SHREDD] they gotta be able to anticipate and weather responses to such a big move
 
[SHREDD] I need to refresh myself but I also know there are some pending laws to be passed
 
[tlm724] always the laws shredd, they are working on the Government Banking Act now
 
[SHREDD] that's right, thanks
 
[tlm724] yqw
 
[tlm724] here it is
 
Chairman of the Finance Committee and chairs the Workshop on Government Banking Act April 14, 2016 Faleh was chaired by Deputy Chairman of the Finance Committee in force on Tuesday (12-4-2016) workshop organized by the Association of Iraqi private banks on Government Banking Act, on one of the halls of Babylon Hotel in Baghdad.
 
Houdralorhh and representatives from the Ministry of Finance and the Central Bank of Iraq and the Shura Council of State and government and private banks.
 
The workshop discussed the articles and paragraphs law of Iraqi banks and the most important observations in him, where he presented the audience their ideas and opinions on the draft law.
 
[SHREDD] oh, super, thanks
 
[tlm724] http://ift.tt/1qXOR4L
 
[tlm724] thanks for your insight, love the banker ! lol  
 
[SHREDD] I'm hopeful this pressure brings results I really am
          
[SHREDD] The IMF was clear last year what their expectation was
 
[tlm724] well they can sure mess up a picnic but hope springs eternal
 
[SHREDD] right  lol
 
[tlm724]   lol 

[SHREDD] either the threat of the IMF pulling support is false or they put their foot down
 
[SHREDD] then, what will be the impact and response from parliament, that's what I'm looking at
 
[tlm724] step one parliament get your sh.. together, step two pass the laws !!!
 
[tlm724] legal support first and foremost
 
[SHREDD] couldn't have said it better myself! 
 
[tlm724] I vote the IMF put their foot down   Wink
 
[SHREDD] I do too
 
[SHREDD] I would think "money talks" to the IMF  
 
[tlm724] money talks BS walks baby  Cool
 
[SHREDD] I know that's right
 
[cstacy] tlm724 thanks, SHREDD thanks also
 
[RCS1947] thanks Shredd and timmie!
 
[SHREDD]  np, it's just nice to have something to watch for, it's been a while, let's see how this plays out

Part 2

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