Thread: Debt!!!! Here is your answer!!!

Originally Posted by EJAMM
I agree, mon amis!

The debt forgiveness seems to have been grossly miscalculated by the powers-that-be. The Paris Club was expected to trigger massive debt relief leaving the GoI with the lone task of getting certain laws passed...they have failed thus far. I believe many dinar holders will be sadly disappointed when the HCL passes with no immediate revalue/reversion of the dinar. SA, Russia and Kuwait have all taken a "wait and see" approach with Iraq. Do you blame them?

My thoughts

Posted by eosirl2
Well Iraq cut off its nose to s-p-i-t-e its face, didn't it?

I remember well the IMF was acting as a mediator for the Iraqis in settling its debt. After the Paris agreement, the Iraqis decided to make the future debt forgiveness a 'private' matter and that resulted in the IMF being distant in the camel-dealing that followed. The just recently we saw in the papers that the IMF were back in dealing with the Saudis etc and suddenly debt forgiveness was back in the news, with ref to the IMF.

If you remember the Iraqi MoF was stating countries were forgiving and the countries themselves were stating that they hadn't forgiven, which my opinion was blatantly obvious the Iraqis were screwing up royally.

With that understanding it was apparent that the ICI meeting was very anti-climatic as the Iraqis messed it up (again <whispers under my breath>)

It hard to tell when the RV would be best presented and implemented but one thing for sure, it would have to be for Iraq's sole betterment and nobody else's. But in view of the above debt fiasco, I am not surprised that there's a RV fiasco going on behind the scenes.

I guess it is really a question of, 'is there an rv?', as oppose to 'when is the rv?'

Posted by ejamm
I certainly hope many read your post...it is excellent.

You are dead on! The IMF had made arrangements to facilitate all debt relief via IMF means but Iraq chose a "deal making" path for the debt outside of the Paris Club...their mistake. When Jabr starting putting his fingers in the chili the matter just got worse, until the IMF had enough.

I agree the question still remains..."Is there a rv?"...my vote is still yes and the amount will remain as agreed upon by the CBI and IMF back in Jun 05. Only after a free market float will the dinar reach historic levels, maybe 2-5 years after the initial rv.

Truly great to read your posts again eosirl! You have a keen insight.

My thoughts

Shahrastani denies that any new increase in the prices of fuel
(Voice of Iraq) - 12-07-2007

Media Center for Communication _ Akram Alaidani The oil minister Hussein Shahrastani the absence of any new increase in the prices of fuel after the agreement with the International Monetary Fund,

He explained during a press interview that the fund raising report to the United Nations indicates that Iraq has completed what was required of him on the debt owed to the Paris Club and Shahrastani said that there are promoters of a new increases prices of fuel for political reasons.


Sotaliraq.com - ÕæÊ ÇáÚÑÇÞ

Originally Posted by darock0116

Shahrastani denies that any new increase in the prices of fuel
(Voice of Iraq) - 12-07-2007

Media Center for Communication _ Akram Alaidani The oil minister Hussein Shahrastani the absence of any new increase in the prices of fuel after the agreement with the International Monetary Fund,

He explained during a press interview that the fund raising report to the United Nations indicates that Iraq has completed what was required of him on the debt owed to the Paris Club and Shahrastani said that there are promoters of a new increases prices of fuel for political reasons.


Sotaliraq.com - ÕæÊ ÇáÚÑÇÞ

See CD and MOM i'm not the only one who said we're going to Paris

wooooooooooooooooooooooooooot

Originally Posted by darock0116

Shahrastani denies that any new increase in the prices of fuel
(Voice of Iraq) - 12-07-2007

Media Center for Communication _ Akram Alaidani The oil minister Hussein Shahrastani the absence of any new increase in the prices of fuel after the agreement with the International Monetary Fund,

He explained during a press interview that the fund raising report to the United Nations indicates that Iraq has completed what was required of him on the debt owed to the Paris Club and Shahrastani said that there are promoters of a new increases prices of fuel for political reasons.


Sotaliraq.com - ÕæÊ ÇáÚÑÇÞ

WOW!!!! This is a very inportant article! Seems like they're getting all their ducks in a row.!!!

woooooooooooooooooooot

Originally Posted by sassy

WOW!!!! This is a very inportant article! Seems like they're getting all their ducks in a row.!!!

woooooooooooooooooooot

Originally Posted by darock0116

Shahrastani denies that any new increase in the prices of fuel
(Voice of Iraq) - 12-07-2007

Media Center for Communication _ Akram Alaidani The oil minister Hussein Shahrastani the absence of any new increase in the prices of fuel after the agreement with the International Monetary Fund,

He explained during a press interview that the fund raising report to the United Nations indicates that Iraq has completed what was required of him on the debt owed to the Paris Club and Shahrastani said that there are promoters of a new increases prices of fuel for political reasons.


Sotaliraq.com - ÕæÊ ÇáÚÑÇÞ

Well that means in reality that the IMF (who took over the debt forgiveness deals) 'required' of the Minister of Oil to raise the price of oil products to quench the black market and thus cause a savings to the GOI, making the GOI balance its books for the betterment of Iraq.

The IMF has been beating this issue of raising prices for well over 2 yrs, if the MoO is to believed then it would appear to be fait accompli. ( however, would like to hear the IMF repeat it too).

Again it is the IMF that is calling the shots IMO as raising prices isn't a favored political action. Remember the former MoO, he lost his job over doing it.

I think EJ once said to follow the IMF....it may well be true.

New posts.....

Thanks ROCK...not only for all your research, but because you are not afraid to START A NEW THREAD!

Some of the existing threads get soooooooooooo long and convoluted, the original topic is totally lost. May I encourage those with new ideas to START A NEW THREAD. Because I do not have as much time as I would like to be able to devote to reading all the new posts, it would be much nicer if the great ideas where broken down into several/many new THREADS. Just my opinion.
Thanks

Thank you darock, your information is HUUUUGGGGGGHHHH.
teshema/virginia

Originally Posted by teshema

Thank you darock, your information is HUUUUGGGGGGHHHH.
teshema/virginia

Originally Posted by eosirl2

Well that means in reality that the IMF (who took over the debt forgiveness deals) 'required' of the Minister of Oil to raise the price of oil products to quench the black market and thus cause a savings to the GOI, making the GOI balance its books for the betterment of Iraq.

The IMF has been beating this issue of raising prices for well over 2 yrs, if the MoO is to believed then it would appear to be fait accompli. ( however, would like to hear the IMF repeat it too).

Again it is the IMF that is calling the shots IMO as raising prices isn't a favored political action. Remember the former MoO, he lost his job over doing it.

I think EJ once said to follow the IMF....it may well be true.

and that, ladies and gentlemen, is why our research team rocks!!!!