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 IMF Iraq close to 5.5b loan agreement

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dry
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PostSubject: IMF Iraq close to 5.5b loan agreement   Wed Jul 15, 2009 7:08 am
IMF, IRAQ CLOSE to $5.5b LOAN AGREEMENT

(MENAFN) Senior Iraqi Central Bank Advisor, Mudher Kasim, said that the war-battered country and the International Monetary Fund are close to sign an agreement on a $5.5 billion, five-year standby loan that the Iraq would be able to draw down in three installments, Reuters reported.

Kasim said that the IMF presented its proposed terms for the loan, including a call for fiscal reforms, restructuring of state banks and banking sector reform.

The IMF invited Iraq to reconsider its food ration program so only those in need received subsidized products. It also proposed that the central bank be obliged to follow currency stability and to fight inflation.

Kasim added that the Iraqi delegation believes that the proposals raised by the Fund are reasonable; however, the delegation doesn't have the right to accept or reject any of them.

The proposed pact, which involves three tranches of $5.53 billion, will be submitted to the Iraqi government for consideration, Kasim said.

http://www.menafn.com/qn_news_story_...yId=1093253919

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PostSubject: Re: IMF Iraq close to 5.5b loan agreement   Wed Jul 15, 2009 8:42 am
great article dry........another loan, hmmmm....
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PostSubject: Re: IMF Iraq close to 5.5b loan agreement   Wed Jul 15, 2009 8:58 am
For me, unless I understand it wrong, loans like this in the amounts it is deciding on make me think that a high RV is totaly not fesible. I mean take DinarTrdae for instance from yesterday quoting that they have aquired 8 Billion Dinar now for their selves with a speculated $3 RV, that would equal 24 Billion. I am sorry, but I am just having a hard time seing a RV much over a dollar...

Someone want to help my mind out. I know there was a Pre War Rate and a Before Sadamm Rate, I have said it myself before. It is just quarrlings ove loans as this that make me think like that.. Arrow

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PostSubject: Re: IMF Iraq close to 5.5b loan agreement   Wed Jul 15, 2009 9:04 am
Neno wrote:
For me, unless I understand it wrong, loans like this in the amounts it is deciding on make me think that a high RV is totaly not fesible. I mean take DinarTrdae for instance from yesterday quoting that they have aquired 8 Billion Dinar now for their selves with a speculated $3 RV, that would equal 24 Billion. I am sorry, but I am just having a hard time seing a RV much over a dollar...

Someone want to help my mind out. I know there was a Pre War Rate and a Before Sadamm Rate, I have said it myself before. It is just quarrlings ove loans as this that make me think like that.. Arrow


I heard on the radio show yesturday that they haven't printed the money yet, but when they do the USD will go down in value! So mybe Iraq Dinar goes up as USD goes down! Then what would the exchange Be? Question Question

Also don't forget that Iraq has "gold to back the Dinar! flower

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IMF Iraq close to 5.5b loan agreement

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