Will the state adopt the provision of sovereign guarantees to finance private industrial projects?, 30 JUNE

  Will the state adopt the provision of sovereign guarantees to finance private industrial projects?

The financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh, explained today, Friday, that the state has adopted a policy of providing sovereign guarantees for loans obtained by the private sector to finance an important package of private industrial projects.

Saleh told Al Furat News Agency: “There is a fundamental link in financing and implementation adopted by the government program and general policy in development, and its basics are summarized in the high implementation of the listed and ongoing government investment projects that faced procrastination and halting for many years.” 

He added, "The current investment program is based on completing the implementation of investment projects without interruption and in accordance with the financial resources allocated to them included in the Federal General Budget Law, while ensuring the sustainability of the funding sources necessary for the continuation of implementation, especially in the field of high-service infrastructure such as projects to develop electricity, drinking water, roads, sewers, etc., with priority that touches the lives of citizens."

 He pointed out: "Based on the above, the increase in revenues is one of the important financing levers in overcoming the problems that were facing government projects, which are called (slowed), and which have now entered into implementation and completion, in accordance with the approved policy (No more slowed projects)." 

 He expressed: "Therefore, there is a clear correlation between the capacity to implement urban projects in the country and the growth of public revenue sources (whether oil or non-oil) and harnessing their high financial flows to serve the requirements of economic development in our country in a way that maximizes the gross domestic product and provides high and sustainable employment sources at the same time.

The private sector assumes an important responsibility in implementation as it is the effective strategic partner in developing the Iraqi economy and advancing its infrastructure and various production activities."

 Saleh noted that "the state has adopted a policy of providing sovereign guarantees for loans obtained by the private sector to finance an important package of civil industrial projects, most notably projects to produce industrial and construction outputs related to the advancement of reconstruction, housing and infrastructure, with sovereign guarantees for the private sector amounting to 85% of the value of private activity, specifically industrial activity."    link

LATEST FROM MIKE BARA, 30 JUNE

 MIKE BARA

Once again, the "bondholder" has been told he will be paid this week. I was told what day, but cannot share it. I will keep you notified as rum-tel warrants.

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MIKE BARA

The “Bondholder” still has not been paid. He is expecting a call today.

Other than the MarkZ report that an announcement about lower denominations has been made in Iraq, There is nothing else to put out right now.

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MIKE BARA

The situation as I understand it: This should have gone in April. That was Plan A. The USA stopped it. The window for Plan B opens tomorrow at "Sundown" and is a week long. There is no Plan C.

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Word from a source just received:

 He got a call from a high banking source at a major bank in the south. “You’ve been bugging me about this for ten years. Well, congratulations buddy. Your dream is about to come true.”

 SOURCE: “What do you mean?” 

BANKER: “We just got a letter from headquarters informing us to get ready because ‘The Iraqi Dinar is revaluing extremely soon.’”

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The situation as I understand it: This should have gone in April. That was Plan A. The USA stopped it. The window for Plan B opens tomorrow at "Sundown" and is a week long. There is no Plan C.

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The "Bondholder" is once again certain he gets paid out on Tuesday, but he is returning to his city of origin tomorrow. He HAS to be in this location to get his payout. This means the payout COULD come sooner than Tuesday. More as I get it...

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https://dinarevaluation.blogspot.com/2024/06/the-iraqi-dinar-is-revaluing-extremely.html

💢Mike Bara: High WF banking sources are telling people who hold currency not to bother taking any contracts for work longer than a week or two — no matter how much money is involved.

We are almost there, folks…

💢 Gezelle, Liberty Lounger Extraordinaire, offers clarification for those who might be a little confused 

➡️ They are advising not to take any contracts for work (self-employed people) for more than max 2 weeks.

6.21.24

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  💢 Update from Mike Bara 6.15.24  

💢Mike: OK, I hate to be the Bara of bad tidings, but I just got info from "The Bondholder" — who is not a bond holder but a bond broker waiting to be paid commissions by the US government for bringing in historic bonds — to the effect that he won't be paid until Tuesday. 

We were hoping he'd been paid already. This would clear the way for Tier 4B, us, to be paid out.

 We were all hoping and waiting for some announcement or notifications this weekend.

 That can still happen, but IMO we don't get paid until after guys like him get paid. So we wait... and hope.

https://dinarevaluation.blogspot.com/2024/06/rv-update-by-mike-bara-16-june.html

https://dinarevaluation.blogspot.com/2024/06/summary-of-rv-updates-by-mike-bara-30.html

Iraqi Dinar🎉 It's Your Time Iraqi Dinar RV Holders Get Ready Today 2024🔥...

DRAGON BOND: What it Means, How it Works, 30 JUNE

 DRAGON BOND: What it Means, How it Works

What Is a Dragon Bond?

A dragon bond is a long-term debt security issued by firms operating in Asian nations (excluding Japan), but denominated in foreign, stable currencies, such as the U.S. dollar (USD) or the Japanese yen (JPY).

Dragon bonds are Asian corporate bonds, ex-Japan, but denominated in a foreign currency.

Dragon bonds are denominated in currencies deemed to be more stable than the home currency to help mitigate the foreign exchange risk.

Dragon bonds, introduced by the Asian Development Bank (ADB) in 1991, are analogous to eurobonds issued by European corporations in foreign currencies.

Understanding Dragon Bonds

A dragon bond is a fixed-income security denominated in currencies deemed more stable than the home currency; it is seen as more attractive to foreign investors as a result. The rationale for structuring them to be as appealing as possible to investors outside of Asia is because they mitigate the foreign exchange risk that can impact returns as currency values fluctuate. Dragon bonds are similar to eurobonds in that they are denominated in foreign currencies that are liquid and stable, but in the Asian context instead of Europe.

Dragon bonds were first introduced in 1991 by the Asian Development Bank (ADB). Because of the foreign denomination, these can be more complex than other bonds because of international differences in taxation, regulatory compliance issues facing firms that issue them, plus limited liquidity in trading them in secondary markets.

Dragon Bonds and Currency Risk

Dragon bonds were created to broaden the market for fixed-income securities in Asia and develop more active Asian financial markets. Although Asian companies had issued bonds in local currencies, they appealed mostly to domestic investors limiting access to capital. Foreign investors were often reluctant to buy bonds dominated in currencies that could fluctuate rapidly. Currencies such as the U.S. dollar and Japanese yen were considered stable enough for accumulating assets.

For example, an Indonesian company might issue a 20-year bond denominated in Indonesian rupiah (IDR), with a coupon rate of 4-percent paid annually. If the U.S. dollar-Indonesian rupiah (USD/IDR) were 10,000 rupiahs per one U.S. dollar, then a 100-million rupiah bond would be the equivalent of $10,000. Each interest payment of 4 million rupiah would represent $400 at the time the bond is issued.

To an Indonesian investor, an investment of 100 million rupiah would pay 4 million rupiah per year with return of principal after 20 years. But for an investor buying such a bond with U.S. dollars, an unfavorable movement between the relative value of the two currencies could create extra risk.

If in the next year the exchange rate shifted from 10,000 IDR/1 USD to 11,000 IDR/1 USD, then the first coupon payment of 4 million rupiah would only be worth only about $364 instead of $400 as anticipated when the bond was first issued. The bond's 100-million rupiah face value would be worth about $9,091. And if the prevailing interest rate moves up, the value of the bond would be even lower.

However, a dragon bond denominated in USD, while still subject to interest rate risk, would not be subject to currency risk. The regional economy has changed significantly in the years since the introduction of dragon bonds in 1991, including the 1997 Asian financial crisis, and the growth of the Chinese economy. However, dragon bonds continue to help Asian markets attract more foreign investment.

© Newshounds News™

Read more:  Investopedia

The Dreamscape: The 5 Month Disclosure " BY ARIEL, 30 JUNE

 ARIEL

💢Ariel - on X 6.30.24 

The Dreamscape: The 5 Month Disclosure 

P. Diddy Name Drop Associates 

2020 Election Overturned 

Technology Disclosure Release 

John F. Kennedy Jr. Debut

Julian Assange Drop New Files

New Republic Announcement 

9/11 Disclosure 

Military Tribunals

Public Executions 

Med-Beds Released

Dead Stars Re Emerge

Hollywood on Trial

J. Epstein List Releases (In Full)

DUMBS Are Disclosed To Public 

Washington DC Underground Prison 

Antarctica Disclosure 

Agartha Disclosure 

Time Travel Disclosure 

The Space Program Disclosure 

Pole Shift Warning 

Star Gates

Official Cryptid Disclosure 

Etc.

These are my imaginative outlines of what I would want to see. But we know this is stretching it a but too far. But maybe over the course of a few years as this would be a lot to happen within five months.

Realistically the landscape for everything that involves the transition period is being laid out now. 

Currency Revaluation

The Chevron Doctrine 

The Gold Standard 

Jan-6th Committee 

These are things that are currently realigning the landscape to prepare for "The New Republic" that will not be run by a bureaucracy via the 3 letter agencies. Who for the most part have a lot to lose once D. Trump takes back power. 

They will try everything to avoid this. Potentially trying to sabotage the election in general. Because the only thing on the other side of it is Gitmo for them. Not to mention his sentence. 

I can only imagine how much panic will ensue once he officially shares who us VP pick is going to be. We probably already seen him and didn't even know it. So let's see what is in store over these next few months. Because it's going to be crazy.

https://x.com/prolotario1/status/1807430398655308177?s=46

‘It’s Turning Into WW3’; The Draft, ‘Greater Depression’, Could Return |...

IRAQ IS Creating an environment for global investors, 30 JUNE

To Boost Foreign Investments, Iraq signs Singapore Convention

From the UN Development Programme (UNDP). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

In a landmark move to attract foreign investors to Iraq, the country celebrated its signing of the United Nations Convention on International Settlement Agreements Resulting from Mediation ("Singapore Convention").

Under the patronage of H.E. Prime Minister Mohammed Shia Al-Sudani, the United Nations Development Programme (UNDP) and the National Investment Commission (NIC) of Iraq hosted a high-profile conference on mediation today [Wednesday 26th June, 2o24]. 

Creating an environment for global investors

Kick-starting the conference on behalf of H.E. the Prime Minister Mohammed Shia` Al-Sudani, the Advisor to the Prime Minister, Nasser Saleh Abdulnabi Al-Asadi reiterated the government's unwavering focus on foreign investment.

"We are steadfast in our progressive reforms, striving to transform Iraq into an inviting and secure investment destination. Iraq's accession to the Singapore Convention is a significant milestone, fortifying our efforts to build a robust business sector. We will persist in our endeavours to bolster investment, combat corruption, and generate employment opportunities for our youth," he said.

On April 17, 2024, Iraq took a significant step by signing the Singapore Convention, as the Convention eases enforcement of mediated settlement agreements, paving the way for enhanced international trade and commerce between countries.

"Iraq is ready to strengthen its collaboration with countries across the globe to foster investment as well as diversify and increase its trade, and the Convention is an important tool for us to operationalize this," ` said Dr. Hayder Makiya [Makiyya], Chairman of the National Investment Commission.

Iraq enters its new chapter

The conference, generously backed by the European Union, was joined by the European Union Ambassador to Iraq, Thomas Seiler.

"We are working hand in hand with the government and UNDP to support the government's ambition to make Iraq a secure and attractive destination for foreign investments, including from the 27 EU Member States. Effective mediation opens a new door for Iraq's international trade and business."

Through its Anti-Corruption and Commercial Dispute Resolution Initiatives funded by the European Union, UNDP has also been working with Iraqi universities to build the capacities of law students in commercial dispute resolution, including mediation.

"With the signing of the Singapore Convention, Iraq is committed to transforming the landscape of commercial cross-border dispute resolution which will significantly impact businesses engaged in international trade and commerce. We will continue supporting the Government in legislation and building the necessary institutional and human capacity to make mediation work." said Auke Lootsma, Resident Representative of UNDP.

The hope is that Iraq's signing of the Singapore Convention is the foundational beginning the country needs in order to attract and instill confidence in investors who wish to do business there - creating a climate that is conducive and safe for foreign investment.

About the Singapore Convention

The Singapore Convention is a multilateral treaty that provides a uniform and efficient framework for the enforcement of international settlement agreements resulting from mediation. It applies to agreements concluded by parties to resolve commercial disputes and facilitates international trade by enabling easy cross-border enforcement of these settlements. As of 11 June 2024, the Convention has 57 signatories and 14 parties. Iraq is the most recent signatory of the convention.

About UNDP's Commercial Dispute Resolution Initiative

To create an inclusive ecosystem for investors and boost foreign investment, UNDP has been strengthening commercial dispute resolution legislation and practices in Iraq. In addition to the support for mediation, the initiative includes technical support for drafting new law on arbitration in compliance with the UNCITRAL Model Law on International Commercial Arbitration and international best practices. By facilitating consultations, workshops, and discussions with a broad range of stakeholders, UNDP aims to enhance capacity building and mainstream efficient commercial dispute resolution practices across the country.

© Newshounds News™

Source:  Iraq Business News