Timeline For Iraq Debt Repayment.

[lasagnabro]

Found this on the JubileeIraq.org site:

January 2005 Elections for a new Iraqi government scheduled to happen.
January 2005 Paris Club moratorium set to expire, and debt payments likely to begin, starting at about $2.5bn/yr excluding principal repayment, on which there is likely to be a grace period of 3-5yrs.
2004
October / November Transitional government will be pressurised into signing Paris Club debt agreement and an IMF structural adjustment program.
14-15 October Tokyo donor conference
2-3 October IMF/WB Autumn Meetings.

[JJLL]

Hmmmmmmmmmm.... Now if "debt payments likely to begin..." then the dinar should open.

You can't pay off debt with money that is only valued in the country its coming out of :)

[mb55tech]

Hmmmmmmmmmm.... Now if "debt payments likely to begin..." then the dinar should open.

You can't pay off debt with money that is only valued in the country its coming out of :)

good call, you know with all these debts getting cut-off so soon, like the other day the 45 bil. that was grant money, was cut, and the 70-80% from germany that has been cut!! seems like they're trying to get all of this taken care of relatively quickly, and pretty close together....and how the IMF meeting is coming up on the 2nd and 3rd.....makes you wonder why they're trying to get this all done right away.....maybe there's some credibility to what that new guy said about what Mike Silva said....mmmmm, i don't know about you folks, but i'm gettin' pretty anxious!!! :o

[BRYAN]

I think that Germany relizes now that the only way to show the world that they are helping Iraq in some way is to stop resisting and draging their feet on the debt issue ..

[mb55tech]

I think that Germany relizes now that the only way to show the world that they are helping Iraq in some way is to stop resisting and draging their feet on the debt issue ..

what if all these countries were relieving debt now, because they were stocking up on dinars, and they were told that at the opening, it would open at a decent rate, that they could just exchange their dinars and alot of their money would be payed back basically through that situation, thus they would gain a large "settlement" so that iraq could jump start their economy without actually having a debt to repay??? any thoughts???

[TYSON]

what if all these countries were relieving debt now, because they were stocking up on dinars, and they were told that at the opening, it would open at a decent rate, that they could just exchange their dinars and alot of their money would be payed back basically through that situation, thus they would gain a large "settlement" so that iraq could jump start their economy without actually having a debt to repay??? any thoughts???

Why forgive a sure thing for speculation.

[BRYAN]

Like .00007 cents on the dollar now and in a year who knows they may have the debt that the forgave and intrest !!! good thought !!

[IraqiFreedom]

Why forgive a sure thing for speculation.
Reputation Points :huge:

[RogerL]

Just because debt payments have to resume in January doesn't necessarily mean that the dinar has to go international. The only condition is that debt must be paid with hard currency. Likely, Iraq would draw on its oil money, denominated in US dollars, to pay its debts.

As an example, this is how the Soviet Union paid its debts. They had to draw on their supply of hard currency since the Soviet ruble was never convertible.

That doesn't mean the dinar won't be international by then. I'm just saying this is not a required condition before debt payments resume.

[krachon]

If Iraq decides not to pay back, What would happen? :confused:

[danpeg]

Similarly to credit rating in the U.S. - where no one wants to do business with a bad debtor.. no country wants to do business with a nation that does not pay its debt.

[IraqiFreedom]

no country wants to do business with a nation that does not pay its debt.But in the case of oil, do they have a choice? Also, the number of nations wanting to hold Iraq accountable to the debts of Saddam is small. I think that a PR campaign can be put together to make these countries look like greedy pigs, if they don't already. I think that most of the world would continue to trade with Iraq even if Iraq snubbed their nose at countries like France. Do you think that the US would not trade with Iraq if that happened? When pigs fly!

[RogerL]

But in the case of oil, do they have a choice? Also, the number of nations wanting to hold Iraq accountable to the debts of Saddam is small. I think that a PR campaign can be put together to make these countries look like greedy pigs, if they don't already. I think that most of the world would continue to trade with Iraq even if Iraq snubbed their nose at countries like France. Do you think that the US would not trade with Iraq if that happened? When pigs fly! The fallout would come if Iraq ever tries to borrow money for whatever reason. Once your credit rating is gone by refusing to pay off your debts, nobody will lend you another dime, or dinar in this instance. Any transactions that took place thereafter would have to be in cash.

The bottom line is that bankers care about getting repaid and will only lend with the likelihood of seeing a return on their money.

[krachon]

I think once Iraq gets on its feet, they will call the shots. They have black gold, the world depends on it and they know it. What is France going to do? What can they do about it? Especially since those snail eating pu----s were against the war in Iraq, and Iraq is backed by the mightiest army in the world. The most they can use is harsh language. :lmao: I hope they don’t get paid a single cent or dinar. They are unbelievably ungrateful people specially since the reason they are not speaking German is because thousands of Americans spilled their blood freeing them. They did't want to loose their investment in Iraq, They didn't care about American frienship.

[IraqiFreedom]

The bottom line is that bankers care about getting repaid and will only lend with the likelihood of seeing a return on their money.I generally agree with your point. I just think that this is a special case. Anybody know what happened to Germany or Japans debt after WWII?

[Jeffrey]

I think once Iraq gets on its feet, they will call the shots. They have black gold, the world depends on it and they know it. What is France going to do? What can they do about it? Especially since those snail eating pu----s were against the war in Iraq, and Iraq is backed by the mightiest army in the world. The most they can use is harsh language. :lmao: I hope they don’t get paid a single cent or dinar. They are unbelievably ungrateful people specially since the reason they are not speaking German is because thousands of Americans spilled their blood freeing them. They did't want to loose their investment in Iraq, They didn't care about American frienship.


Well said Sir.....very well said! Personally.....I think that "IF" they are repaid...the currency of choice should be SOAP! For them to think that they are so much better than everyone else is odd to me......since most of the ones that I have ever been around smell like a pack mule! :lmao:

[mb55tech]

I'm under the impression that iraq needs money now to help rebuilding, construction efforts, iraqi forces, and exports from foods to electronics. it seems that the only way that they'll be able to start buying anything is by launching the dinar soon. now that they've found a large amount of countries willing to clear or dramatically reduce their debt, they need to start working the economy before they begin their debt repayment. so it seems that if they were to launch the dinar at $.33, then many people will trade their dinars, and even though dinars will start flowing back into the country and the economy, since they've got alot of factors backing their country, the dinar should hold value at that rate, and should be able to get more done with their globally-traded money. they'll be able to pay for more cleanup, and recontruction of all aspects if they can use their dinar at a good valued rate. i also think that the markets will gladly hold that rate, even with the turmoil. if the worlds greatest economy is willing to stand by the iraqi's, then the world will almost surely follow our lead....

but then again, this is just my opinion so please don't bite my head off!!! :no:

[krachon]

Well said Sir.....very well said! Personally.....I think that "IF" they are repaid...the currency of choice should be SOAP! For them to think that they are so much better than everyone else is odd to me......since most of the ones that I have ever been around smell like a pack mule! :lmao:

Amen !!! :lmao: :lmao: :lmao:

[Psycho for Dinar]

Read through this...a very familiar ring to it!!
http://www.imf.org/external/np/exr/center/mm/eng/mm_dr_01.htm

[Psycho for Dinar]

And a little more on European Debt Payments! :D

http://www.jubilee2000uk.org/jubilee2000/relief_before.html

[IraqiFreedom]

And a little more on European Debt Payments!Great info!

Sounds like France and Germany owe the US some dollars that the US has let slide. Let's call the loan plus interest if they don't forgive Iraqs debt. They are greedy, self rightious, x!@#'s. History really does reveal the double standard that these countries apply.

[Psycho for Dinar]

http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=6343183

The IMF said earlier this month Iraq could have an IMF-backed economic programme with financing in place by the end of 2004.

[Iraqi Al Yahud]

France, Germany, Russia, China want to get paid, and not in Iraqi dinars :drunk:

[mb55tech]

France, Germany, Russia, China want to get paid, and not in Iraqi dinars :drunk:

that's not true. if our country will gladly accept dinars soon, then they will too.