T-bill getting CNN's attention

[kvb]

Looks like attention may be picking up. Jared, any thoughts on this?

http://money.cnn.com/2004/07/18/news/international/iraqdebt.reut/

[Marilyn]

Finally, some news on the T-Bill's grand opening !


"......."Demand was healthy," the bank's Chief Economist Mudher Kasim told Reuters. "This was an attempt to explore the market," he said. "The plan is to issue six-month and one-year maturities too." He added that a stable dinar and growing foreign reserves had encouraged buying. Iraq's foreign currency reserves stood at more than $2.4 billion last month. Most of the new treasury bills were bought by local banks. Foreign banks were theoretically allowed to buy, but settlement and taxation mechanisms were not ready for such a move, Kasim said. "We are aware there is international interest. It will take time before foreign buying is possible." ..."

[danpeg]

http://www.businessreport.co.za/index.php?fSectionId=565&fArticleId=2154589

[Jared]

It's a very good start at regaining their credibility. It starts to sound more and more that they want to keep the bonds in Iraqi hands as opposed to foreign investors. I would think initially, at least for these small 90day to 1 year notes, to sell them to the foreign investors and keep the higher maturity bonds in Iraq. But who is to say, we are getting little word as to their master plan so all we can do is guess until we get a news article that gives us a tid-bit of information. Drives me crazy, but what can one do?

Jared :cool: