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murchr
#4201 Posted : Thursday, March 27, 2014 7:27:01 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
hisah wrote:
murchr wrote:
Its $18Bn for Ukraine. The IMF goody bag

Poop bag. IMF has never been a saviour. That nation will in future default...


Pray I pity this country...it fell right into the mouse trap. Lets wait and see how they will enforce the requirements esp that of not susbsidizing elec.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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symbols
#4202 Posted : Friday, March 28, 2014 1:16:44 AM
Rank: Elder

Joined: 3/19/2013
Posts: 2,552
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hisah
#4203 Posted : Friday, March 28, 2014 11:43:54 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Vacuum tubes getting louder... That default sucking noise Pray

Rusal seeks debt deal to escape possible default - http://www.reuters.com/a...s-idUSL4N0MP20E20140328

Commodo prices will continue taking it on the chin until the confession chorus is done.

Quote:
Rusal, the world's largest aluminium producer, could default on some of its multi-billion dollar debt if it fails to reach a new deal with creditors by Monday, it said after reporting its biggest annual loss since 2008.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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karanjakinuthia
#4204 Posted : Saturday, March 29, 2014 8:39:32 AM
Rank: Member

Joined: 11/13/2006
Posts: 551
Location: Nairobi
Read first.

"The International Monetary Fund admitted it had failed to realise the damage austerity would do to Greece as the Washington-based organisation catalogued mistakes made during the bailout of the stricken eurozone country.

In an assessment of the rescue conducted jointly with the European Central Bank (ECB) and the European commission, the IMF said it had been forced to override its normal rules for providing financial assistance in order to put money into Greece..."

Read more:

http://www.theguardian.c...rity-would-do-to-greece


Then this.

"Ukraine has secured an emergency bail-out of up to $18bn (£10.9bn) from the International Monetary Fund to stave off imminent default but will see no debt relief and will be forced to slash spending amid dangerous civil conflict.

Critics say the package may be too small to stabilise the country as it spirals into depression with wafer-thin foreign reserves, and braces for a fuel shock as Russia’s Gazprom doubles the cost of energy in a move described by Washington as political harassment..."

Read more:

http://www.telegraph.co....MF-rescues-Ukraine.html


This time it's different.
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hisah
#4205 Posted : Saturday, March 29, 2014 9:08:42 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
karanjakinuthia wrote:
Read first.

"The International Monetary Fund admitted it had failed to realise the damage austerity would do to Greece as the Washington-based organisation catalogued mistakes made during the bailout of the stricken eurozone country.

In an assessment of the rescue conducted jointly with the European Central Bank (ECB) and the European commission, the IMF said it had been forced to override its normal rules for providing financial assistance in order to put money into Greece..."

Read more:

http://www.theguardian.c...rity-would-do-to-greece


Then this.

"Ukraine has secured an emergency bail-out of up to $18bn (£10.9bn) from the International Monetary Fund to stave off imminent default but will see no debt relief and will be forced to slash spending amid dangerous civil conflict.

Critics say the package may be too small to stabilise the country as it spirals into depression with wafer-thin foreign reserves, and braces for a fuel shock as Russia’s Gazprom doubles the cost of energy in a move described by Washington as political harassment..."

Read more:

http://www.telegraph.co....MF-rescues-Ukraine.html


This time it's different.

Yep. This time it's different Liar

I still expect Greece to default soon. Ukraine is worse; broke treasury and super size fuel price hikes will crash their econ.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#4206 Posted : Saturday, March 29, 2014 9:13:12 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Germany joins the yuan boat - http://www.bloomberg.com...s-xi-visits-merkel.html

UK too wants in on the yuan - http://www.brecorder.com...ith-china-next-week.html
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Cde Monomotapa
#4207 Posted : Saturday, March 29, 2014 2:49:28 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Cde Monomotapa wrote:
IMF Management Approves a Six-Month Extension of the Staff-Monitored Program for Zimbabwe http://www.imf.org/exter.../sec/pr/2014/pr1409.htm

#HouseKeeping


The latest: Statement at the Conclusion of an IMF Mission on Zimbabwe
Press Release No. 14/135
March 27, 2014

The authorities and the mission made progress in discussions towards an understanding on a package of policy measures and reforms to be monitored in the context of the SMP through June 2014. Discussions on these policies and reforms will continue on the sidelines of the annual IMF and World Bank Spring Meetings in early April; and the authorities remain committed to work on the outstanding deliverables under the program with the goal of completing the review of the SMP. Consideration of the Article IV Staff Report by the IMF Executive Board is scheduled for mid-June 2014, when the mission team will also update the Board on the implementation of policies under the SMP. See more http://www.imf.org/exter.../sec/pr/2014/pr14135.htm
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mnandii
#4208 Posted : Monday, March 31, 2014 1:21:02 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
Risks on Kenyan Economy
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#4209 Posted : Tuesday, April 01, 2014 10:06:33 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
Quote:
...we should anticipate a continuation of policies that assume that monetary expansion can spur economic growth. It cannot. Monetary expansion can spur phony economic growth; i.e., fooling entrepreneurs to invest capital in projects that will not return a profit. GDP may go up — temporarily. Employment may go up — temporarily. Janet Yellen and her fellow Keynesians believe that the Fed, through money creation, can create software engineers, doctors, nurses, and steel mills. In other words, they think they’re creating real resources. It’s nonsense,


Quote:
The Fed likes to think of QE as a jump start, a one-time boost, a helping hand, etc. But these are false analogies. QE funds projects that cannot exist in its absence; therefore, when QE ends or even slows down, these projects will be revealed to be unprofitable. No amount of cost cutting will make them profitable. They were born of QE and they will die when QE ends.


Quote:
The Fed has painted itself into a corner. There is no way that the nation can avoid either a recession or the collapse of the value of the dollar.


What To Expect From Janet Yellen
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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murchr
#4210 Posted : Wednesday, April 02, 2014 5:20:37 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Expect riots in Kiev in the coming months.
Reuters wrote:
* Price discount was agreed before political crisis

* Gazprom says Ukraine's gas debt is $1.7 billion

* Naftogaz chief to visit Moscow this week (Adds detail, background)

By Vladimir Soldatkin

MOSCOW, April 1 (Reuters) - Russian natural gas producer Gazprom announced a more than 40 percent increase in the price of gas for Ukraine on Tuesday, stepping up economic pressure on Kiev in its crisis in relations with Moscow.

Price rows have in the past led to cuts in Russian gas supplies to Ukraine and decreases in onward deliveries to Europe, but this time the financial blow to Kiev is set to be cushioned by a new International Monetary Fund loan package. Ukraine will now have to pay $385.5 per 1,000 cubic metres of gas in the second quarter, an increase from the $268.5 agreed in December and higher than the average price for clients in the European Union but around the level Kiev had expected.


http://www.reuters.com/a...s-idUSL5N0MT14Z20140401

In other news

Russia may revoke a deal with Ukraine, which gave Kiev a considerable discount on gas in exchange for hosting the Russian Black Sea fleet. The Russian PM said this would oblige Kiev to return $11 billion which Russia paid to lease the bases.

The deal, which was signed in 2010 in Kharkov, extended permission to Russia to keep the Black Sea fleet at its base in Sevastopol for 25 years after 2017, when the current agreement was due to expire. In exchange Moscow offered Ukraine incentives, including a discount on the price of gas and a waiver for some payments to Russia.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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  | | Edit by user: Wednesday, April 02, 2014 6:00 AM | Reason: Not specified
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