Goldilocks "Debt Ceiling, Vietnam and more" Friday 5-12-2023
Goldilocks and Seeds of Wisdom
Thank you RJ
Good morning Dinar Recaps,
Goldilocks posted comments, links, and one photo:
The Debt Ceiling meeting has been postponed for one week.
Safety of Regional Banks are in focus. Regional banks are
under pressure to reprice their customers' contracts offering higher rates.
Banks are looking for money because they know that the
runoff at the FED level in liquidity is real.
Banks basically need their customers to remain in their
system. The competition for customers at the banking level is real.
© Goldilocks
According
to the experts, the Vietnamese Dong has been the most stable currency in Asia.
Since the beginning of the year, Vietnam has been able to
accumulate more foreign currency reserves to support their National
Currency.
This is creating a stronger demand for their currency over
the US dollar trading at similar levels as the Yuan and Yen.
The demand is expected to normalize their economy by the
end of the year increasing the value of their own currency to sustain their own
economy.
© Goldilocks
VietnamNet LINK
~~~~~~~~~~
World Bank offers Sofr swap to retail FRN
holders
~~~~~~~~~~
Iraq received a delegation from the World Bank
yesterday for a meeting.
International Finance Corporation (IFC) affiliated to the
World Bank discussed their guarantee program.
During the meeting, the Central Bank of Iraq and the
International Finance Corporation discussed ways they could collaborate their
efforts going forward.
A guarantee program includes the following:
* The ability to work with a AAA mitigation financial structure
guaranteeing a solid framework of collaboration between countries.
* Guaranteeing foreign and local currency obligations will
be met.
* Minimizing currency risk (convertibility,
transferability, etc,)
* And finally, a guarantee program such as this will
secure both private and governmental agencies from activities that will bring
their financial system down.
© Goldilocks
https://www.worldbank.org/en/programs/guarantees-program
~~~~~~~~~~
Dollar slips against dong - VnExpress
International
VnExpress LINK
~~~~~~~~~~
Exclusive: Iraqi finance committee deputy
calls for diversification away from US dollar
TheCradle LINK
