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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

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World Bank offers Sofr swap to retail FRN holders

https://www.globalcapital.com/article/2bn9a8ffag9zknd02tr0g/ssa/supras-and-agencies/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://cbi.iq/news/view/2329

https://www.worldbank.org/en/programs/guarantees-program

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Dollar slips against dong - VnExpress International 

VnExpress LINK

~~~~~~~~~~

Exclusive: Iraqi finance committee deputy calls for diversification away from US dollar

TheCradle LINK

 Source : dinarrecaps

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