New Development...Possibly More RV Delays.

[Luigi1]

from another source...

 

CBI TO RESUME CURRENCY AUCTIONS. USD BACK ON THE STREETS DUE TO IQD SHORTAGES. LOANS TO GOI. THIS COULD DELAY, DERAIL OR PUT THE RV ON TEMPORARY HOLD. WHAT IS YOUR REACTION?

 

2-26-2015   Newshound Guru Tlar   The CBI made at the least a temporary strategic decision to start selling the dollar again to the banks to cover the remittance side of what was the auctions.  When they pushed the responsibility for remittances over to the independent banks and cut off the auctions at the same time, they essentially left the bank with few options and almost no way to obtain the hard currency needed to pay these imports with.  On the one hand they said you have to now pay for international orders and imports but we won't sell you the USD to be able to pay for it.  This immediately pressurized the system because potentially it stood to bring purchases to a stand still if not fixed.

 

2-25-2015   Newshound Guru Tlar   The CBI just released the pressure on this side of the equation by announcing they would again sell dollars to these banks, but just to cover remittances.  What they have yet to resolve is the liquidity problem in these same 32 banks.   Until they can resolve the liquidity issue for these banks, Iraq remains in critical mass IMO.  IMO they just don't have enough dinars to open the budget at 1166.  To me that says something has to change before March 1st when they implement the tariffs and taxes, not 45-60 days down the road.  To me they can't stay where they are, they have to move forward with monetary policy change or this problem will exacerbate. 

 

Iraq is broke. CBI may loan money to GOI to fund the full budget. Kurds want to be paid in full not in pieces. Projects must be funded in order for government to remain credible to the people. Too many promises & no action. The citizens are restless. IMO.

[sandfly]

OK

[Luigi1]

I hope there will be an RV soon. Maybe smoke & mirrors before the big event.

[Luigi1]

2-25-15 Backdoc: HAPPY MEALS – imo. VERY SOON WE WILL SEE ANY REMAINING CASH BE BLED OUT OF THEIR ECONOMY UNDER THE NEW MECHANISM! EXPECT THEM TO STOP READING LAWS SOON AND BE READY TO IMPLEMENT A VOTE IN ONE BASKET AS THEY HAVE SAID ONCE OZ RELEASES THE MONEY TO ACTIVATE IT! DAYS AT MOST FOR THEM TO RUN OUT OF HAPPY MEALS! DOC

[Brinx65]

You  get a  "L"

It doesn't deserve a full " LOL "