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Is Iraq ready...You Decide.


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Luigi says...

Iraq is not nowhere near ready no matter what the Gurus say.



8-10-2017   Newshound Guru Kaperoni   "Iraq : 2017 Article IV Consultation and Second Review under the Three-Year Stand-by Arrangement..."   Quote: "The simplification of documentation requirements implemented by the Central Bank of Iraq led to a decline in the parallel market spread to 6 percent in June 2017.So we have confirmation from the IMF that the CBI spread (official rate to market rate is at 6%)...well out of compliance of the required 2% in order to move to Article VIII.   The CBI has to find a way to get the market rate down to 1207 or so.  Currently it is 1260.  ...the IMF states that Ali al-Allaq and his team have lowered the spread from 11%  in December to about 6% currently.  Still out of compliance for acceptance into Article VIII, but progress.  ...the CBI believes that three of the SB's (i believe that means Structural Benchmarks) can be met very soon. The key one's seems to be the law in parliament to modify the CBI law and freeing up one of the CBI's current financial restrictions  which they believe is the reason for the current 6% spread. If so, this is more good  news.  Clearly they are working to reduce the spread and get in compliance as soon as possible.  

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Luigi says...
One Guru says there is nothing left to do.
Another Guru says Iraq is not ready.
Who do you believe?
10 Aug 2017  Bluewolf...
Good morning, everything is so quiet coming from our bank sources. Intel is so slim and non transparent at this moment. I for one am waiting for the surprise call at any instance now, so please bear with me. Na'maste Bluwolf
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