Luigi1 Posted August 10, 2017 Report Share Posted August 10, 2017 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. 2 1 Quote Link to comment Share on other sites More sharing options...
Luigi1 Posted August 10, 2017 Author Report Share Posted August 10, 2017 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 1 Quote Link to comment Share on other sites More sharing options...
bostonangler Posted August 10, 2017 Report Share Posted August 10, 2017 Much to do.... We wait and wait and wait and, well you know. B/A Quote Link to comment Share on other sites More sharing options...
BJinMontreal Posted August 10, 2017 Report Share Posted August 10, 2017 1 hour ago, Luigi1 said: Luigi says... Iraq is not nowhere near ready no matter what the Gurus say. Wait ... ... that's a double negative -- so they ARE ready? 2 Quote Link to comment Share on other sites More sharing options...
MisterNope Posted August 10, 2017 Report Share Posted August 10, 2017 Iraq won't be ready for years to come. ENJOY! 1 3 Quote Link to comment Share on other sites More sharing options...
TMills6864 Posted August 10, 2017 Report Share Posted August 10, 2017 Sadly, for us, I don't believe we will see anything profitable from our investment until at least the year 2020 -- I must agree with MisterNope, Iraqi is not ready, still to much to do... yet I continue to hope... 1 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted August 10, 2017 Report Share Posted August 10, 2017 Not worried, for ever rule there is one to brake it. When the time comes they will get a waver and we are off to the races. 3 1 Quote Link to comment Share on other sites More sharing options...
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