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Luigi1

RV Is Done...RV Is No Done...Gurus Can't Decide.

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Luigi asks...

OK who's right? Is it done or is it no done?

Not verified. Your opine.

 

 

 

9-15-2017  Newshound Guru Kaperoni...NO DONE.

Article:  "Three-quarters of the money supply outside banks and the central circle .. calls for investing"   I hate to say it, but this is another article that speaks as if they do not know what they should do.  As we have said over and over, they need to get parliament to do its part...passed the laws, strengthen the CBI and get deposit insurance in place.  Doing so will invite foreign investment, create a revenue stream outside of oil and help them turn the economy around.  Iraq tends to do nothing, then complain about it. It's got to be frustrating for Ali al-Allaq, he has been waiting for his revised CBI Law and parliament keeps kicking it down the road. 

 

9-15-2017  Guru Bruce...DONE.  

We were looking for an announcement to reflect the new rate. We believe the Gazette did come out yesterday with the rate, I don’t have it exactly yet. I am not for sure it got released or it will be release Saturday as far as the new rate. Iraq is done. I heard something about the rate for Iraq but today is different. I couldn’t nail done it.

They are moving along well and that will bode well for us in the very near future.

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here's some more articles related to the above...

 

 

9-14-2017  Newshound Guru Militiaman...NO DONE.

Article:   "$200 million to support stability in liberated areas"   Quotes:  "The World Bank has allocated $ 200 million to implement the emergency project to support the stability of the liberated areas..."  "...the project will be launched at the end of September..."   End of September, interesting timing. I'll bet there are strings attached, as in raise the rate on the IQD first. Imo.

9-14-2017  Intel/Newshound Guru payray...DONE.

  Article:  "The Federal Government has issued new measures to support and revitalize the investment and reconstruction sector in the country."    Sounds as though they intend to industrialize Iraq, and utilize their youth which make up about 50 percent of their population...   It is going to be interesting to see how this transition takes place... Will the Iraqi workforce be up to the task?... The diversification of Iraq's economy will take some time to take place... But considering the amount of time, and resources that have been poured into Iraq, those who have so certainly want to ensure that their investment pays off...
 

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    • By Luigi1
      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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