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STOPPING THE AUCTIONS


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I dont think the auctions will stop. The proposal is that control of the auctions move from the CBI to the MOF...  Be careful here .  The CBI was doing a good job keeping the rate stable which made it's major customers ( the importers) happy and rich. If the MOF takes over it will concentrate on meeting the budget for salaries etc. and DAMN the importers !!

Also the MOF does not have the experience to run the auctions and we should expect some foul ups during  the learning period.. Expect shortages of goods and unstable prices.

Certainly the importers were cheating and the CBI probably know that ..   But was aware that if they reported them shutting any importer down would not solve the problem and possibly their own employees were complicit. 

If this goes thru expect some interesting events .

 

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The only real income Iraq gets is USD..   It can use USD to import things needed for the military or ration card items BUT it must pay salaries in dinar and to do that it must go to the banks and exchange dollars for dinar . That has been called an AUCTION in the past and it will continue in the future no matter what it is called. Right now things are closed up. But soon the people will need other items and will need dollars.

I haven't seen what the latest HCL law looks like BUT the original law said that ALL crude production must be controlled by the central .

That means the Kurds would have to surrender control of their oil fields ---- That was the sticking point.  I DO NOT believe the Kurds would ever agree to that condition. Agreed they would Deliver a portion of the product But not control of the fields. 

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