Saturday Evening Opinions @ 7:50 PM MST - 12/10/2022

[ronscarpa]

Remember, no one really  knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt...  RON 

 

 

Paulette  Sudani's GOI continues working, and I believe will pass the Budget in December...It then goes to Parliament who will likely read it after reconvening approximately 1/07/23...This will be the "1st Reading"...It will then go to Parliament's Finance Committee for "study and observations"...this often can take 30 days or more...Parliament then does the "2nd Reading" ...changes may have to be made which legally requires it go back to Sudani and his GOI to make changes...Upon return to Parliament, if all is agreed by Parliament, it can go for third reading and vote which is usually done "line item by line item"

 

Pimpy  When it comes to Iraq we're always taking one step forward and three steps back...There's problems with the currency auctions...they just can't seem to get it together...the Federal Reserve has been auditing the currency sales...and they're not liking what they see.  Some of the biggest issues that foreign investors and the International community had with Iraq - Money laundering and financing of terrorists...at least they're catching these things...working with the United States to fix the issues...

 

Frank26  The CBI is having explosive meetings right now with many countries and entities in preparation of [Iraq's] budget and new exchange rate...the word 'mechanism' is being used to cover the new exchange rate in the budget...keep looking for that word because the governor of the CBI will be using it a lot from now on...

 

Mark  Article: From Iraq: “The democrat announces the formation of a committee titled (Article 40)”  The Kurdistan democratic party announced today a committee to legislate the Oil and Gas Law.  We were told a week or so ago that they had agreed to the framework…and this is it. It is now official and announced in Kurdistan. Long ago we were told that article 140 was one of the last stumbling blocks for revaluing the Iraqi currency and they have now worked out the differences with the Kurdistan region including profit sharing, taxes, revenues ect…For those of us that have been following this a long time…this is very good news...

 

 

[Luigi1]

11 hours ago, ronscarpa said:

Frank26  The CBI is having explosive meetings right now with many countries and entities in preparation of [Iraq's] budget and new exchange rate...the word 'mechanism' is being used to cover the new exchange rate in the budget...keep looking for that word because the governor of the CBI will be using it a lot from now on...

 

 

Don't count on the ER rate being in the Budget.

Nobody has produced any evidence to make such a claim.