Dinarland Highlights - 8.29.16
I cannot see how anyone is actually following the financial details of this thing and not be thoroughly EXCITED about where we are (finally!)...One point that gets missed alot - they have signed deals and agreed to remove and adhere to a more "international standard" regarding their internal MCPs... (..."multi-currency practices")... THIS IS HUGE... MCPs coming to an end...this is a big point in their whole "economic reform package" - it is a complete overhaul... MCPs and currency being only one point of the program...even until recently - they are still (or have been) operating under some odd MCPs. The WB and IMF doesn't like it...they have agreed to change - and have taken direct action and taken on breath-taking reforms on daily...it's happening before our very eyes...and my final thought is this...
...once they step across that "currency threshold" moving towards a "singular currency regime" - the logical solution is for the IQD to be "on par" with the USD (which they are currently using)...you do realize what I just said - RIGHT? the IQD is widely regarded as "GROSSLY UNDERVALUED"... by noted world economists... for them to move to a "single currency" there needs to be some parity once they do so...they can't come right out and say what it is they really mean (or convey their true intentions)... but this is looking inevitable.
Remember, their currency was NEVER devalued ...it was shut off due to sanctions...At the request of the US and the UK.
"The World Bank expressed its readiness to support the Iraqi government financial funding without conditions in order to support its reform program which was approved by the House of Representatives ..."
"it's reform program..." - already approved by the HoR? what are they talking about?
[Looks like they know what we don't.]
that's exactly what it looks like...and in light of the MoP "printed plan" from 2012/2013...looks like "back to Plan A"...BTW - MoP (Iraq Ministry of Planning) "printed plan" from 2012/2013 = IQD worth 1.13 USD for approx. 3 years...
VERY IMPORTANT LAW WAS PASSED TODAY...THIS LAW GOVERNS REGULATIONS/LEGALITY OF PEOPLE AND GOODS CROSSING AT BORDERS...IRAQ IS DOING QUITE A BIT IN THE PAST FEW MONTHS TO APPEASE THEIR LENDERS (IMF WB, ETC)...ALSO THIS WOULD BE A REQUIREMENT FOR THE WTO...ALL REALLY GREAT NEWS...REMEMBER THAT IN EARLY JULY IRAQ PARTICIPATED IN A TRAINING COURSE AT THE WTO... I CONTINUALLY MONITOR THE WTO SITE FOR SUCH ADDITIONS AND WILL KEEP EVERYONE POSTED, SHOULD I FIND SOMETHING ABLE TO BE VALIDATED AND PERTAINING TO IRAQ' ACCESSION.
[what do you think is going to happen zebari this week...him being removed...will cause a problem for investment?]
No - I don't think so... the financial side of this appears to be moving "FULL STEAM AHEAD"...
Direct words from the CBI to the GOI in several meetings...There will be no currency reform until all provinces are under government control...it was printed in ink in news articles... That being said, the liberation of Mosul is expected to take place end of September early October. Ernest and Young are expected to be finishing up with the 2 state banks mid October to end of October...Shabibi had said that the lifting of the zeros must begin at the start of the New Year and not in the middle of a quarter or middle of the year...it is not unreasonable to speculate that the lifting of the 3 zeros may be on the front burner for the start of 2017...
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Tuesday, August 30, 2016
Dinarland Highlights - 8.29.16
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