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Tuesday, July 25, 2017

RAYRAT TIDBIT, 25 JULY

The CBI talked about economic reforms in the next few days, and said that they would lose IMF support if they didn’t get it done!  We haven’t had confirmation of lower denominations. IT was said that the supplementary budget had to be passed first, and we understand that when it is passed, the rest will appear in the next few days. Over the weekend, we were told that the budget was approved and it should show up in the Gazette on Wednesday.   Iraq has a meeting ...1. August with the World Bank about their 580 billion dollar loan, and reforms must be in place before that time. The CBI has submitted their paperwork to the World Bank, and I guess we are waiting for the IMF and World Bank to sign off on it. So we are looking for this to unfold prior to August 1, or on August 1. We’re feeling pretty good about the 1. August, or before, unless something unforeseen happens.  It looks like we are at the end of this ride, based on the information.

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