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Saturday, August 5, 2017

G-Lin UPDATE, 5 AUGUST

Article:  "Kurdish delegation to visit Baghdad next week on the referendum "   Quote:  "delegation from the Supreme Council for the referendum in the province of Kordesta to the capital Baghdad, next week, to hold official talks with federal government officials on the independence of the Kurdistan region."  I personally do not see this being a quick occurrence. It may succeed in the vote in Kurdistan but that is just the beginning. This would be a monumental change. However, with all of the above going on, the monetary reforms are moving forward. I don't think there is anything politically that can stop the forward progress being accomplished.

Next month's Art. IV consultation in it's entire by IMF should be an interesting read. And if Iraq is released completely from Chap. 7 restrictions by the end of the year, 2018 might be our year. Could it happen sooner? Sure. I would think Abadi might love to take all the credit before the elections but they need to get their ducks in order. They have been moving at a break neck speed since Mosul was liberated. Shocking really the amount of investors kicking down the doors. And Iraq using their own currency in the latest bond offered is interesting. Lots going on. Also this Commercial Agency Law that was read yesterday for the second time, may have the investment laws we have been looking for. It may pass tomorrow in Parl. and when it is published we could see a lot of what we need. Buckle up. It is moving fast now.  As usual all is JMO.

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