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Saturday, June 9, 2018


6-9-2018   Newshound Guru Kaperoni   The current rate of the Iraqi dinar 1190 is real and accurate and a result of monetary policy accomplished over several years when Shabibi was in charge it's not artificial or program rate.  The recent change in the exchange rate in year 2015 to 1186 now reflecting 1190 is real and a result of discussions between the IMF and the CBI to monitor the conditions in Iraq and the subsequent reforms.  As I said before numerous times if and when the CBI accepts IMF Article VIII they will have to get off the peg and move to some type of float allowing the dinar to gradually rise based on investment and capital influx. This is no overnight event.

Newshound Guru chattels   Quote:  "Legal team replaces Iraq High Election Commission & supervises hand recount of votes from 12 May. This will take 3 weeks. (Authorities of current government end 30 June & if no new government formed, a temporary government with limited powers takes over)"  So, at this point there has been no ratification of the election results by the Iraqi Judiciary. The timeline for government formation has not begun until the act of ratification.  It appears that it may be after June 30 until the completion of the recount and the election results can be ratified. Iraq will have a caretaker government beginning about July 1st. It is unlikely that Iraq will have a new government until late August or early September, IMO.   ...I have opined that the first quarter of 2019 seems like the earliest date for completion of monetary reform and the realization of any value for us.  Not a prediction, but nothing likely before then is my sense of it.

6-9-2018   Newshound/Intel Guru Mnt Goat   Article: "SECURITY COUNCIL SANCTIONS COMMITTEE CONCERNING IRAQ REMOVES ONE ENTITY FROM ITS SANCTIONS LIST"   ...this is WOW! news. Now the Central Bank of Iraq can do business with the outside world. Apparently when they told us last year that Iraq was “fully” out of Chapter VII sanctions this was not entirely accurate. But this is fantastic news today. Could this be why they would not let the CBI reinstate the currency up to now?

6-9-2018   Newshound Guru Kaperoni   Today there is more discussion on the desire to do a manual recount of election results. These efforts if successful could slow down the process of forming a new government for several months.  More importantly these kinds of activities drastically curb the desire for International Investment in Iraq.  

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