Monday, January 5, 2015


DINAR IRAQ & DONG VIETNAM:I am convinced that Iraq has decided to raise the value based on economic growth, investment, etc. and as the IMF says “gradually.” And I do not believe Iraq will LOP.
First of all, yes the budget was passed last week. It is also true the parliament is not on vacation or leave until January 7, 2015. Another fact is that Al Shabbi will be the official governor of the CBI. This has not only been confirmed by the news, but our (many) sources. …what is next? The only true answer to this is in the hands of the CBI. The CBI trumps all regarding values and future policies (except within the understandings of the expectations of the current government.) Now that the budget has been passed, it is of my opinion based on the laws, that the monies will not be disbursed to the locations within the budget for a couple of weeks. Just because the budget was passed does not mean instant value change today. This has to be between the CBI now and their procedures…With what we do know it is really hard to not get excited…it is again, up to the CBI to implement it.

The Iraqi Stock Market has been closed on the 29th of Dec and will not re-open until the 11th. The budget has been agreed to but it too will not be voted on until around the same time period but will be made retroactive to the January 1st. Articles have come out stating that the provinces, who for the first time will be managing their own affairs and projects under the new Federation Laws, will be funded with the opening of the budget in January. The HCL is also agreed to in full by both the Kurds and Baghdad. The HCL is revenue sharing and it is based on the budget. It tells all sects how much they will get out of the oil revenues and how they will be paid. The HCL is scheduled to go into effect around the first of the year and must come before the budget is opened

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.