It’s one thing to have one canary singing, or two, but when there are more canaries singing, then we really feel blessed.
We did an update early this morning: PM Abadi on Iraqi TV stating the time has come to activate Article 140 and referenced things that need to take place for economic reforms to complete.
The Central Bank has announced a tender for the printing of new banknotes…particularly SMALL NOTES.
[Either this is a new batch of lower denoms or maybe they are making it seem as if this is the first time printing such notes? When will they be released?
Basically this about the lower denominations, getting them into circulation and/or accounting for those that have already been printed.
There are rates fluctuating in the system as we speak, plus another television report: the CBI Governor was talking about economic activity, and announcements on the 9th and 11th.
This is Victory Week, with the big celebration on Saturday the 9th, starting at 11 am Iraqi time.
Abadi has referred to these celebrations, and said, “It is time to launch economic reforms” and said that Iraq is going to have an impact on the world. He said Iraq is also invoking Section 140 as part of the economic reforms.
Citizens are getting additional information letting them know when to expect a rate change on the consumer level.
So we are looking forward to the big event this weekend about the liberation of Iraq and a bit more than that, with hundreds of visitors, etc.
It was supposed to be last weekend, but it now happening this week, with Saturday as the big event with announcements and so on.
There might be a rate change even before this event kicks off, and also speculation about a rate change in the midst of this celebration, and also anticipation of the rate change immediately after Victory Week.
The information I’ve received privately and what’s been put out publicly all seems to indicate that this should be an exciting weekend.
We don’t know if we will be in the bank just yet, but there will be no doubt where we’re headed by Monday.