BGG

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Article quote:  “…the willingness of credit with the international Monetary Fund by which it agreed to grant Iraq a financial loan of $ 5.3 billion agreement…”
Their whole budget relies entirely on oil – everything you see in their budget is their whole oil production… their everything rises and falls on oil production and oil prices.
This loan is just a vehicle to get the IMF and “world support” on board…two things they really need...
1) IMF oversight and a demonstrated ability to do as they are told…

2) international acceptance… re-integration with the world economies.
#2 won’t fully happen without #1…AND international acceptance in every way.
This includes an internationally priced and accepted currency.
According to economists – once they are internationally integrated – their currency priced right, investment laws are properly amended and internationally accepted –
THEY WILL GET HIT WITH A WALL OF INVESTMENT MONEY… (their actual words).
When this happens – they will be a lot less dependent on oil income…far more diversified.
[The IMF is in charge. What say you?]
I agree… and they seem to be responding.
I really think all of this is part of “the financial reform”… no doubt. …unlike in previous regimes – there is no stall here… it’s all GO, GO, GO!!
[IMO the interest for us now is only the intro of new currency and how they will treat the existing 3 zero notes…]
No need to be concerned about how they treat the 3 zero notes…
They are worth a Dinar and will still be worth a Dinar once they make the change.