Breitling

There is massive phenomenal news coming out of Iraq…article “The Finance Committee rebuild the of the draft for the Financial Management Bill and announced the establishment of a mechanism to pay off foreign debts warn the committee on the economy and investment to double the value of external debt because of the benefits of them.'”  –  Question – If I’m understanding correctly they’re talking about making sure when the rate changes they won’t overpay their debts.  So they’re changing all their rates on their debts.  This was the law the CBI was talking about a year ago that needed to happen before they could change the rate.

“Am I reading this correctly?” Absolutely. That’s exactly what it is. It’s a major major deal for us. But before you get too excited remember it doesn’t say when they’re going to do it and they don’t give us a clear date on the revaluation and all that stuff…Is this a big mess or what?  No not at all! If you understand the importance of that [Financial Management Bill] then you’re going to be very very happy. For some people it’s too technical and it won’t sink in but it’s a phenomenal position to be in for us and watching what these guys are doing. So they’re moving forward.