Article quote: “The parliament voted unanimously on the Second Amendment to the Iraqi Investment Law No. 13 of 2006.”
I was particularly impressed that the Law passed with 100% of parliament in favor of it.
This probably means that the not so veiled threat from the IMF that they needed to get this done during the month of October fell on open ears.
Imagine ANYTHING getting 100% of the vote in Iraq’s Parliament!
Now we can see why the IMF felt comfortable, in spite of the terrible security and financial situation in Iraq, to state unequivocally that Iraq would “enter the world market” by the beginning of 2016.
They obviously had put enough pressure in the right places to see that this important law got through the Parliament. Finally, this is a huge feather in Abadi’s cap, in my view.
The longer term repercussions will be that he will be seen as the man who opened the door to genuine economic growth in Iraq.
Along with that will come a greater push from him for more reforms, in my view.
He will ride this wave as far as it will take him, which may mean all the way to getting Maliki arrested on corruption charges, along with all of his cronies.