Frank26

A currency swap was actually recently done with the Central Bank of Iraq and banks of the United States of America and other banks all around the world.  This process is long. They’ve been working on it for a long time.  Over a year. I thought they’d be ready this past January. No, they failed again and maybe it was because of the political B.S. of Iran. But we got that taken care of – stability and security.  And we stopped the auctions and using the American dollar. The CBI and US banks made swaps. Around the middle part of December last year…this scenario is pressure because it’s leading the IQD to the point of  raising the value of the currency. It’s the only solution for both the CBI and the GOI to pay their bills and build Iraq. They’re running out of American dollars…oil is not selling at a very good price right now putting pressure on the CBI and the GOI to raise the value…it’s all pointing in one direction.

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