The CBI right around Thursday going into Friday…they made some moves and there is a good sound reason for these moves…it was around that time that our TEAMS found out that they were about 2 or 3 days away from taking the recommendations that were given to them from the IMF and many other agencies they are working with right now and move forward with the solution to their liquidity problems in Iraq.
DELTA and I talked and thought good gracious if they do this there is only one way and that is to lift the value of their currency…these guys are very serious about taking the recommendations of the IMF and fulfill the solutions to many of their problems…paying debts to people…the deficit in their budget…all the bad things that are going on with Iraq right now with their reforms…2-3 days…well that would put us right about now…today.
It is of no exaggeration when we say there was a lot of activity and…some very powerful articles that had some equally powerful statements.
The IMF is in contract with the CBI and the GOI together…there is a target date and it is being rumored all over Iraq right now.
The Minister of Planning…says to fix their problem they need to raise the rate to 1 to 1, actually he said a rate of about 1.13 to 1.15 for 2-3 years and then he said, maybe after that time period maybe we can see if we can take it up into the $3 range.