You have to look at Kuwait’s as a prime example to gauge Iraq. Kuwait specifically did theirs on a Sunday morning of March 24th of ’91. The reason it was done at that time is because that was done shortly before the beginning of their fiscal year which would be April 1st.
Iraq is gonna have to change the rate at the beginning period of a new accounting period…because this is such a major rate change…if it was $3 that would be a 3000% increase. If it was closer to $4 it would be a 4000% increase. That’s massive…I’ve been saying this to my long timers throughout the entire year of 2019…
Iraq already came out telling you they’re doing a temporary interim budget at the beginning of the year which means the 2020 budget will not cover starting from January.
They’re telling you that they’re going to utilize a new fiscal year.
Because of that temporary budget…the factual data shows that they’re transitioning back to their previous fiscal year going from April through March.