Jeff

  In Jeff

The reason the rate hasn’t changed is because the U.S. is requiring them to have stability. The stability for Iraq means them being able to work together and getting things done together. Since the beginning of last year they have not been able to form a government revealing to the world that they’re not able to work together. Right now they still have to finish what’s IMO the two items…the rate change is waiting on – would be these “special grades”. The independent bodies is for the formation of the government. One of these as an example would be the Central Bank Governor.  That’s why his proxy term is only right now valid through July 15th. That’s when he’s out. The other item is the oil/budget numbers agreement between Kurdistan and Baghdad…both are now very close to being done within the next two weeks.