Jeff

  In Jeff 

This is very, very important. Here’s an older article September 6, 2012 “Delete the zeros must be at the beginning of a fiscal year” They can only delete their zeros (that means change the rate) at the beginning of a new fiscal budget period…here’s why…this is a different article from August 12, 2012 “Saleh drew the interest of the Exchange must be with the new fiscal year, the Iraq government’s accounts cannot be registered in the same year, two forms of financial values” They cannot have 2 different exchange rates during the same fiscal year …Iraq’s fiscal year before they went under the Chapter 7 sanctions…so prior to 1990…was April through March.

Iraq is pretty much now out of Chapter 7 sanctions…They got off the OFAC list and everybody else’s naughty list…this article came out yesterday “Oil disturbs Iraq’s 2021 budget: an expected update of the dinar exchange rate and amending the number to reduce the financial deficit!”  There’s only one thing…that needs and requires the exchange rate. It’s a reform payment for the funding of the reforms…And we know they have to make that payment by the end of March…that means they also have to change the rate by the end of March… Quote “the ministry of Finance and the International Monetary Fund to update the Iraqi dinar exchange rate before the end of the fiscal year.”  You guys are in the best position that you’ve ever been.  Iraq can now change the rate anytime between now and the end of March.