Kaperoni

Breaking News…it appears that new PM Mahdi has sacked the CBI Gov Ali al-Allaq. If true and Ali al-Allaq has been removed history of this position has proven that it causes a delay and monetary policy which is not good news for all of us waiting for Iraq to engage their banking system with the world financial system.  It also could have an impact on compliance with the IMF. When previous Central Bank Governors were removed the spread went significantly outside the 2% requirement. Unless Mahdi plans to bring back Shabibi (doubtful) there will be a period of instability in Iraq thus possibly causing the dinar to fall out of compliance. Setback for sure. This is the second time we have been close to the beginning of currency reform. Could end up being a sad day delaying months if not longer. PM Mahdi is pro reform and is clearly aware of the urgency to rebuild, create jobs and invite investment so I remain hopeful for now.