KTFA: The Central Bank of Iraq participates in the annual meetings of the International Monetary Fund and the World Bank LINK
MilitiaMan: There is a 15 page pdf file on this subject out from the CBI in Arabic. It goes into detail for letters for credit and guarantees. All of it on and about their electronic platform.. They are readying to get this country into an international environment for trade.
The likes of the World Bank, International Monetary Fund, US Treasury, American Chamber of Commerce, etc.. of late are all about moving forward and apparently finalizing necessary formalities. The document is instructions on the implementation and rules of the platform, letters of bank credits and guarantees.
All items are looking to be in place now or at least well underway.. A good thing.. imo ~ MM
KandG: Thanks MM – what are your thoughts about all of the instability that is now occurring based on multiple articles today. Do we really think the CBI will act under these conditions. Seating a government and seating this train wreck are 2 separate things. Will the CBI choose to ignore the politics which we have been taught – in order to releive the pressure of the UN, WB, etc – assuming their pressure is really being applied for the good of the Iraqi citizens ?? Inquiring minds would like to know your thoughts on these specific points. IMO
MilitiaMan: Just because one feels the circumstances are a “train wreck”, may not be the case at all. Once the voted the president and then the PM we watch for a seated cabinet.. There is nothing to say that is not underway nor going to be postponed. They gave a within time frame. The authority on the matter has not spoken to a date specific. A deputy apparently has stated end of next week.
As I pointed out today, they are in consistent with news and likely on purpose to keep things specific to be on the backfoot if you will. Something Dr Shabibi told us would happen at the end.
Kuwait had no running water nor electricity when they RI’d. They have a President and a PM working to sort the cabinet while today there is a new Finance Minister in her office while the deputy is in WDC with the World Bank, IMF, UST, US Chamber of Commerce…
The CBI is independent don’t forget.. The meetings are all about electronic platforms and letters of credit and guarantees.
The meetings are likely final training on the new system.. They are not going to drop off a new electronic system and not train them on the rules and regulations and processes.. That would be like bringing a new MRI machine to a hospital and drop it off with out instructions.. lol
Getting the purchase power is all about the citizens. My contact source “a Doctor” from Iraq tells us that the citizens are happy and expectant of a rate change..
So, there are my thoughts.. I am in a good place as I understand it to be, it is not all about Iraq.. It is far bigger than that and it is definitely underway and we see evidence in the aforementioned articles too. imo.. ~ MM