In MilitiaMan 

Kadhimi talks of Salaries in the same breathe as the funding of the Kuwait projects. The question is, with the international borders opening and the automation of payments for taxation, salaries, fees, etc, will they have a program rate associated with new opening internationally or will the new issue be different?  They did not implement the monies for upwards of three years now?  Why now? Well, if Iraq is to be fully article 8 compliant they’ll need the rate to change to reflect that. The borrowing law was legislated and is to be enforce. That suggests they have the ability to borrow.  But, liquidity suggests that couldn’t be done at at program rate…imo.