Okay so everyone wants to know what happened with the reinstatement. We know that the CBI did, in FACT, have a March target…this target, like other targets, is predicated on completing certain issues/tasks. So what have we learned in March that we can take forward…about the timing of this reinstatement? We can clearly see by the dozens of articles that the cabinet is not yet completed and the hard requirement is still to “fully” complete the cabinet. …We learned that the IMF is ready to go and is “demanding” the CBI to “free up the exchange rate”. We can conclude this means to put it on a float in the open marketplace (global exchanges). So the pressure is on.
We know that just recently the speaker of parliament Halboussi returned from meetings in USA with government officials. …Primary conversations were of course on the presence of US military forces in Iraq. This was settled. Next, he was told he needed to get the…government formed and do it now. …we now hear that April 9th is the target for the next voting session on these candidates. But that is a week away and another holiday is fast approaching. Next we learned that Iraq conducted a symposium or seminar on the “project to delete the zeros”. WOW! Why…would they do this if they were not serious about going ahead with it soon? They are trying to put the final touches on the process and educate those key people on what is about to happen.
Next we know that the Kurds or anybody else was not yet paid and to this date still the payroll files have not gone out. We are not moving into the fourth month without opening the 2019 budget. Conversation with my CBI contact on Monday: We were told the reinstatement rate is within the new budget and when it is opened they plan to pay out on the new rate. This why the hold up. Another cause of the holdup was a large sting operation on counterfeit currency coming from Iran. Billions of dollars worth of notes were confiscated. From my CBI contact they did run all the payroll files but they reflected the wrong rate under the program rate….oops!. They had to re-run the file and now it is based on the new rate. I was told the rate but also asked not to reveal it. I was told they will definitely pay the Kurds this week. We can expect to see articles news on this and the reinstatement may happen VERY soon afterward.