Ours news today is extraordinary. It is all very good…finally! So, last week the new finance minister Allawi under al-Kazemi came out and told us they must revisit the exchange rate of the dinar. This week we hear from a British economists telling Iraq they only have two alternatives to survive: either to drastically cut expenditures or put their currency on a float and let the market drive it. This is their survival. Then again this period also, other Iraqi economists and financial experts also talked about the currency auction corruption. Then we hear the CBI deny it all. Amazingly enough then we get an article soon afterwards telling us that al-Kazemi is making many drastic changes in high level personnel positions in the CBI. Go figure?
We also heard just recently that the governor position is up for grabs too and it is just a matter of time before they select and announce the new director. Then on Monday this announcement came out and I quote: “after the appointment of a new governor of the central bank … earlier in the day, prime minister Mustafa al-Kazemi made changes to senior positions, the most prominent of which was the appointment of Mustafa Ghaleb al-Kitab as governor of the central bank instead of the previous governor, Ali al-Alaq.” This is WOW news! If these events were a piece of clay, we would see them molding Iraq into the necessary reforms that need to take place and get us to the bank.