Petra

  In Petra 

A week ago Saturday I think they realized the clock was ticking down and they had to get that budget done. IOO the budget is done and we’re just waiting on the rate. Now all the outside pieces are coming together with regard to international activities…and all the efforts to make Iraq come out of the gate absolutely running a million miles an hour.

The IMF forced the rate down to 1460. I’m of the opinion, that started the clock ticking.  Because they can only keep the rate down for so long until it really impacts the entire economy of Iraq. But they did it for a reason. The white papers do not work at 1460. The white papers do not work at 1190. They don’t work at a program rate. The white papers work at a 1 to 1 or greater.