2-19-2018 Newshound Guru G-Lin "Economist shows the most important "problem" facing investment in Iraq" The news currently is scarce and most of it is propaganda...Being an election year in Iraq, it is hard to tell the honesty in most arts. It is time for Iraq to act on their economy however. And floating their dinar may be a life saver. I think it would give the investors a little bit of confidence that seems to be missing. They really need to do something at this stage. We shall see.
2-19-2018 Newshound Guru Don961 Seems like someone is in control of this total process ... in every aspect ... and things are falling into place all over in every way for Iraq's currency ...imo.
2-19-2018 Newshound/Intel Guru BGG Article: "COMMITTEE OF ACCOUNTABILITY: ANNOUNCE THE NAMES OF 5,000 PEOPLE INCLUDED IN THE SEIZURE OF FUNDS THIS WEEK" Funny how that works...about one day after they realize the world isn’t going to “give them” anymore money, they go back and think about getting it back from the crooked politicians who’ve been stealing from the GOI and the people of Iraq. According to recent estimates, they could collect as much as 500 BILLION (USD) back to the state treasury by enacting and enforcing simple legislation they’ve had in the works for some time now. P.S. as reported in major OP ED’s in Baghdad recently, Maliki and his henchmen had better wind up on this list…It is critical to Iraq’s long term success to get a handle on the endemic corruption.
2-18-2018 Newshound Guru chattels Article quote: "Foreign exchange markets in Baghdad, on Sunday morning, a significant decline in the exchange rate of the dollar against the Iraqi dinar. The market price in the Kifah Stock Exchange in Baghdad was 1225.5 dinars per dollar, ie 122 thousand and 550 dinars per hundred dollars." [... if the exchange declines...will that reduce the spread?] Yes, a 2% spread or variance requires that the Dinar market rate be about 1202. [NOTE: other gurus calculate the number needed for the 2% compliance to be 1207]
2-18-2018 Newshound Guru mike Article: "Invest Iraq conference" concludes in Kuwait" For sure, this conference did not live up to the expectations that folks were screaming about before the event. This was planned for months prior to the February 12th, Abadi was counting on this to aid his bid for a second term as PM, which is why these tepid articles about success are beginning to come out. He has to spin this in a way that serves his purpose. Pledges and contracts in the ME are not the same as cash in hand. Iraq won't manage any of the funds the Sunni countries put towards reconstruction, these will all be managed by the WB and IMF.
2-18-2018 Newshound Guru mike The math on this is super simple...they received roughly $1.5 billion in cash, that's it, a far cry from the minimum $88 billion estimated to rebuild Anbar Province. Many articles spoke to these businesses in Kuwait for the conference but were reluctant to jump in because of the rampant government corruption and difficulty to operate in Iraq. Abadi has got to get a grip on the corruption, pass the laws for economic growth and get his country's currency in line for international acceptance before anyone's putting real money into this country outside of the oil industry. Hoping for large contracts that may start at the beginning of 2019 isn't the answer we're looking for, Iraq needs help and action right now, today. 2.5 million people are displaced and have no home.
2-18-2018 Intel Guru RayRen98 Jabouri is indicating that the budget will be complete in one week...While at the Security Council summit in Germany, Abadi being under pressure, agrees to getting it done...The Baghdad/Erbil crisis comes to an end at the National Conference! The Kurds are happy with the results of the Article 140 debacle and are agreeing to cast their vote. Now, let's bring on this budget and move on...to the public release of the new rates! Yeah!!
2-18-2018 Newshound Guru chattels Article: "Invest Iraq conference" concludes in Kuwait " Perhaps the conference was not the failure it appeared at first blush, but we may not know until 2019 + and how Iraq will make progress on the problem of corruption remains to be seen also.
2-18-2018 Newshound/Intel Guru BGG ...I am assuming those opposed to corruption and the corrupt processes...are putting pressure on the first group to do something, other than just fish around for free money. Such is noted in the above article. On a side note, and relating to “fishing around” for free money...there did appear to be something of a start to rounding up corrupt political figures in an effort to reclaim “ill-gotten gains”. As an additional note: Reported in Baghdad recently, it is implied such a push must include Maliki and his henchmen if such a move is to be recognized by the world (and Iraqis) as a genuine effort. While a float may or may not be what they (or you and I) had envisioned, they just may well do something like this before they do nothing at all. ...I don’t really care how it starts...just that it does and they GET TO IT!!
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