5-31-2015 *Kaperoni

[Vixen]

5-31-2015 *Kaperoni ~It is hard to imagine under the current conditions (decisions of the CBI) that they would be exiting the peg and moving to the float exchange regime in the near future. They are still trying to solve the remittance issues, foreign currency sales, market rate spread, smuggling, money laundering, counterfeiting, etc. Monetary policy is not good right now and IMO not conducive to reform. It's almost like they are on a sailboat with torn sails and high winds trying to just hang on. The term "disorderly" is clearly apparent. With all that being said, there is a strong case for urgent reform and we will have to just wait and watch to find out. The 2015 IMF Article IV Consultation comes out mid to late July.