6-18-2015 *Kaperoni

[Vixen]

6-17-2015 *Kaperoni ~Article: "Dr. Haider al-Abadi, Save the monetary sector, it is the last remaining of the sustainability of the Iraqi economy!" Abadi is as frustrated as we are..and his statement implies Allaq is intentionally destroying the economy. Makes you wondering if Maliki is behind it. I only see two possible corrective actions... 1. a long gradual correction of the market rate by reducing the spread liberalizing the sale of dollars through the auctions. This will now take months to correct since the spread is almost 20%. Or 2. get off the peg and correct it with a float. I think back to the IMF doc..."from fixed to float" ..we may be seeing preparations for a disorderly exit.