Stryker Blog - 6-30-13

by **Ponee** Sun Jun 30, 2013 1:07 pm

Last day of June and what has it brought us and where could July take Iraq and us investors in the stock of the country called Iraq?

To refresh everyone's memory, here are my June points from my 06.25.2013 Blog but I will first address the ones not covered then:

· Chapter VII removal took place last Thursday by a unanimous vote of 15-0 that was
followed up by a speech from Iraq's Minister of Foreign Affairs Zebari.

· The World Bank Iraqi Trust Fund closes June 30, 2013 (today) titled the Banking Sector
Reform Project. It went into effect April 2009 with a cost of $10 million and a specific
plan to restructure the two stated owned banks. Once completed Iraq would need to
revalue their currency against their foreign currency according to the IMF. Then the Iraqi
authorities would then be allowed to meet their benchmarks set forth by the IMF Stand-by
Agreement (SBA).

Go here to read all the Strategy's that focus on the four main components which all include these two state owned banks:

http://siteresources.worldbank.org/IRFFI/Resources/BankingSep2010.pdf

Here are the ones that I went over on the 25th:

· The Iraqi Government announced on Monday June 10th, the formation of a Joint
Committee of the ministries of finance, planning and the Central Bank to adjust the
value of the Iraqi dinar against foreign currencies and prevent slumping.

· All the necessary memorandums of understandings between Iraq and Kuwait
have been signed when PM of Kuwait al-Mubarak visited PM of Iraq Maliki in
Baghdad earlier this month.

· The formal letter that was needed for the UN Security Council to consider releasing
Iraq from Chapter VII and all sanctions imposed on Iraq since 1990 has been delivered
by the Kuwaiti’s to Washington, DC.

· Secretary General Ban Ki-moon has endorsed the release of Chapter VII and
recommended Iraq’s release by months end.

· Parliament voted in the amendments to the Coalition Provisional Authority Order No.
(87) for year 2004 which is everything needed for Iraq’s accession into the World
Trade Organization.

· 2013 Fiscal Year Budget Supplement of $14 billion dollars to be implemented July 1^st.

· The Federal Government of Iraq and the Kurdistan Alliance have produced a draft law
on oil and gas under which the royalties will be distributed among the provinces in
proportion to their populations.

· The electronic systems are up and running at all the border crossings both for the CBI
to track funds but that now enables the remaining Tariffs Law implementation to go
forward.

· PM Maliki and Speaker of the House Najafi have worked out all their differences and
have agreed on the Parliament and the Federal Government to resolve all issues and
pass all laws for the country and its citizens.

· Signed by princes and the elders of Iraq tribes signed the Charter of the national
honor to agree on a set of contexts essential that preserve the unity of Iraq's land and
people, and establishes the principle of co-existence in the same country, and deny
Iraqi blood, and renounce all practices that attempt to split a row of national unity and
undermining them.

Related links to help you understand where I am getting my facts from:

· http://www.iraqcoalition.org/regulations/20040516_CPAORD_87_Public_Contracts.pdf

· Baghdad and Kurds said to reach agreement on oil development and royalties

· Stryker Blog 06.18.2013

· Economic: activate the tariff and legal protection of the domestic producer would enter Iraq to world
trade
· Baghdad has fulfilled its obligations and pending international emancipation of the items

· Central Bank supports electronic control system with the border crossing points

· Confidential consultations to arrange a new meeting between Maliki and Najafi

· Ki-moon seeks to obtain a positive decision from the Security Council conveys Iraq to Chapter VI

· Kuwait/Iraq Chapter VII Articles for the month of June

· The Iraqi Government formed a Committee to set the value of the Iraqi dinar

· http://stryker10.forumchitchat.com/post/Iraq-tribes-signed-the-Charter-of-the-national-honor-
6397400

· Paul Franck: conclusion of economic agreements with the EU would serve the Iraqi economy and gain
experience

As I see it, Iraq Parliament may still need to approve the 2013 Fiscal Year Budget Supplement before they can implement their currency reform or it could start as early as tomorrow. Either way we will just need to wait and see unless they have already approved it and I missed it. No matter what I really believe, they are getting close.

With Parliament due to return on Tuesday it is sure to be another drama filled week.

Have a great day and try to stay grounded,

Stryker