BGG thinks -- It can happen any time and between now and the 1st of the year is an opportune moment.

by **Ponee** Wed Dec 10, 2014 9:31 pm

BGG Maliki left Iraq in worst financial shape than anybody realized. It's just coming out how much the DFT Funds he spent and how much of the CBI reserves he spent. He couldn't have done that without an insider. This is not necessarily bad news for us. It is not necessarily going to impact us anymore or less than it was going to. I think they are going to deal with him before too much longer. The current PM is doing everything we had hoped Maliki would have done. [What are your thoughts on the dong?] I doubt that it is concurrent with the dinar. I don't think the dong and the dinar are interrelated. [ It would Iraq very little good to revalue at 1/10 of a penney, 1 cent, or 10 cents, but should come out something like what it was prior to the war?] Conventional thinking, yes, however, because of the current situation in Iraq, it's not impossible to believe that they wouldn't do something like an introductory rate & I think it will be a managed regime, not a float...they will put it where they want it and do something with it later.

[I heard it need to be close to Kuwait's rate?] I think sooner or later that's probably a goal but I don't think that's going to happen immediately... What Maliki did is a double edged sword. It will probably move thing along sooner but it probably won't be as much. [Are we looking at 2015 before the exchange will take place?] There may be one more major artery of influence from Maliki in the CBI and that may be a potential problem and once that is out of the way...but they need it now. It can happen any time and I think between now and the 1st of the year is an opportune moment.