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Bruce -Amnesty Law passed. Looking for rate change to occur on CBI web site pretty soon.
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Re: Bruce -Amnesty Law passed. Looking for rate change to occur on CBI web site pretty soon.
Bruce
Mosul...has been liberated...they have had major success in that.
Saturday Iraq began to offer brand new Iraqi sovereign bonds...for sale. ...notice it was a sovereign bond offering. That means Iraq has their sovereignty back. It was offered internationally so they have an international known rate available for their Iraqi dinar and it is priced into their bond offering. That is big news...most significant news to prove Iraq was back doing business internationally.
What has been happening in Iraq? We know...the Reconciliation Act was to pass Sunday or Monday. This was something that had to be signed off by the IMF, UN, the United States government...
That has been handled. That doesn’t totally affect us on the timing of the RV, but a good thing to know. Also that occurred on Sunday was the Amnesty law...It has finally passed as well.
They have a new rate which is on their Qi cards/debit cards. Yesterday they started to pay not only the back pay at new rates, but also started paying a lot of other people in situations in Iraq upward of $4.25 and maybe somewhere close to $5. That would be a great international rate of the Iraqi dinar.
Also we have heard that the testing that was done yesterday on the Iraqi stock exchange ISX.
No problems, smooth sailing. We understand as result of the positive testing, that Iraq is to open their stock exchange, ISX, Wednesday morning at 9am Baghdad time. We understand that could be significant as far the timing of what it is we are looking for. Iraq has the rate. We are looking for the rate change to occur on the CBI web site pretty soon.
3-1-2017
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