Kaperoni "Down to 4 days to meet compliance." 6/10/18

by roxy22222222 Sun Jun 10, 2018 10:12 pm

Down to 4 days to meet compliance.

Some good news today if you call it that, it looks like the manual recount is only going to take about 10 days and not 3 months as originally predicted. Personally I don't know what the desire for manual recount is for. It's not going to change the outcome of who becomes prime-minister because that is based on political blocks unifying to form an alliance. At best, a political block may pick up a seat or two in parliament. But all this nonsense has been initiated by al-Maliki and his block and Salim Jubouri the parliament speaker who both lost pretty handily in the elections. What also appears to have happened is in the last day or so a large alliance has been formed consisting of a majority of parliamentary seats. This Alliance does not include al-Maliki or his state of law coalition.

So if we're waiting for the formation of the government to occur before any kind of monetary reform can go forward, it looks like we might be waiting an extra month or so. I think we were all hoping for the formation of the government to occur by the end of June and to coincide with the cbi's three-month IMF requirement (June 15 or so) compliance but that looks like it might be pushed back until the end of July or August. If so we have to hope that the CBI can continue to maintain spread within 2% or less for that duration. In the meantime I am looking for some news that would indicate that the IMF has scheduled their Article IV Consultation with Iraq. I believe this will occur at the same or about the same time as the CBI's begins monetary reform.