KTFA
Article: Details of the financial deficit financing law in Iraq
AZPatryot » November 12th, 2020
Still 1182...it seems as though a real or new rate would be a part of this for prosperity reasons would if not? What’s the point of educating the citizens if it’s just going to remain the same?
DeepWoodz » November 12th, 2020
Imo.... So they didn’t show the new rate in this set of papers, doesn’t matter. These are not the white papers and no one is going to beat the CBI to the punch.
JJimmyJJ » November 12th, 2020
What has been the mantra for years? The CBI is in control of the rate! They certainly aren't going to allow the den of thieves known as the Iraqi parliament to make the announcement!
The GOI and the CBI needed this law passed so they had this piece of the plan in place (the IMF and Fab 4 were requiring it to allow them to borrow any more money from outside Iraq). IMO.
IMO, this law was the starting pistol, but it is up to the GOI &CBI to start running.
Also, it had always been said that the rate change would be seen in the CBI site and forex first, and that it was likely to come out on a weekend when the banks were closed.
IMO, everything is now done, and they got it done in time for the GOI and CBI to roll it out before the end of the month (hopefully this weekend(!), but what do I know?).
The important thing, I think, is that it is done and the fab 4 are happy, that there is a sense of urgency sufficiently strong to get them to do something unprecedented, and that now the announcement can be made per their schedule.
This is a glorious day!
JodysAngel » November 12th, 2020
The Borrowing Law has to be signed by the President and put in the Gazette before the rate change can take effect.. That is the next step Frank and Eddie was talking about that would happen between the 14th and 21st. We hope it Should happen next week. IMO
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