"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 3 MAY

  Frank26  

 [Iraq boots-on-the-ground report] 

  FIREFLY: Some guy on television talking about advantages that we as Iraqi citizens are going to have with a fixed exchange rate pegged to a stronger currency.  He says Iraq now has a soft peg and...the float is not necessarily as a fixed rate... 

FRANK:  The monetary reform education is explaining the reason why you don't need a basket...They are also expressing you don't need a float.  That's because your reserves are so powerful...But IMO the float will occur because it needs to reach the real effective exchange rate of your currency on an International level.  

They are also trying to explain to you you do not need to be pegged to any currency, not even the dollar.

 FIREFLY: Saleh is saying the start of implementation of the government and banking reforms has started. 

 FRANK: Woohoo! ...The new exchange rate is the pivotal role they are about to give them...