PompeyPeter
The contracts are done in the country they're done with. If contracts are being done with Italy, France, Germany, they're in Euros. Great Britain, they're in pounds. U.S. obviously dollars...When the rate changes that's when the Iqd rate to the equivalence of the local currency becomes relevant. In other words, they're not going to be paid at 1310.
If for one second the new rate had been shown the Council of Ministers, the parliamentary Finance Committee or the House of Representatives we would have heard them singing and dancing and cheering from Iraq. We certainly would have seen it from the CBI first.
What happened then?
...As they've said, the amendments were viewed and passed by the Council of Ministers, the amendments of the 2024 budget were then passed to HOR via the Parliamentary Finance Committee...We definitely know the rate hasn't been exposed.
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