So as investors where do we stand with the RV?
Based on this information from my Saturday call to Iraq, I will summarize it for you. We are still waiting for the US to give assurances. The project to delete the zeros was scheduled for June and we will still have a week remaining in June. This is all I know and can tell everyone at this point. But don’t go off too excited and forget all the other information my contact just told us either. You must put everything into its proper perspective.
Will this be held up until January 2025?
I can’t say and how should I know for certain. This is not a fair question as I do not control the process. You might also be thinking if we have to wait until the end of 2026 as their new phase, the 3rd phase of their strategic plan of reforms is now kicking in. You can go read the full article too in the Articles Section of today’s Newsletter. But I will tell you that I was told last month that for us to see the RV, there was only two phases and that they were completing the 2 nd phase in June. So go figure… What would you now think? Do I have to spell it all out for you again?
What else is in the news?
So, let’s talk about this strategic plan of the CBI for the economic and financial reform. In the recent news, and I quote from the article – “Samir Al-Nusairi, advisor to the Iraqi Private Banks Association, confirmed that the Central Bank’s third strategy has drawn up a road map and programs with clear goals and initiatives for a period of three years in a special, complex, and risk-filled economic and financial situation”
This Central Bank’s third strategy is for the years (2024-2026), which began in June. They say thisnew part of the overall strategy has drawn up a road map and programs with clear objectives and initiatives for a period of three years (but really it's’ only two and half years). I am almost certain the CBI will come out with a further explanation and details of the phase 3 in the coming days. Stay tuned.
..TO BE CONTINUED
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