MarkZ
[via PDK]
there are some things out of Iraq that should make us feel good today...“The President of Iraq approves the 2024 budget schedules” Rashid approves a number of laws including the 2024 budget tables. My contacts over there are saying they got the budget tables posted in the Gazette…but did not get a new rate. They let us know that they figured the budget of 2024 on an average price of a barrel of oil at $80 USD. This is progress.
Something fun popped into the news yesterday...both from banks and exchange locations in Iraq. There was a notice that they are expecting distribution of lower denomination bills in July.
Both of the confirmations I received this morning from contacts on the ground inside of Iraq used the same words that they were told to expect them to distribute/disperse lower denominations in July. That tells us how stinking close we are...Why would they need theses lower denominations unless the currency is worth more? ...
..I do not believe there is a new rate in the Gazette this morning. I am not expecting one till Wednesday. I have heard that Sudani has signed off on the budget and it is supposed to be headed to the Gazette. There was some hope it would be printed this morning.
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