Hi folks,
Over the past two years, I have always said that nothing will happen with Iraq's currency without the two Government banks correcting their balance sheets and getting re-capitalized. Based on some recent information from their law library, posted June 15th, the recapitalization has been approved by the Council of Ministers.
This becomes exciting for two reasons:
Below I've provided the links and proper data from the IMF and World Bank documents.
CLICK ON IMAGE FOR FULL SIZE VIEWING
Enjoy,
Scooter
Over the past two years, I have always said that nothing will happen with Iraq's currency without the two Government banks correcting their balance sheets and getting re-capitalized. Based on some recent information from their law library, posted June 15th, the recapitalization has been approved by the Council of Ministers.
This becomes exciting for two reasons:
- This completes a CRITICAL BENCHMARK set forth from the IMF and World Bank back in 2006.
- If the balance sheets are corrected and the devaluation of those two banks occur, then the government and the world can re-capitalize those banks to the appropriate levels. This becomes incredibly important when determining valuations and providing proper transparency to the international community -- international transactions, investments, loans, etc...
Below I've provided the links and proper data from the IMF and World Bank documents.
CLICK ON IMAGE FOR FULL SIZE VIEWING
Enjoy,
Scooter
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