Iraq an economic Study

We got some interest from the Swiss trading group a few days ago. Now, we're going mainstream, folks.

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[link to www.cnbc.com]

Outlook upgrade could help push Iraq's economic evolution to its next step
04.02.17

War-torn Iraq recently got an unexpected boost on its way to becoming an investment hot spot, which may take its next step sooner than conventional wisdom suggests.

Even as military forces wage a fierce offensive against ISIS, global ratings agency Fitch upgraded last month Iraq's outlook to stable, based largely on the country's improving public finances.

Yet as a marker for big institutional buyers like hedge funds and sovereign wealth arms, Fitch's vote of confidence could mark the start of a broader shift among investors about Iraq's long-term potential. The upgrade could be pivotal for a country still considered besieged, but considered by a handful of savvy market watchers to be a potential diamond in the rough.

"Some analysts say that investors believe that with solid oil reserves and other sectors to build upon, Iraq could have serious growth potential," said Stephen Simonis Sr., chief currency consultant at online currency broker FXDD Global.

"Clearly this can be looked at from either side, as the willing investor will point out the huge risk/reward possibility as the upside is very enticing," Simonis told CNBC. "

Yet Fitch's revised outlook could be a green light for buyers of Iraq's assets, especially at a time when smaller institutional and private investors are seeking long-term opportunities.

"Overall, foreign interest in Iraq continues to go through a transformational change in the eyes of global institutional investors," Ahmed Tabaqchali, chief investment officer of Asia Frontier Capitals Iraq Fund, told CNBC.

"It seems logical to conclude that this implies favorable interest in Iraq and that it would likely be followed by foreign direct investment and eventually by equity inflows," Tabaqchali said

[link to financialtribune.com (secure)]

Now this comes out. BackDoc on Frank´s site says Iran and Iraq are brothers and that their currency will go at the same time. If this is true then we gotta wait a few more years.

Link isn't working for me, but Backdoc is BS.

Incidentally, I think this is the first time it hasn't been imminent for Frank's site ever. Their dealer sponsor must think something is close.

I can't find any mention of Iraq in this article ?

Yeah it mentions the CBI and i,m assuming that's the Central Bank of Iraq?

Has Iran got a central bank with the same acronym ? CBI


From the Article.
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Executing currency revaluation in Iran by removing one or more zeroes from the rial will require conditions that will not materialize for at least another two years, the governor of the Central Bank of Iran said.

“We have had no directives in the Cabinet to remove a zero from the currency and that is not on our agenda,” Valiollah Seif also said in a talk with Mehr News Agency’s website.

He elaborated that CBI has sent a bill to the government, which is still under review and questioned the official use of rial known to the people as toman (minus one zero).

Abadi: Two months separating Iraq's exit from Chapter VII

Confirmed Prime Minister Haider al-Abadi, Tuesday, near the exit of the country from Chapter VII after we meet the international sanctions imposed.


"The next two months will be agreed with the United Nations to the country's exit from Chapter VII."



[link to almaalomah.info]

How long after that till they get into Chapter 8 ?

It's not "Chapter 8" they're looking for. You're confusing the IMF and the UN.

They are currently under UN Chapter 7 sanctions, and in an IMF Article 14 currency regime.

When they are released from UN Chapter 7, they are just a normal country, no articles or chapters at all to deal with.

On the IMF side, they are looking to be in Article 8, which is a normalized currency with no Multiple Currency Practice, or spread between the official rate and market rate.

Anyway, to answer the un-asked question which, I'm assuming, was, "When do they get in to IMF Article 8?" I think a lot of things we have been waiting on are going to happen once IS is finished, including Ch. 7 release, economic reform, national reconciliation, and a free-floating, higher-valued, international dinar. Abadi, himself, said, a month ago, he had to put his entire agenda on hold from the moment he was inaugurated to deal with nothing but IS. He has a reelection coming up, so he better get on with it once that's over.

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Iraq: Confidence is in the Air

April 5, 2017

At a major Iraqi business event on Monday, there was a strong sense that Iraq’s fortunes are turning a corner, with the Islamic State group (IS, ISIS, ISIL, Da’esh) on the retreat, and substantial export funding newly available for projects in the country.

More than 250 delegates attended the Iraq Britain Business Council (IBBC)‘s Spring Conference in London, with half of those flying in from Iraq.

Amongst detailed discussions on topics such as energy, finance and technology, several soundbites captured the overall mood of the conference:

The IBBC Spring Conference focused on the rising confidence of Iraq’s private sector, bringing to attention liberated areas open to investment, and discussing new areas for expansion, such as infrastructure and technology.

[link to www.iraq-businessnews.com]

Statement at the End of an IMF Mission on Iraq
March 17, 2017

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF's Executive Board for discussion and decision.


“The authorities have maintained the exchange rate peg which remains a key nominal anchor. Medium term growth prospects remain modest driven by projected flat oil production and investments in the face of the revenue constraint and modest pickup in non-oil growth supported by the expected improvement in security and implementation of structural reform. Further reforms to create fiscal space for inclusive growth, strengthen the business environment, reduce corruption and repair the banking sector are needed to support private sector-led growth and diversification of the economy once post- ISIS reconstruction is underway. Risks remain high, arising primarily from uncertainty in the oil price outlook, security and political uncertainties, and administrative weaknesses.

“The Iraqi authorities and IMF staff started discussions on the second review of the SBA. These discussions will continue during the upcoming IMF and World Bank Spring Meetings from April 21–23, 2017 in Washington, DC.


[link to www.imf.org (secure)]