Article: “International Monetary Fund agrees to release contractors’ receivables”
Quote: “The appearance of Mohammed Saleh that the second review of the credit agreement showed a clear understanding and success…This success is the understanding and agreement on the release of receivables of all contractors amounting to more than 4 trillion dinars once the Federal Audit Bureau announced the completion of audit contracts contractors, and we know the SAI is about to complete this process.”
[Why is this huge…?]
To me, it’s huge because the world is throwing cash at Iraq, and that’s a great sign.
Means the world thinks Iraq is about to turn the corner.
With $9 billion of the $18 billion released two weeks ago going to pay off Kuwait, they should be out of the final Ch. 7 sanctions shortly, and now, the contractors can get back to work.
That this is all happening right at the same time CBI has stopped published the market rate for the dinar, I think, it also no coincidence.