[SWFloridaGuru] Well, the day we've been waiting for is finally here and I don't think it will disappoint. Ban Ki Moon made the statement today that Iraq has come back strongly into the international community and that he will push to see Iraq out of Chapter 7 and with that a return to a state of normalcy.
The UN Secretary General went on to say that this visit has shown him the great strides Iraq has taken to become more secure, stable, organized and sophisticated compared to his previous visits. He called for Iraq to regain their role both regionally and internationally. To do this Iraq needs to have a tradeable currency and be removed from Chapter 7.
Ban Ki Moon does not have the power alone to release Iraq from chapter 7 but he is the chief administrative officer and serves as their spokesman.
[SWFloridaGuru] In other words, his views are their views. Ban kI Moon has made it clear he supports Iraq and in accordance with the relevant provisions of the Charter of the United Nations, a decision from the Security Council will be made by an affirmative vote of the members of the Council including the concurring votes of the five permanent members (China, France, Russian, U K of G B and N. Ireland, USA).
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I believe this process will be accelerated due to private negotiations that have taken place between Iraq and the UN. Chapter 7 has been an embarrassment to Iraq and a tool used by the UN when diplomatic measures have failed. They will not give up that chip until the CBI follows through with raising their exchange rate. The exact timing of when a new exchange rate will be sent from the CBI and then released from the BIS and revealed publicly, is anyone's guess but clearly, we are close.
[SWFloridaGuru] CM2 Among many other things. Entering the WTO with full ascension, Chapter 7 sanctions lifted and becoming an economic and political leader in the region and internationally once again.
It's a very involved process and after decades of war, having to completely rebuild their infrastructure and banking sector it appears we're finally in a position to see CBI pull the trigger and see the project succeed.