As I have said for the past 5 years the RV equation was, and still is GOI + HCL = RV.
We can now expand "GOI" to include everything we have seen accomplished by Abadi's new government over the past several months of its existence.
We can safely say that the difference between Maliki's GOI and Abadi's GOI are as radically different as night and day and everyday we are seeing that difference become more and more pronounced as we draw closer to the event we are all waiting on.
Having said that we are still one element away from the conclusion of this event. That is, the conclusion for us...and the beginning for the country of Iraq.
That still missing element is a completed and fully implemented Hydrocarbon Law (HCL).
The recent HCA (Hydrocarbon Agreement) is no substitute for the HCL and the PTB will never settle for less than the full deal.
The full HCL has a myriad moving parts that are much more complex than people imagine and is the reason for what seems like a delay but is only the dotting of all the i's and crossing of all the t's such as the SOMO component and how Kirkuk oil is implemented into the entire equation.
The good news is that the very best minds in the economic world are currently there within Iraq putting this much anticipated agreement together
Starting with the limiting of the auctions and several other strategic actions as a prelude to changing the currency regime and Abadi...went on record as saying he feels it (HCL) along with all the other finishing touches (Investment Laws) should be ready to officially roll out next Thursday the 12th of February which we are being told will officially start a preset timer counting backwards to the reinstatement of the Iraqi dinar.