_3-13-2012 SWFloridaGuru: Tomorrow Maliki visits Kuwait to resolve the remaining chapter 7 issues and agree on reparations which Kuwait will then use to invest back into Iraq.
Ban Ki-moon (UN sec gen) has mobilized UN support for the democratic transitions in the ME and is going to be in attendance at the Summit on the 29th.
We believe this is a great opportunity for Iraq to be released from chapter 7 and enter the WTO with full ascension. To become full members of the WTO article VI stipulates that a county must have a convertible currency.
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_ Implementing phase 2 of Iraq's currency reform, deleting the zeros and raising the exchange rate is the only remaining step to meet these requirements according to our sources.
We've seen more of Iraq's debts forgiven recently in addition to what we saw last year with the Paris Club agreements which wrote off nearly 80%.
We believe a bargaining chip they have been using is the revaluation of their currency with countries who have large holdings.
After the foreign investment law was passed it's now legal to do business in Iraq and they have seen an influx of foreign companies and businesses seize this opportunity because, like us, they realize Iraq's potential.
There has been a lot of talk lately about progress being made with the HCL and reports that agreements have been reached on revenue sharing among the different regions in Iraq.
All of these issues are being addressed this month and culminating at the Summit. This is the best chance we've ever had for an RV