I have no explanation for the NEW 3 zero notes...it's not smoke, it's listed on the CBI site informing citizens...It is for that reason I believe there may be a "short window" to exchange our 3 zero notes at a high value... "a reinstatement rate" ...then come 1/1/2015 a lifting of the 3 zeros... BUT THIS IS ONLY MY OPINION OF ONE POSSIBILITY.
Confirmed a report by the International Center for development studies, based in London, the Iraqi budget deficit poses a clear threat to the economy of Iraq, according to the report, the deficit exceeded $50 billion so that Iraq would be at risk of bankruptcy, Iraq will be unable to pay the salaries of its staff seems to be indicators of bankruptcy is looming on the horizon. So Iraq NEEDS TO PASS THE BUDGET! And to purchase imports their collective major export has lost 40% in value...BUT THE GOOD NEWS IS THEIR CURRENCY IS WAY UNDERVALUED... AND THEY CAN OFFSET THE 40% AND HAVE MORE IMPORT PURCHASING POWER BY SIMPLY... RAISING THE VALUE OF THEIR CURRENCY!
I expect the Budget to be in Parliment Tuesday or before...I did read they said it would be next week and would be read and then voted on...could be translation or could be they had a reading and this would be the second draft and read then vote...they have have not been real clear on 2014-2015 budgets and how it works legal wise...But again 3 different articles lead to a read and vote...could be Sunday...They have said before the 15th also.