Highlights/Thoughts
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1. News is great today
2. Sharistani is trying to counter Maliki's comments
3. Sharistani has done a bad job. In 5 years, he only increased oil production by 200,000 bpd
4. Protets have been a huge success and the Iraqi people know this
5. Religious leaders are warning the GOI to take care of the people or face what is happening in Egypt
6. Saadi doesn't like Maliki and has said that all Maliki's appoints were losers in the ministries and retreads from his previous administration who did nothing but steal the people's money
7. 10 MPs want all of the Kurdistan government to resign and have new elections. This won't happen
8. CBI stated that 2 issues they tried to use to control the inflation have not worked
9. They are going to resort to using the monetary policy, which they said was to RV/remove zeros from the nominal value
10. They believe this would control inflation
11. The term inflation is not what we think
12. Inflation is the core inflation index. It is the tremendous amount of inflation that is in the paper currency
13. They want to reduce the amount of paper used to buy goods
14. The IMF didn't give them another 4.5 bil in USD for nothing
15. There had to be serious concessions by CBI and the GOI
16. No one will know what concessions were made
17. The best we got was when the IMF criticized the monetary policy
18. After they said they would remove the zeros, the IMF said great
19. Loans are all about assets; foreign currency assets held by the CBI and the assets abroad
20. The loan is not for covering a rate of exchange
21. Once the assets in the DFI are out of protection, Iraq can use those assets
22. The assets in the DFI, however, might be raided by those countries Iraq owes money
23. They need to pay back the gulf region 120 bil USD, and they owe another 240 bil in USD to the rest of the world
24. The 240 is not part of the paris club deal
25. Geithner's comment regarding an unexpected tax increase isn't for this tax year and is not likely related to the RV
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