FRANK26 POST - KTF Missions

The same lawyer that told us last week that the Exchange Rate Mechanism would go into effect on the 12th is now saying that next week will be crucial in finalizing the budget. IMO………he is telling us that the missing ingredients of the 2010 budget……which have been missing for some time now apparently have come together. IMO………where we feel that the budget has been delayed…….it is highly possible that the budget was missing some teeth so maybe………..just maybe………..the ERM will not be applied tomorrow but in a few more days. Underneath that article……..pay close attention to how the GOI has received 7 trillion dinars from the IMF to cover its deficit. All they wanted for Christmas was their two front teeth. IMO…………this loan has filled in the gaps necessary for the 2010 budget to be released as soon as possible and especially before the 31st of this month. No…….NO !!! that is not a date for the RI so please don’t bring that up with me! Take note that all these articles which say that the IQD’s exchange rate value is improving and going up and competing against the dollar are everywhere! Why do they keep talking so positive about their currency value when it stinks in value? IMO the passage of the budget has been calculated with the new rate and their emphasis is now focused on getting the budget passed. A week from today on the 18th will be exactly one year that the IQD has held its STABLE position as a currency. It was a requirement for them to graduate to a currency recognizable and accepted by the banking community. This loan will also back up the RI financially.