2 under 50M and many other signs..
to sum up:
thats two unusually (?) low autions in a row, and no change in rate. CBI has hit the target rate, and demonstrated stability to themselves and the international community (dog and pony show its been called here).
new budget about to be introduced the "investment budget"
over 10Trillion out of circulation.
let us hope tomorrow brings the same: an under 50M auction and no rate change.
looks like this baby is finally drying up, had to happen eventually didnt it?
lord knows Iraq has enough foreign currency in reserves in the CBI, tons of Gold somewhere, and oil in the ground to bank whatever rate they see fit.
Security situation is improving, but needs an economic "surge" to complete the picture...
oh, and the stockmarket opening to foreign investors in June, with electronic systems for that and the banks in place.
Oil law now in front of parliament?
article 140 being finally acted on to happy the kurds into unblocking passage of HCL
i smell a reval cooking...
cheers all!