Iraq has been accumulating victories over the past month that most people are unaware of. The long-delayed HCL (Hydrocarbon Law), which gives regions a say in oil revenue sharing while locking in federal control, has been hammered by political meetings between Sudani’s circle and Central Bank leadership. When that lands completely, it eliminates one of the main justifications for currency volatility and stabilizes budgets.The books are getting ready for re-rate mechanisms, so keep an eye out for further HCL ratification noise and any unexpected gold reserve announcements.
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