No HCL shepherd, no verified PM. Iraq is putting together the political end—no HCL, no rate, no RV. The financial end is being put together by the US. Cabinet unlocks HCL by May 27. The rate is unlocked by HCL. In May, the rate enters the US plumbing finishing market. Reserves-protection is the CBI’s “working in silence” stance, which is the same stance al-Alaq used in 2014 when things got tight. It states that the bank is preparing the balance sheet for whatever the government approves.
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