Swisher1776
@swisher1776
IQD RV: IRAQ PAYS DEBT TO CHINA AHEAD OF FINAL BUDGET MOVES
Iraq just approved settlement of outstanding payments to China Machinery Engineering Corporation for electricity operations and maintenance covering 2021 through 2023.
At the same time, power purchase agreements are being renewed under existing terms.
This matters because governments do not clear multi year arrears unless they are normalizing accounts ahead of the next phase.
Legacy obligations are being cleaned up, contracts are being honored, and non USD trade partners are being settled properly.
Paired with tighter bank capital rules, non oil revenue finalization, and customs reform, this continues to point in one direction.
System cleanup first.
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E*******n next.
Source(s):
https://x.com/swisher1776/status/2010534286827389356
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