OOTW

THE GOI WANTS TO STOP THE CURRENCY AUCTIONS, TRYING TO INTERCEDE CBI POLICY/ MONETARY PRACTICES –

THE SLC IS BLOCKING THEIR ATTEMPTS.

YESTERDAY THERE WAS AN ARTICLE WHICH STATED THAT THE GOI COULD AMEND CBI BANKING LAW BECAUSE IT WAS NOT INGRAINED IN THE CONSTITUTION, IN ORDER TO TAKE OVER CONTROLS OF THE MONETARY POLICY.

THERE WAS AN ARTICLE YESTERDAY… WHEREIN I BELIEVE SALEH WAS QUOTED AS SAYING THAT BECAUSE THE CBI BANKING LAW IS NOT PROTECTED IN THE CONSTITUTION, NOR WAS IT A PART OF THE CONSTITUTION, THAT THE LAW COULD BE AMENDED BY THE GOI.

WHETHER WE ALL AGREE THAT THE GOI DOESN’T HAVE THE RIGHT TO INTERFERE IN MONETARY POLICY, THEY DO HAVE THE RIGHT TO SEAT PEOPLE ON THE BOARD OF THE CBI.

I FEEL THERE IS A STRONG POTENTIAL THAT THE ECONOMIC COMMITTEE WILL FORCE THE ISSUE WITH THE IMF NOW IN ON THE GAME.

THIS IS A MANDATE.