firefly: Article quote:
“Governor Ali al-allaq said in March that the new Bank is that the auction is no longer a daily window for sell by auction, noting that new mechanisms developed to sell the currency, particularly the functional currency of the foreign trade.” the discontinuation of the daily currency auctions…Must happen.
The only thing I’m looking at is the Auctions…PERIOD, END OF STORY. Nothing else matters…The auctions are for buying the USD. They have to get the USD off the streets! No way around it.
When it is completely halted…then IMO we should be expecting the LDs to hit the streets as well. I’m pretty pumped to tell u the truth.
[Could they give the citizens more purchasing power without going international immediately?]
wmawhite: The only way you or I or an Iraqi citizen can receive more purchasing power is for the costs of goods to decrease…go down in price…because Iraq imports 90% of their goods, an increase in the international value…will bring those prices down.
However, the IMF must give its “Good House Keeping Seal of Approval” which is Article 8 first.
Without it the world’s financial institutions would probable avoid it.
There are many changes happening now monetarily in Iraq but IMO, as soon as the IMF offers the CBI Article 8, the CBI will make the jump and with it we will start to see the true value of the IQD appear outside of Iraq.