Frank26 Once you see the HCL, when will you see the new exchange rate? **snap** [That fast].
Fnu Lnu [Post 1 of 2…..] Back in 2011, I was told by my attorneys, that the revaluation would follow the guide-rails set out by Dr. Shabibi. Dr Sinan Al Shabibi has quite the curricula vitae in that he…held a BSc in Economics from Baghdad University (1966), a Diploma in Advanced Studies in Economic Development, an MA in Economics from the University of Manchester (1970, 1971), and a PhD in Economics from the University of Bristol (1975). He was said to be an authority on The Marshal Plan, which in essence is what is happening in Iraq at this very moment. I was also told that the plan was to resurrect the pre-invasion Dinar valued at $3.22 or there abouts.
Fnu Lnu [Post 2 of 2] I was also told that Iraq would have no need of using the IMF model of baskets of currencies, of which an average is calculated, as that would drag down the IQD and raise up inferior currencies. In other words, a fixed rate, at least during the reconstruction/infrastructure phase. This was 13 years ago and time necessitates changes sometimes. It seems nothing is etched in stone these days but of the many things I was told in the presence of a UST agent and a couple other attorneys, everything they said at that meeting has come true so I’m going to stick with what has been dependable info. I am, however, a little surprised at the flood of info coming forth. I would have thought they would hold their cards a little closer to the vest. With that being said, never rule out the old trick of misdirection.
Militia Man Iraq has a meeting with the WTO according to the calendar…on or around the 18th of this month. What is it about? It’s talking about their accession process, whether that’s going to happen or not that day I don’t know but assuming that it’s moving forward it sounds like their accession is going to be imminent.
Frank26 The WTO, you don’t have to have value to your currency but it can’t have any stains on your currency. What do you mean by that? The Iraq dinar had sanctions on it remember – The United Nations Security Council, they put handcuffs on the dinar. They cannot be used internationally, it was on the OFAX list, you couldn’t touch it. It was Taboo...It cannot have any sanctions…restrictions. It must be fully capable of moving in the international markets…
MarkZ [via PDK] There are supposedly movement of Kurdish leaders in Iraq visiting Baghdad and the rumor is the HCL will be nailed down tight…done, done, done…and the announcement could be today.
Paulette Question: “Iraq is supposed to join the WTO this 18th of July, is that correct?” the 18th is the next meeting of the Steering Committee…the Full Assembly would have to vote to allow Iraq full accession…they are not scheduled to meet until early 2026…It would be extremely uncommon for a Steering Committee to only meet with a country 2 times after the initial meeting. 4 to 7 is the usual…this only the second meeting of the Steering Committee for Iraq.
Clare Question: “Iraq is supposed to join the WTO this 18th of July, is that correct?” IT WAS REPORTED ON IRAQI TV…THAT IRAQ WILL BE FULL MEMBERS OF THE WTO JULY 18TH.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: The Gazette, it’s been printed but with July 1 date and there’s no budget and no budget schedules in it. Maybe we have to wait for that appeal and the 15 days.
Mnt Goat [Post 1 of 2…..] The news is still concentrating mostly on bringing in foreign investors and they told us today that there was a two part plan, and this plan is now completed…The other part of the ongoing news from Iraq is still about the Parallel Market rate vs the Official CBI rate of the dollar…Saleh works with this issue daily and he is executing a plan. The plan takes time but Saleh says it is working and again tells us “soon” the parallel will equal the official rate…
Mnt Goat [Post 2 of 2] So the rate is slowly stabilizing as has now reached 1,220 from 1,320. The goal is 1,121. Folks this is not too far off…This is all good news…Am I telling you they will RV when it reaches their goal. Of course not but these rates adjustments tell us they can not hold this back much longer and even with their own criteria something must be done and done soon to bring the dinar to the international investment world and free it up…
MarkZ [via PDK] Comment: Let’s hope July 4th is “the Thursday”… MarkZ: There are a lot of rumors going around that this is the “go”…We don’t know. No one knows the timing.
