Article: “Iraqi dinar is not in danger and delete the zeros Postponed”
Quote: “the Iraqi Central Bank did not specify a date for the deletion of zeros from the currency dinar,” noting that “subject to availability of appropriate conditions, including the general stability in the country.” He stressed the central bank governor and the agency, the need to “ensure the success of the process of deleting the zeros requirements before starting out, so the central bank will continue technical preparations in order to be practical fit when deciding deletion.”
I don’t see anything bad in this at all.
The CBI must create the conditions for the project to succeed.
Time is not unlimited here…they need to get started before the market economy can launch.
That being said, I think the IMF stated just a week or so ago that the CBI only completed 3 of 9 benchmarks during 2016 as required as part of the SBA.
So like usual, the CBI is behind schedule again.
The good news is they are making progress, and they are implementing the requirements.
I would expect that we are at least 3-6 months behind schedule at this point, but the CBI is not going to announce when they are going to get off the peg and float.
And knowledge of moving from Article XIV to VIII will not be announced in advanced.
We need to just watch the progress, let this come to us.
It will happen..because there can be no market economy without it.
