On the plan to open the economy in early March along with the new port…I still can’t see them doing any of this without an international currency.
The IMF is gearing them to go to Article VIII in March.
Also all the recent talk upgrading upgrade the CBI governor to someone who has an education and experience right at this moment.
Not to mention the IMF’s statement that Iraq will seek to join the world economy in the first part of 2016.
The speed at which they are attempting to remove corruption (the old guard) from the government as if someone or some group is trying to make this change do to some schedule.
As far as the value of the dinar, I have always believed that we have only partial facts. That is intentional I can assure you.
I think the CBI’s reserves are much higher than they report to this day.
This would affect the value of the dinar times 2 and some change.
So I believe the rate they will do has the potential of being higher than just delegating 3 zeros.
We have all though that when you remove the leading zeros it meant 86 cents, but truth…without further details it could mean 86 cents or any number above that.
It only latterly means THOSE ZEROS WILL BE GONE ONCE DELETED. It doesn’t necessarily tell us anything else to help us determine what that rate may be.
The delete the zero program was envisioned as far back as 2006. That’s now 10 years ago.
At the time the reserves were around 30 billion… In 2008 the CBI commissioned the strategic study with plans to delete the zeros in 2010.
The study concluded at that time they could support 1.13 dinars to 1 US dollar. A lot has changed. So what’s the number today?
I have a cluttered and prejudice thought process when it comes to the rate. I think it will in the higher rather than lower range.
