Kaperoni sticks with February 28th date.

by **Ponee** Fri Dec 12, 2014 9:42 am

Newshound Guru Kaperoni Article: "Zebari: the dinar exchange rate remains stable" Quote: "so our priority at this meeting to give a comprehensive picture of the economic and financial reality of Iraq" https://www.dinardaily.net/t38732-the-dinar-exchange-rate-remains-stable?highlight=the+dinar+exchange+rate+remains+stable
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They are sure making a big deal about currency stability. Why do you think that is? Because the IMF demands that they meet the 2% spread for compliance. We all know Iraq tries to get things without doing the work. Does everyone remember Iraq called for removal from UN Chapter 7 for over two years before they actually meet the conditions?

IMO, this is the same thing...the IMF said....your doing good, but your 2.6% and that is not good enough. And the CBI went..shucks. Now the hype is starting to try and bend the rules. Unlikely the IMF will give an inch, I stick with February 28th date...BTW, November 24th the market rate dropped to 1198. So technically, the countdown could begin then and end February 24th. To be sure, I am giving it the full month.

Believe me the CBI does what the IMF says. One way or another, they do it...as for 90 days. Here is the fact...the IMF charter clearly states a member country must hold the 2% for 90 days. This is in Iraq's best interest as the magnitude of failure could be catastrophic if they do not know what they are doing when they go to Article VIII. That being said, I have not found it written in any document "specific" to Iraq that I can prove it. Could there be a special arrangement? Sure...do I think there is? No. 90 days.