NORV [aka Guru Kaperoni]: "They must maintain this for 90 days or more in order for the IMF to accept their request to move to Article VIII" (Oh No! Not Another Bogus 90 Day Countdown! LOL) 12/20/21
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NORV [aka Guru Kaperoni]: "They must maintain this for 90 days or more in order for the IMF to accept their request to move to Article VIII" (Oh No! Not Another Bogus 90 Day Countdown! LOL) 12/20/21
by RamblerNash Wed Dec 22, 2021 12:52 am
NORV [aka Guru Kaperoni]
...The 2% rule is based off the official CBI rate (including fees) not street rate. Take the 1460 x .02 and you have the max street rate within the IMF rules. So 1489 is the rate. They must maintain this for 90 days or more in order for the IMF to accept their request to move to Article VIII. The point being price stability. Cost of goods should not vary throughout the country (this is what MCP is) many gurus don't understand and think MCP is different currencies (like dinar and dollar). Iraq will always have dollars in Iraq as long as they sell oil. For example. A new washing machine should cost 430,000 dinar in Baghdad +- 2% and same goes for Kurdistan. Iraq needs to prove they can maintain this stability before they can engage with the global financial system.
...The 2% rule is based off the official CBI rate (including fees) not street rate. Take the 1460 x .02 and you have the max street rate within the IMF rules. So 1489 is the rate. They must maintain this for 90 days or more in order for the IMF to accept their request to move to Article VIII. The point being price stability. Cost of goods should not vary throughout the country (this is what MCP is) many gurus don't understand and think MCP is different currencies (like dinar and dollar). Iraq will always have dollars in Iraq as long as they sell oil. For example. A new washing machine should cost 430,000 dinar in Baghdad +- 2% and same goes for Kurdistan. Iraq needs to prove they can maintain this stability before they can engage with the global financial system.
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