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Somebody called me...yesterday...they said...“are you sure that the IMF is demanding that Iraq raise the value of their currency, in order for them to get the 2nd loan?”
I said “yes.” I believe they are about ready to get their loan...which means they are about ready to raise the value...IMO. Article quote: "The remaining funds will be disbursed contingent on certain performance criteria consistent with the program's objectives to reform Iraq's financial and economic policy."
In order to get the 634 Million Dollar loan...the funds are CONTINGENT ...to the reform of Iraq’s financial policies.
What are those?
To raise the value of their currency. What else?
They must remove the RESTRICTIONS of the CURRENCY EXCHANGE...The program rate is a restriction. Article quote: “… it will SIGNAL that the currency can be freely exchanged..."
This is impressive!!! ...it is CONTINGENT...this loan... for the IMF...to see that the MR has to improve and there is so much evidence all over the place. This is amazing!
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Join date : 2011-08-09
Franks an idiot. When the IMF talks about "removing restrictions" they are talking about removing the impediments or limits that are preventing the sale of foreign currency, not the Iraqi dinar.
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