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Chattels Pontificates on What He Does Not Know

Newshound Guru Kaperoni The reality is they are not going to achieve Article VIII anytime soon. That being said, whatever they are doing..it does not appear to have the blessing of the IMF either. And that is cause for some concern. We have to hope they are doing what Dr. Bakri stated when I asked about Article VIII accession..."Iraqi dinar first needs to improve before coming to such a work, and improvement comes through delete some zeros from the Iraqi dinar,.." I don't believe the CBI is ignoring monetary policy (though they are apparently not really interested in IMF compliance at this point) especially when we see the all the economic articles. The Prime Minister is working hard on changes, there are conferences and such going on... quote from a dinar article..."And between Yasiri that the Finance Committee "supports changes to the local currency because of the economic importance of the country." The central bank says that the deletion of zeros is part of a plan to develop its monetary policy and currency reform management."

As we have stated, the dinar will rise as a result of inflationary pressure created by investment. What we are seeing the past couple of weeks appears to be measures that will create the environment for that pressure to happen. Raising the value of the dinar is sorta like a consequence and not a "just because" action. The remittances, tariffs are just the start...we will simply need to watch and see how Iraq's economy progresses. Just because the CBI is not following the IMF Article IV requirements is not necessarily a bad thing if the goal is the same. And we believe the goal is to open the banking system so investors can participate. If they do, the dinar will rise. What happens after that is still to be determined. No need to panic. Let it come to us

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