Cabletech911 Posted March 28, 2010 Report Share Posted March 28, 2010 Just some info from the latest IMF report:32. The lack of data and large structural changes in the Iraqi economy preclude anymeaningful estimation of the equilibrium real exchange rate. A very crude assessmentsuggests that the dinar is broadly in line with fundamentals.4 With the drop in oil prices, itappears that a possible prior undervaluation has disappeared, and that the dinar could even besomewhat overvalued.33. The authorities are committed to a liberal exchange regime and to removing allrestrictions under Fund jurisdiction. Iraq has a generally unrestricted current accountregime and a significantly liberalized capital account. However, four measures have beenidentified to give rise to exchange restrictions subject to Fund approval. Three relate to arequirement to pay all obligations and debts to the government before relevant payments aretransferred abroad, and one to an inoperative bilateral payments agreement with Jordan. Theauthorities are considering measures to remove the identified restrictions, with a view toaccepting Article VIII of the Fund Link to comment Share on other sites More sharing options...
dinarpilot Posted March 28, 2010 Report Share Posted March 28, 2010 The roller coaster ride continues! Link to comment Share on other sites More sharing options...
Randy Posted March 28, 2010 Report Share Posted March 28, 2010 I just wonder how much time are we truely/realisticaly looking at before any kind of rate change good or bad? Link to comment Share on other sites More sharing options...
JAMMING Posted March 28, 2010 Report Share Posted March 28, 2010 "the dinar could even be somewhat overvalued."They've got to be out of their mind Link to comment Share on other sites More sharing options...
Teresa82 Posted March 28, 2010 Report Share Posted March 28, 2010 this bums me out, but it's just a topper for how my day has been! SO whatever! I should just go to bed Link to comment Share on other sites More sharing options...
dollarsense Posted March 28, 2010 Report Share Posted March 28, 2010 Maybe Adam will have more info in the coming days.......this sucks Link to comment Share on other sites More sharing options...
Alf Posted March 28, 2010 Report Share Posted March 28, 2010 I don't buy it. There is no way possible that the IQD is undervalued. There is construction all over this country, new cars everywhere, signs of progress unlike anything I have ever seen. If anything this is pressure for Iraq to re-value, if for nothing else to save face. IMO. Link to comment Share on other sites More sharing options...
rayh56 Posted March 28, 2010 Report Share Posted March 28, 2010 Could this be IMF's response to Maliki arresting newly elected Sunni parliament members? Link to comment Share on other sites More sharing options...
carlablum Posted March 28, 2010 Report Share Posted March 28, 2010 The meeting was on Feb 5th. It just seems like a lot has transpired since then. Just trying to make something good out of it. Could Alawi getting elected, move things along? Link to comment Share on other sites More sharing options...
stargazer55 Posted March 28, 2010 Report Share Posted March 28, 2010 I believe I've seen this report posted & covered here before. Link to comment Share on other sites More sharing options...
ronscarpa Posted March 28, 2010 Report Share Posted March 28, 2010 Just some info from the latest IMF report:32. The lack of data and large structural changes in the Iraqi economy preclude anymeaningful estimation of the equilibrium real exchange rate. A very crude assessmentsuggests that the dinar is broadly in line with fundamentals.4 With the drop in oil prices, itappears that a possible prior undervaluation has disappeared, and that the dinar could even besomewhat overvalued.33. The authorities are committed to a liberal exchange regime and to removing allrestrictions under Fund jurisdiction. Iraq has a generally unrestricted current accountregime and a significantly liberalized capital account. However, four measures have beenidentified to give rise to exchange restrictions subject to Fund approval. Three relate to arequirement to pay all obligations and debts to the government before relevant payments aretransferred abroad, and one to an inoperative bilateral payments agreement with Jordan. Theauthorities are considering measures to remove the identified restrictions, with a view toaccepting Article VIII of the Fund’s Articles of Agreement, but it may take time to resolvethe last restriction because of the pending resolution of Iraq’s debts to Jordan.Full Report Here:http://www.imf.org/external/pubs/ft/scr/2010/cr1072.pdfI skimmed the actual report, and the Effective Report says March 2010 as a "Summary Report", but as you look through the report, it has several documents inclusive - 16 Feb 2010, and 24 Feb 2010. I believe that most of the data was actually pre-Dec 09 and the initial Report was presented on 16 Feb (the negative statement was taken from this), with the later report dated 24 Feb - which was the "Favorable Report" from the IMF that offered the loan. I feel that this is "Smoke & Mirrors" depending who & how it was NOW brought forward. It could just be some info that was dug up and thrown out there. This is JMHO...! Keep the faith that our investment is in God's Hands - not man's. Several prophetic voices indicated God's outpoured Blessing WILL be this year, with one indicating mid year, but no later than Dec 2010. I hope this helps quell your anxiety.Be Positive & Be Blessed,RON Link to comment Share on other sites More sharing options...
k98nights Posted March 28, 2010 Report Share Posted March 28, 2010 I believe I've seen this report posted & covered here before.It has. I posted this awhile back. Sonny said not to worry. It's old stuff. Link to comment Share on other sites More sharing options...
hotdog Posted March 28, 2010 Report Share Posted March 28, 2010 That is very sad news.I hope it is old news and that all is well, or will be well eventually. Link to comment Share on other sites More sharing options...
Dianne Posted March 28, 2010 Report Share Posted March 28, 2010 Glad to hear that it is old stuff! Link to comment Share on other sites More sharing options...
ruger Posted March 28, 2010 Report Share Posted March 28, 2010 So it's old... great but is it still from the IMF right? and they are the ones that have there finger on the trigger. That much has changed in a few months? but it is a "US GOVERNMENT" document so it's not worth the paper it's written on Link to comment Share on other sites More sharing options...
FDyer Posted March 28, 2010 Report Share Posted March 28, 2010 OKAY!! Stargazer, Ron, K98 thanks for shinning the light, glad this is old! Man...what crazy ride. Link to comment Share on other sites More sharing options...
Ariel Posted March 28, 2010 Report Share Posted March 28, 2010 Well, according to XE.com the Dinar value DROPPED tonight...now approx. $842.00 per million Dinar......to quote Alice,"it just gets curiouser and curiouser" Link to comment Share on other sites More sharing options...
FDyer Posted March 28, 2010 Report Share Posted March 28, 2010 Wasn't Iraq/IMF meeting(s) set for 23rd and 24th?? Any word on this? Link to comment Share on other sites More sharing options...
Teresa82 Posted March 28, 2010 Report Share Posted March 28, 2010 ok, thanks guys, I feel a little better now!......But I'm still eating like I feel like crap! But you do know how to make a girl cheer up! Link to comment Share on other sites More sharing options...
Zr1Stingray Posted March 28, 2010 Report Share Posted March 28, 2010 Wishing You a Speedy recovery Teresa82 Link to comment Share on other sites More sharing options...
Teresa82 Posted March 28, 2010 Report Share Posted March 28, 2010 hehehehe thanks stingray!!!!1 Does that mean I should stop eating now? Yeah, that's probably a good idea. I always eat when I get depressed! Link to comment Share on other sites More sharing options...
NotReallyTex Posted March 28, 2010 Report Share Posted March 28, 2010 Well, according to XE.com the Dinar value DROPPED tonight...now approx. $842.00 per million Dinar......to quote Alice,"it just gets curiouser and curiouser"I don't take that as a good sign. Link to comment Share on other sites More sharing options...
daniel c Posted March 28, 2010 Report Share Posted March 28, 2010 "the dinar could even be somewhat overvalued."They've got to be out of their mindIT is true throughout the world a group of people that hides in air con room in exclusive office never know what goes on in the street of the real world making reports as if they are know everything. wonder if the people that produce the report ever step foot in Iraq Link to comment Share on other sites More sharing options...
Jigga Posted March 28, 2010 Report Share Posted March 28, 2010 in case you missed it, it says at the top these are the views of the staff and NOT of the executive board of IMF....dont sweat it.....although it does mention the fact that if the oil revenues go up, so will the exchange rate of the currency....so in other words we want the black gold as high as possible!! LETS GO 5$ A GALLON!! HAHAHA Link to comment Share on other sites More sharing options...
DaveH Posted March 28, 2010 Report Share Posted March 28, 2010 I don't buy it. There is no way possible that the IQD is undervalued. There is construction all over this country, new cars everywhere, signs of progress unlike anything I have ever seen. If anything this is pressure for Iraq to re-value, if for nothing else to save face. IMO.really? seems a bit undervalued to me Link to comment Share on other sites More sharing options...
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