CBI Iraq - New Iraqi Dinar Currency Exchange Rates

[moneysoon]

it's a joint work...during Maliki's terms, he and Mahmoud (head of the Supreme Judiciary) returned the controls of the "independent" bodies, such as the CBI, back to the Umbrella of the Govt and the Supreme Judiciary.

 

The current GOI is working to return the complete approval of laws back to the House of Representatives, as the constitution implies this is where the "final" approval of laws should stem from. NOT the Supreme Judiciary  Recently, we've see Mahmoud's been getting "a talking to" from Allawi as well as the current US Rep to Iraq (forget his name now...sorry).  

 

 

This is not solely controlled by Iraq - Iraq has a consultative team assigned to them within / via the IMF.  When the time comes, Iraq will choose their exchange regime and move into Art 8 of the IMF exchange regime protocol, but also, we need the appropriate ER laws in place. Also, within the IMF exchange regime guidelines there is a phrase which states that the ultimate controls re currency reform fall to the govt. I think this is the first time in 8 years where we actually have a "viable" investment with forward movement. 

I wholeheartedly agree! It is interesting though, that we keep "hearing" that the push of the button can be done independently of the GOI, namely the legislature. The articles I read seem to imply that the dropping of the zeros will be made in effect by the hand of the legislature acting, probably the ER package. The MP's are all chiming in on what they need to do, not the CBI. For budget purposes, a function of the GOI, I do not see a scenario where the dropping of zeros can be discussed without also discussing then the effective rate.