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Iraq has met the IMF 3-month 2% requirement


Floridian
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I know how you guys love Kaperoni 😂 but in all fairness, he has been keeping close track of the Iraq 90 Day/2% requirement.

 

6-16-2018   Newshound Guru Kaperoni   Great news! The CBI has officially met the IMF 3-month requirement to maintain the official rate/ market-rate spread at 2% or less.  This requirement was a prerequisite to acceptance into IMF Article VIII.  They must continue to maintain that until they make the decision to move to Article VIII. If they fall out of compliance they will have to begin the 3-month requirement again.  Many believe the CBI will not take that risk and will write the letter to the IMF requesting and accepting Article VIII right away.  Personally, I don't think the CBI will move until the new government has been formed. Others disagree but we'll just have to wait and see.  Accepting Article VIII has significant benefits to us as investors. The dinar becomes internationally-recognized and convertible and would also require the CBI to move off the peg to some type of float to counter inflationary pressure created by investors/investment.  Since Iraq has yet to hold their annual Article IV Consultation with the IMF I expect that will occur at the same time as them accepting Article VIII.

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