DoD

LB, I’m sure you remember the restructuring of state owned banks as part of the IMF requirements…can’t find the link right now.

Right there with ya 3n1…I know we have some gurus on here but it doesn’t take a rocket scientist to know that. I will put on my guru hat for a second and make a prediction based on facts not hopium. The Chair of the Working Party of the WTO will be back in Iraq in July for a third visit. The article said middle of 2024 so I’ll say July (Fact). Iraq’s politicians have said everything is done but we know that’s not true. This part is my speculation. I’m figuring the WTO won’t be wasting their time returning to Iraq in six months for nothing. If the intent for their return is to announce the full membership into the WTO, that means Iraq would have an international recognized currency. In my opinion that would mean some type of RV. The time frame would have to be May-June because Ramadan is in April. Adam thinks the HCL is a player in this mix, if true and the Iraqs are really serious that would give them plenty of time to pass it. An RV of anything after Ramadan would work for me….

This could help with your question Bama Girl, a little long but should put to rest your question... World Trade OrganizationSkip to content Site search Home About WTO News and events Trade topics WTO membership Documents, data and resources WTO and you HANDBOOK ON ACCESSION TO THE WTO: CHAPTER 5 Substance of Accession Negotiations Click the + to open an item. 5.2 Rules Economic policies The main aim of this section of the Working Party Report, and the following part dealing with the framework for making and enforcing policies affecting trade in goods and services, is to provide Members with an understanding of the context within which the applicant’s WTO obligations on specific trade policy measures will operate. Certain information requested is relevant to specific WTO provisions. Discussion in the Working Parties has focussed on the following subjects: monetary and fiscal policies; foreign exchange and payments, including balance of payments measures; investment regime; State ownership and privatization; pricing policies and competition policy. Monetary and fiscal policies Experience indicates that information submitted by applicants on monetary policy and fiscal policy should include the objectives pursued, the responsible agencies and the policy instruments used. Summaries of fiscal policies should indicate if any tax reforms have been undertaken and any changes planned. Applicants should also indicate whether they have achieved their objectives in this area and give an account of the present situation. The aspects of taxation covered by the rules of GATT 1994 are the subject of the sections on the application of internal taxes to imports and exports. There are no provisions in GATS on taxation. Discussion of this item in Working Parties has usually been brief and there are no Protocol commitments in this section of their Reports. Foreign exchange and payments Applicants need to describe how their exchange rate is determined, whether their currency is convertible, whether foreign exchange is freely available for trade and payments purposes, whether any regulations exist relating to the retention of foreign currencies, or repatriation or surrender requirements. Applicants should also describe their balance of payments situation. While foreign exchange questions are within the jurisdiction of the IMF and trade policy questions within the competence of the WTO,128 foreign exchange questions and trade policy questions are interrelated. Of most direct relevance to the WTO is whether foreign exchange is freely available in payment for current account transactions, as exporters need to know how they will be paid. The WTO therefore recognizes this interrelationship. The GATT 1994 provides that Members must not, by exchange action, frustrate the intent of its provisions and that they must either be members of the Fund or enter into a special exchange agreement with the WTO.129 GATS provides that Members must allow international transfers and payments for current transactions relating to specific commitments entered into under that agreement.130 Working Parties have been careful to respect the competence of the IMF. While Members have demonstrated an interest in obtaining adequate information on all matters dealt with in this section, they have laid stress on issues of direct relevance to international trade. They have, for instance, focussed on knowing whether applicants are members of the IMF and whether they have accepted Article VIII of its Articles of Agreement which provides that “no member shall, without the approval of the Fund, impose restrictions on the making of payments and transfers for current international transactions”. They have been particularly concerned that foreign exchange controls may be used to regulate the level and composition of trade in goods and services.

This photo is at least 13-15 years old….

Thanks TexasGranny, I’ll try again since it’s been a couple months since the last request…

TexasGranny, being your here could you check to see why I can’t get into the IBC section of DV please? I’ve given up on Julie giving me an answer so I’ll give you a try…Thanks

Thanks yota for the many years of the posting of these budgets, hoping this will be the last one….

Oh I plan on it, whining, whining…LMAO Would you Iranian cheerleaders please post the articles where they and Maliki say their going to RV the Iraqi Dinar. Do you people not read the articles who this new PM is? Knowledge and Google are wonderful things if used….

I hope you’re right yota but the whole world is giving Iraq high fives and congratulations for their new government. Maliki and Iran has pressed forward with forming the government ever since Al Sadr gave up. I’m thinking with all the influence Iran has with the Iraqi federal courts this could be pushed back for a long time. It’s hard for me to believe that we’re gonna wake up in the next few months and Iraq under the guidance of Iran is gonna change the Dinar exchange rate to match the dollar…

WOW, what took the Iranians so long to takeover Baghdad? 48 hours, they must be slipping. I’m surprised with all the demonstrations and protests in Iran they were able to mobilize that quickly. You gotta know Maliki and the boys are having one hell of a party this weekend…

Sanctions - Capter 7…..

You’re not going to do anything until the master Iran tells you to.

Agreed Keylime, what I’m missing is why Iran would want to strengthen the Iraqi Dinar. Oh, I hope they do but just don’t know their endgame. Could it be by strengthening the Dinar it would be more profitable in the black market smuggling of their currency?

Well sure it is, Iran will annex Iraq in a matter of months in my opinion. I haven’t figured out yet what I’m gonna do with all this Dinar I’m holding, any suggestions? Iran has about bankrupt their country so it only figures they will do the same with Iraq. I haven’t seen any articles on the response from Al Sadr yet. Sorry for venting my disappointment on here but I’ve obviously wasted a lot of years in this big gamble….

I bet it doesn’t take Al Maliki and Iran 30 days to form the government. The next few weeks should be a blast…WHOOPS