virgoinva2001

Just curious, maybe I am caught up in Dinar mania but have the pictures of the Dinar on the CBI web page changed. I dont recall seeing both the front and back posted online. Its nothing earth shattering just checking.

There are some interesting tidbits buried in this letter. It certainly does not seem t be pointing to an RV or at least not one in the near future. V. PROGRAM SAFEGUARDS AND MONITORING, DEBT AND DATA ISSUES 14. Progress has been made in moving toward accepting the obligations of Article VIII, Sections 2(a), 3, and 4, of the IMF’s Articles of Agreement. We have worked with IMF staff to complete the review of exchange laws and regulations and are considering measures to remove the identified exchange restrictions on current international transactions. We remain committed to avoid imposing any restrictions on the making of payments and transfers for current international transactions or introducing any multiple currency practices. II. DEFINITIONS 3. For purposes of monitoring under the program, a program exchange rate will be used. This program exchange rate will be set at ID 1,170 per U.S. dollar. The program exchange rate will be used to convert into Iraqi dinars the U.S. dollar value of all CBI foreign assets and liabilities denominated in U.S. dollars, as required. For CBI assets and liabilities denominated in SDRs and in foreign currencies other than the U.S. dollar, they will be converted in U.S. dollars at their respective SDR-exchange rates prevailing as of December 31, 2010, as published on the IMF’s website.

CBI was on holiday on the 21st. If you click on currency auctions then click on exchange rates and scroll to the bottom it will show the auction for the 22 March

This sounds like the posting you see when you go to XE currency converter and clcik on Dinar news. This was put on the web page back in Mid January.

My point MRREF is that we have been hearing that the RV must happen to be in WTO i and that is not stated in the WTO Accession Handbook. My point is that we have heard that Iraq is going to the WTO on tuesday the 15th and the WTO calendar does not show a meeting scheduled. Everyone seems to want facts on this site rather than just opinion, well there are two facts just provided.

I have been reading that a critical upcoming date is a meeting with the WTO which is supposed to happen on the 15th of March. I have checked the WTO calendar and did not see any meeting scheduled. I am not a WTO expert so maybe I missed the meeting, perhaps its a special meeting. Of note tied to this discussion is the stated fact by many that the Dinar needs to revalue and be a tradeable currency before acceptance. I have posted the section on WTO accession Handbook on currency below. It does not come out and state that it is a requirement for a currency to be tradeable to be part of the WTO, it provides some guidelines about exchange of currencies and the country requesting membership must show how it will exchange currency. The key part of an accession into the WTO seems to be the provisions established by the WTO with each individual country. The WTO can add additional requirements that must be met. Without seeing the actual requirements negotiated between Iraq and the WTO makes it hard to know. Not sure any of this is relevant if the gurus are correct that the RV is happening in the next few days. However, thought this might be interesting. The WTO handbook in itself is interesting and it is clear that the WTO and IMF cross boundaries and it is not always clear who is pulling the strings. Foreign exchange and payments [color="#FFFF00"]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.[/color] 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.

I think at some point even the most harden investor feels your frustration. I have been invested for many years (since 2006). I actually had put it all on the back burner and then someone pointed me to this site. I didnt feel any frustration until I joined and got myself caught up in the excitement week in week out. I have now signed up for the alerts and dont even worry. If it happens I will get notified. I cant make it go any faster so I stopped worrying. I do remind myself that Iraq is a growing country with still many hurdles to over come. But I also know they cannot be an influence on the world or grow without a trade able currency so at some point it has to happen. Maybe it is when the GOI is formed, the budget approved, HCL completed, Kuwait is paid off, and who knows what else, but it will happen, it has to happen. For me as soon as I stopped getting excited about a 3.22 rate and thought it would be nice if it was just 10 cents the roller coaster stopped and my frustration went away.But we are all different, you and every one else just needs to find what keeps them grounded and know that some day, maybe tomorrow, next month or next year something will happen.

The document is a very interesting read. Its basically a how to guide on how to build a country or in Iraq's case rebuild a country. The way the document reads it was done by an outside contracted source hired to review Iraq and make recommendations. The document itself I think encourages a revalue. The key paragraph below indicates they should work toward sound monetary exchange frame work. the document cautions against relying solely on oil and that it must contract for outside support and must develop a strong private sector to be successful. I saw nothing that would indicate delaying an RV. The document spend only a small portion of the 125 pages even talking about finance. It's focus is more on improving internal operations, providing for the people, reforming its banking system, mending disagreements with neighboring countries, and taking care of its people. Actually a good document. Others may have different opinions after they read. thanks for posting Continue to adhere to a sound monetary and exchange-rate policy framework. To preserve hard-won gains in disinflation and de-dollarization, an appropriate monetary and exchange-rate policy framework needs to be set in place. In that regard, maintaining a healthy level of international reserves is crucial in preserving the stability of the Iraqi dinar, and in avoiding the resurgence of currency substitution and inflation with accompanying socioeconomic effects, particularly on the poor. To address this, monetary authorities should continue to carefully monitor the emergence of possible inflationary pressures in the economy.