kaperoni

I reviewed a previous document also on the IMF site and it has a similar quote. The one differnece is in fact that it say 2012 is the year when there is a surplus. So IMO there is a type o in the document released today. Feb 4th doc... "In 2010 and 2011, the funds from the IMF will be used to support Iraq’s budget and to help pay for imports. Current government spending will be contained over the next two years in order to make room for higher investment and gradually reduce the deficit, and Iraq is expected to begin running a surplus again in 2010, the IMF said." Feb 1st doc... "Iraq’s longer-term economic outlook is strong as oil prices and production are projected to increase markedly in the coming years. However, based on conservative oil price assumptions, the external current account and the overall balance of payments are expected to remain in deficit in 2010 and 2011. Similarly, Iraq’s fiscal position is projected to record significant, albeit declining deficits in both years, before returning to a surplus position in 2012. "

"In 2010 and 2011, the funds from the IMF will be used to support Iraq’s budget and to help pay for imports. Current government spending will be contained over the next two years in order to make room for higher investment and gradually reduce the deficit, and Iraq is expected to begin running a surplus again in 2010, the IMF said." That part is exciting to read. hard to imagine how they could go from a deficit to a surplus in the same year without a rv!

OK....lets all sell and quit this now. lol

They are spreading rumors...i heard this stuff a day ago on the street from a contact. big smoke and mirrors

Three thoughts on this....it totally contradicts the introductions of smaller bills as already stated. Also, where is the draw of large bills from this activity? And lastly, how does this get them on the international market? IMO, more bogus intel and the RV must be much higher. That being said, I also am hearing rumors of a smaller RV through "boots on the ground" sources so obviously, this is a grand "counter" campaign going on to stop the excitement.

8 more days til i win the bet! lol

and if so the leak a few weeks back regarding the power plant holds true. Lets hope all this comes true.

My information tells me that the loan is real and short term. They are not ready to RV yet and this will cover them till ready. Look for a summer RV peeps. No sooner...sorry. June 1 this may be over.

Like in the comercial...can we just drop a giant paint ball on Medic and his bs?

Sonny1, they got an IMF loan back in 2006 i think and paid it off in 2008. So apparently the dinar meets this criteria.

Big ears is pulling the plug before we get our rv. How stupid is he? I would not leave until the rv was done and the confusion was settled. To me, it would have been a condition... show us you can function by getting back to pre war levels...including your currency and then we leave. We are leaving Iraq and getting nothing in return. Just fine and men and women who were lost.

But when Sonny1, when? They are getting IMF loans as we speak rather than do this RV. As I see it, we wont see this happen till summer at the soonest.

No rv till summer...they borrowing money until then.

They also say this... An Iraqi cabinet committee ordered the change in 2007, but the central bank did not think it appropriate until recently, Kasim said. The dinar's value will remain unchanged, he said. Which to me means a 25k note will remain valued at 25k.

I wanted to post my results from today's investigative work. The IMF back in 2008 had a SBA (Stand by Agreement) with Iraq. Part of this as most of you know is a "on demand" loan. Iraq currently has no loan with the IMF and has a meeting tomorrow Wed to update the SBA. The SBA is in essence the monetary policy that Iraq follows in order to get out from under the UN guidance. There are some key items to note from the older SBA document pertaining to Iraq's debt. The three steps of getting most of the debt reduced requires Iraq to follow the SBA. And if so, then much of the debt has been negotiated to go away, what remains will be paid in 2011. to keep it short...here are a few quotes from the 2008 SBA... "...rescheduled debt to Paris Club creditors start in 2011" "Even with only a projected gradual expansion of oil output, Iraq should be in a position to meet its obligations to the Fund." "Based on the Paris Club agreement in 2004, the repayment of the remaining debt stock would start in 2011; the interest payments accrued during 2005

I for one find it interesting how to get under one's skin. You can see by reading these there are many ways to skin a "goat."

Rule #1 never listen to any of these "so called intel" peeps. Look in the news for your info. No news, no RV. Simple ...got it?

The more I read this the more it not make sense...if Iraqis had to convert there dinar (25k note to 25 note) they would leave the country to Jordan, Kuwait, etc. and exchange for US dollars. Huge black market activities would go on. The CBI is going to have to allow what dinar Iraqi's already have to sustain there value or else big time smuggling problems.

Nothing stated here is "conclusive" as titled.

This is interesting...it does not make sense at the current exchange rate. Lets be careful with this, as it could be wrong, but also could be a sign of the pending rv. From Iraq Gov site. ------------------------------------------- 21/2/2010 Calling the Department of pension and social security of workers, one of the formations of the national pension of the Ministry of Finance, cashing retired workers in the first of March. An official source in the Chamber of the Press Department at the National Center for Information will be cashing retired workers for the months of January and February through the post offices and in accordance with the new rates set by the Council of Ministers. The source explained that the specific amounts for those who have service up to (30) years and above will be (200) thousand dinars, and owners of service without the (30) years will be (170) thousand dinars, adding that the family of deceased pensioner, which has more than three eligible to be spent (150) thousand dinars. The source added that the family of the deceased, consisting of retired beneficiaries would pay them (140) thousand dinars, consisting of one receivable receive (130) thousand dinars. The source urged all retirees covered by those provisions for a review of post offices for the purpose of receiving their allocations, Mstsahpin with ID card and identity scheme. http://translate.google.com/translate?tl=en&sourceid=ie8-activity&u=http%3A%2F%2Fwww.nmc.gov.iq%2Fmnews%2F2010%2F2%2F21_6.htm

My only thought is whether or not the RV needs to come before April 1st or after. This meeting in April may in fact, be the "sign off" and "go ahead" on the RV if Iraq has got everything in place, rather than after the RV meeting. IMO if we do not see the RV very soon by March 1, we can assume the RV will be post meeting on April 1st.

Nice post Enorrste!

wanted to try my new avatar. lol

too funny!

He is like all of us learning and making new calculations on the fly...there is no way one can predict the first time and be correct in this investment. Ennorste is a very smart man and his opinions to me are highly regarded.