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Showing results for tags 'CBI TO MOVE TO ARTICLE VIII !'.
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CNN. Broadcasting The Humpday Baghdad Traffic Report - There's Been An 8 Camel Pileup On The Baghdad Expressway At The Downtown Interchange ! 12-17-2013 Newshound Guru Kaperoni I have talked about the CBI conforming to the IMF requirements. Today for the first time since 2010 the CBI is in compliance with the IMF. They officially stated they Official rate of the dinar at 1179 and the Market rate at 1190. That is below the 2% requirement (a little over 1%). This is a requirement that the IMF stated clearly was a condition in the Article IV consultations. If the CBI can maintain this, it will go a long way to transitioning out of Article XIV and to Article VIII. 12-17-2013 Newshound Guru Kaperoni I am expecting in the coming days we may also very well see the CBI start selling the bonds as well for monetary policy in dinars. I am sure the CBI and IMF are both smiling today. When you pair this information with two new articles released today, it appears the CBI may be gearing towards exiting the current exchange regime under Article XIV and move to the new regime (we hope a float) in Article VIII sometime in January. At the end of January the CBI is hold a conference in Dubai! So, we have the CBI meeting the IMF requirements today, we have the article saying mid-january the banks will be "stimulating the economy". And now we have this Dubai banking conference end of Jan. 12-17-2013 Newshound Guru Kaperoni It is very apparent to me that the CBI will try and move to IMF Article VIII within the next 30-60 days. If the CBI moves to Article VIII in January, the value will begin to rise then. It all depends on the exchange regime they chose when they move to Article VIII. If its a free float, it may correct itself very fast. If its a managed float it could take a while. The IMF prefers a free float. Today is a good day. We should all be happy today. 12-17-2013 Newshound Guru tlm724 [baghdad welcomes the agreement between the oil Ankara and Erbil on condition of marginalized] the HCL was passed years ago just never implemented so we see Baghdad is now willing to go forward with this as long as there is a meter on the pipeline to monitor the amount of oil being exported ( which by the way there is a meter) and the oil is sold at a fair market price and the revenue from the sale goes into the DFI , so we are right there as far as the HCL 12-15-2013 Newshound Guru Tlar Article: "Kurdistan Region starts pumping oil to Turkey" they are pumping oil through the bagdad pipeline with permission from the oil ministry. It is being metered on both ends in Kurdistan when it enters, and Turkey when it is removed, through an agreement between Bagdad, Turkey and Kurdistan that was negotiated by the US/UN. This came about as a result of the meeting Turkey had with the US. The UN will handle the money and split it based on the agreement. 12-15-2013 Newshound Guru Tlar The funds will first be paid to the DFI fund and then be distributed by the UN based on the % agreed to in the contract. Kurdistan and Bagdad will each receive their share directly from the UN. And yes this should be a basic foundation to the HCL based on those percentages. About a week ago the oil ministry paid the companies producing in Kurdistan back bills removing another stumbling block to the HCL. I believe Kurdistan will finally agree to the 13% overall and we will shortly see the HC passed.
