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This was on another site - looks interesting. (This is the IMF:) (IMF) Directors supported the objective of the Central Bank of Iraq (CBI) to liberalize the foreign exchange market and the recent steps to simplify market regulations. Further measures are needed to liberalize fully the supply of foreign currency, with the objective of lowering the exchange rate spread, removing distortions, and complying with Article VIII of the Fund’s Articles of Agreement. ___________________________ Directors highlighted the importance of a stable financial sector in developing the private sector and diversifying the economy, and were encouraged by recent progress in strengthening banking supervision and restructuring the Rasheed and Rafidain banks. They encouraged the authorities to ensure a level playing field for public and private banks by opening to private banks access to government business. More broadly, Directors emphasized that fostering growth in the private non oil sector requires improving the business environment, investing in infrastructure and social capital, reforming state owned enterprises, and enhancing public service delivery. Judicious use of the country’s oil wealth can help address these pressing challenges. Improving the authorities’ capacity to implement reforms will also be critical. ______________ This is not an article. This is not an editorial or opinion piece. This is the WORLDS BANKER, the IMF, telling Iraq that NOW IS THE TIME to do this thing. This directive is HUGE. The IMF is tired of waiting... they are pushing Maliki here.... they are sick and tired of Maliki's weak dinar policy... and the IMF is "encouraging" them to diversify and move forward and get the show on the road. The article 8 deal is HUGE.. the IMF is going to start pushing parliament.. and if Maliki does not get in line.. he is liable to be run over. The Rafidian bank thing , the level playing field, the reform/diversify talk.. shows that the IMF has already pushed the car out of the garage.. and if Maliki doesn't get in and drive.. they are gonna take the keys away from him. Remember.... Iraq is supposed to become a "donor country" in 2014 as per the IMF.. The big boys are about done waiting on Maliki.. everything else has been done that can be done... it is TIME for them to lift the foreign exchange rate of the IQD... the laws needed are all waiting for the final reading.... ~ Blue
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4-9-13 Stryker: …last night I was informed by RSS that he had in fact found and posted an article that turned out to be the right story after all, the parliament did in fact adjourn until Tuesday April 23th after a full day of work. They needed a full day of work since they only worked three days last week and one this week but it wasn’t all bad though. They did manage the first reading of the draft law on ratification agreement to establish a joint committee for cooperation between the Government of the Republic of Iraq and the Government of the State of Kuwait. This committee was formed in order to strengthen ties of friendship and cooperation with the State of Kuwait and to resolve outstanding issues commitment, covenants and resolutions according to International Agreement with the United Nations Security Council. … I believe that Kuwait is doing the same thing and their committee is being passed through their parliament as well. These two committees are needed to take care of the longer issues that they both agreed on when it comes to the missing Kuwaiti people, artifacts, management of the border demarcations and others moving forward and after Chapter VII is released. Good news when it comes to Iraq’s secession into Chapter VI. It is interesting to me that Mubarak has been slowed down to a snails crawl since he got so excited to make his trip to Baghdad, right after Kobler and the Governor of Basra declared that the border demarcations were completed. Now just as it looked that Parliament was getting ready to really start passing laws that would get them out of Chapter VII, they too are now being delayed by two weeks. It makes me think that they must accomplish a few more things before Chapter VII get officially released. To add to this we have more proof that the 2013 Fiscal Year Budget funds are being held up as well because now the province of Kirkuk is demanding that the Ministry of Finance launch its budget for the current year. It is still my theory, that I derived from the last year of research facts, that the Budget holds the key to the Monetary Reform and as soon as we see it released we will see for sure if I am right or not. All these delays just reassures me that I am more right at this point then I am wrong. OK, back to reading but remember folks that we are dealing with a country that must have their ducks in a row before they can release a change of this magnitude. Have a great day.
