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Showing results for tags 'GURU CAT FIGHT !!!'.
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CNN. Broadcasting From Center Ring In A Footlocker Referee's Jersey - Gentleman Shake Hands And Come Out Pontificating ! 12-11-2014 Newshound Guru Kaperoni ...some overnight RV...It's not...going to happen., It's going to gradually rise (float) from the current rate at 1166. This statement direct from the IMF Article IV Consultation is very clear..."staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy. Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect,". No where in that statement does it say staff says RV then float, or staff wants the CBI to RV and then gradually raise the value. What they DO say is..."Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate". 12-12-2014 Newshound Guru Kaperoni Article: "Zebari: the dinar exchange rate remains stable" Quote: "so our priority at this meeting to give a comprehensive picture of the economic and financial reality of Iraq" They are sure making a big deal about currency stability. Why do you think that is? Because the IMF demands that they meet the 2% spread for compliance. We all know Iraq tries to get things without doing the work. Does everyone remember Iraq called for removal from UN Chapter 7 for over two years before they actually meet the conditions? IMO, this is the same thing...the IMF said....your doing good, but your 2.6% and that is not good enough. And the CBI went..shucks. Now the hype is starting to try and bend the rules. Unlikely the IMF will give an inch, I stick with February 28th date...BTW, November 24th the market rate dropped to 1198. So technically, the countdown could begin then and end February 24th. To be sure, I am giving it the full month. 12-12-2014 Newshound Guru Kaperoni Believe me the CBI does what the IMF says. One way or another, they do it...as for 90 days. Here is the fact...the IMF charter clearly states a member country must hold the 2% for 90 days. This is in Iraq's best interest as the magnitude of failure could be catastrophic if they do not know what they are doing when they go to Article VIII. That being said, I have not found it written in any document "specific" to Iraq that I can prove it. Could there be a special arrangement? Sure...do I think there is? No. 90 days. 12-12-2014 Newshound Guru Stryker The Arbain ceremony in Karbala has been attended by millions but will end today and the 2015 Budget will be front and center once again in tomorrows Council of Ministers meeting. Iraqis are not lined up outside banks, they are not celebrating in the streets and the Iraqi TV stations are not scrolling monetary reform is almost completed.The facts are, there are still a few things that need to be done before we see the RV take place. Also, there is no 60 or 90 day wait period put on the 2% parallel rate before the RV can take place.
