Shabibi: Monetary policy in Iraq is bad and the World Bank

[LDJ]

Maybe he is asking the World Bank to give their opinion, and assuming maybe for at least a brief moment that their opinion would be that Iraq needs to RV their currency, and that would get the GOI to see the clear point to do so. I may be just grasping,... probably am but I don't get how the guy that everyone has always held in such high regard about monetary policy now says his policy sucks and it needs review.

[zigmeister]

Maybe he is blaming himself but doesn't want to point the finger at himself .

[Flyboy42]

for one i dont think the RV is gonna happen everyday. Tim s is very negative about this investment or its the frustration, They have even came out and said they will raise it, you cant devalue the dinar anymore only one way up and thats to revalue before inflation takes hold in double digits, the sanctions are killing Iraq on the dinar because of Iran and syria, this could crumble their economy so yea i would say waiting 2+ years is definitely out of the question and im sure many would agree with me on that one.

i mean i understand to be grounded and yes we shouldnt take every rumor as gospel but 2 years come on now, if they waited that long i guarantee you their economy would be done. the CBI is independent and they Wont tel the GOI all the details. they wil do what is expected of them by the IMF and being compliant with the Basil 3 banking sectors, the rest is moot and void. Their is alot of misinformation that has been circulating for quite some time and i believe because the GOI has no clue what the CBi intends to do.

You're exactly right on target, Easy. There's no way Iraq can go another 2+ years... But you're wasting your breath on those 2 posters, as we've all seen in the past. I think some people come on here just to argue. Don't let their negative views get to you or bait you into argument; they're not worth it. They have a right to their views, just as we do. Let them live with their own negativity. Keep up the good work; you put in good posts. GO RV... and soon!

[truthful1]

You're exactly right on target, Easy. There's no way Iraq can go another 2+ years... But you're wasting your breath on those 2 posters, as we've all seen in the past. I think some people come on here just to argue. Don't let their negative views get to you or bait you into argument; they're not worth it. They have a right to their views, just as we do. Let them live with their own negativity. Keep up the good work; you put in good posts. GO RV... and soon!

Recognizing what the cbi is saying, is not being negative. to speak or post on the bad news that comes out through the media is not being negative. no one is saying a rv cant happen. no one is proclaiming a certain guaranteed result.

anyone who might point a possible issue or problem, is now considered to be negative. Anybody who points out someone who presents wrong information is negative. what gives........i mean whats the point of coming to a public forum, if you cant handle the tough topics. no one chooses to bring negativity.....its presents itself in the news, yet unless you ignore it and say go rv, you now become negative.

Whether its positivity or negativity.....it will not change the outcome. currency speculation and emotions dont mix. people shouldnt care about whether its positive or not, but whether the substance of the argument holds any possibility. People get into this locked position of it will rv at a dollar......and anything else is negativity.

Some come here to: read the news...and comment on whats going on and to conversate about all possibilities.

some come here with the idea of a locked rv and want this to be a fan club or cheering section, and shun anyone who talks otherwise. there are all kinds of reasons why people are here...........

challenge those so called negative peoplewith answers to there questions. answer back wth questions of your own. conversate about what it is that makes you think there so negative. challenge and conversate. If you want to ignore and shun those who presents alternate outcomes thats your choice. no one is trying to convince you of anything anyways.

[Halo9678]

IMHO,

There are a lot of good, well thought out comments in this thread that have a lot of merit. We, the readers, must weigh what is presented and make our own decisions for our own investments. There are a lot of mixed signals coming out of Iraq. In fact, I'd say Iraq wrote the book on mixed signals and/or missed opportunities . Guys, we're all pretty intelligent people and we should be able to simply agree to disagree, shake hands and keep it moving. No sense in a public thread with well meaning and capable people to resort to he said she said tactics. My God, have we been watching the GoI/CBI that we are starting to sound like them?!?!?! As far as the post is concerned, Shabbs is the Govenor of the CBI. PERIOD. He is ultimately responsible for what his organization does or does not do. Thre are many reasons for the article and that many more possible courses of action because of it. That's why it's called SPECULATION. From what I've seen in the past, Maliki doesn't seem too phased about what anyone has to say about him or to him in the media. He appears to be a rather driven and determined individual who will stop at almost nothing to achieve his intended/desired results. He can even claim that he did it for the good of his people and they will love him for it. remember, Iraq is a majority Shia country and Maliki is a Shia. He can play politics and religions with/against each other and redirect any angst towards him to someone else. A few things that I have noticed...

1. Maliki knows that he's not going to give Shabbs what he wants, the Erbil Agreements/Power sharing gov't. So, he's going to wait Shabbs out forcing Shabbs to RV/RD (whatever) to save the Iraqi economy. 2. The Kurds are attempting to put on a 'untied front' to the world to show they aren't the 'problem'. This goes with the refusal to accept anything from another country without the blessing of the GoI. futile, IMHO, as the GoI is the one trying to absord everything and give next to nothing back to those who put in... But, this is Iraq and stranger things have happend. I suspect Barzani and Talabani have something in the works to ensure the Kurds don't get screwed over... Again! Or at least, they can get something out of it whether it is for themselves, for their people or both.

3. Allawi isn't going anywhere an Maliki knows this. Allawi can try to claim the moral high ground all he wants but it's not going to get him anything. both Iraqiya and the Kurds have tried this same tactic in the past: "Try" to work with Maliki's gov't, voice their displeasure and cry to anyone who is willing to listen only to rebound even stronger to the GoI in a sense of capitulation. This pattern of love ahte and reconciliation only emboldens and entrenches Maliki's gov't. considering that, Iraq is about as soveriegn as its' going to get under the current conditions, what you see is what you get.

4. The dinar is very unstable, ergo, the economy of Iraq is unstable. So, it must be acknowledged that Iraq is STILL unstable. ANYTHING can such a volatile environment! The politics, religions, and economy of the region have come to a head with the Arab Spring. It's only been a year or so since then. Iraq was shielded from the effects of the Spring because US Forces were present. I suspect that Maliki is using the instability to gain friends and do favors to come out ahead in the end. Iran and Syria's current position greatly contribute to this and will continue to do so as long as there is instability in that region.

Personally, I hope that this doesn't go on for much longer but if it does, we'll have to make our own decisions on how to handle this in our own best interests. Best of luck and take care.

Halo

[keepmwlknfny]

If they really think they are strong and stable enough, now would be the time to move away from having a fixed exchange rate.......not sure though if that could have a negative affect at this time....

Shabs talked about it before, but didnt think they were ready because they are not diversified enough economically speaking and they rely too much simply on oil revenues....

[zigmeister]

If they really think they are strong and stable enough, now would be the time to move away from having a fixed exchange rate.......not sure though if that could have a negative affect at this time....

Shabs talked about it before, but didnt think they were ready because they are not diversified enough economically speaking and they rely too much simply on oil revenues....

Well Shabs has to come to point, it is what it is.