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Collecting more than 100 signatures .. a parliamentary move to reduce the dollar exchange rate - Urgent


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Theseus  The white paper report indicates no change until 2025 for the exchange rate it is possible they can do an amendment to this,am I correct? I know from what you indicate that the IMF is the final arbitrator for Iraq going into article 8 of which this Frank 26 says they in article  8 (BS). What are some of the other factors that will not allow Iraq to gain the entry to article 8. I know about the duel currency has to stop. From what I understand the White paper was fully signed by the government,parliament & the IMP which makes it a legal document. Again thanks for finding the White paper, I know a lot of people up set with this white paper including myself if this is the real reason for not RV \RI the dinar but I still believe we  need to know the truth of why not RVing the dinar. Maybe they been holding this up because too many Americans are holding the dinar. JMO

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10 hours ago, rvmydinar said:

Well. If they can't return to previous rate which is 1200 , then the best and only solution is just rv'ing their currency at 1 IQD : 1 USD. Also, there is no problem paying back their debts at the rate 1:1 either. And , the dinar investors are also very happy at the rate 1:1 , too. This is win-win solution on both sides. Come on iraq, what are you waiting for? Just push the button.

100% correct

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9 hours ago, screwball said:

100% correct

Or second option is if they can't return to previous rate 1200, they may want to return to the previous rate before 2003 during Saddam's regime ( Saddam's rate ) which is above 3+. This is even better.

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On 6/27/2022 at 2:20 PM, edbeach said:

Theseus  The white paper report indicates no change until 2025 for the exchange rate it is possible they can do an amendment to this,am I correct? I know from what you indicate that the IMF is the final arbitrator for Iraq going into article 8 of which this Frank 26 says they in article  8 (BS). What are some of the other factors that will not allow Iraq to gain the entry to article 8. I know about the duel currency has to stop. From what I understand the White paper was fully signed by the government,parliament & the IMP which makes it a legal document. Again thanks for finding the White paper, I know a lot of people up set with this white paper including myself if this is the real reason for not RV \RI the dinar but I still believe we  need to know the truth of why not RVing the dinar. Maybe they been holding this up because too many Americans are holding the dinar. JMO

The biggest roadblocks going into Article 8 is the expansion of the non-oil sector and Iraq's MCP (multiple currency practice) which also includes the banking sector. Corruption falls on that list too but  no country has ever done away with corruption in the highest offices of the land. S

 

Something worth noting, the White Paper says 3 to 5 years to implement short term goals. That leaves a little glimmer of hope for an RV sooner than later but my bet is on the later (2025). However, if Iraq has not done away with MCP by the end of 2025, don't expect an RV to happen in 2025. The IMF is adamantly, and I do mean very strongly, against MCP for countries in Article 8. There was talk back in 2019/20 about the 2% rule as to removing this aspect for a country going into Article 8 (not currently in). I have not found anything to determine whether or not that rule was still in effect for Iraq. Assume the rule is still in effect.

 

Again I have said it before that the HCL refers to the Kurds and is not the Iraqi Oil and Gas Law. As long as the conclusion of the negotiations of Erbil and Baghdad fall under the purview of the annual Budget, this is not the HCL. The Annual Budget is law only for that year and expires at the end of that year. If an Annual Budget is passed for 2020, on Jan 1 the law is expired and no longer legally binding, which is why Baghdad and Erbil are seemingly always in negotiations on oil. The HCL ends this endless cycle of negotiations whereas the Iraqi Oil and Gas law includes ALL of Iraq, not just the Kurds. RV requires both.

 

One other thing that is not affected by the IMF and those are the sanctions still levied onto Iraq by the UN and other countries. These must be removed as well. 

 

Until the IMF is satisfied with the non-oil sector of Iraq and Iraq removes its MCP policies (this includes the banking sector), there will be no RV at a rate higher than a US penny.   

Edited by Theseus
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