Iraq in the World Marketplace

[ctoddy]

Now that Chap 7 has basically been released Iraq can now enter the world marketplace. Right? As part of Chap 7 their currency was not "recognized." The question is who makes that determination? I've been looking over the WTO website and couldn't find it there. I realized it's most likely the IMF that is going to oversee/authorize that process. I've been on their website for some time now and am not finding what I'm looking for.

So here's three questions - now that Iraq is free so to speak. Their currency should be accessable when? And who makes that decision? When can they start to trade freely?

This is not an RV question. The answer is not, "When it RVs." With the removal of Chap 7 there should be a time frame to allow the currency to enter the marketplace. It should correspond to Iraq's ability to freely trade with the world. If the answer is immeadiatly, then as I see it an RV does not need to happen anytime soon or NEED to happen at all. Want one maybe, need one no. The budget that was just announced is based on the current Iraqi Dinar. So it's not the budget. It's not the formation of the Government. Though they may need a government seated to RV, they don't need an RV to deal with the world. That's apparent based on today's UNSC meeting.

Here's the bottom line as I see it. Other than a desire from the Iraqi's to have a currency with more value. The NEED to RV has been removed if it ever existed. They are now able to move forward as a country as 1.5 hours of talks have just told us. So if they don't get this RV by the end of the year, with all the moving and shaking that's been going on (way to make it happen Maliki!) I don't see that there is any kind of time frame after that. Anyone who wants to type something along the lines of they have to have a currency in line with Kuwait, please don't. That's not a HAVE to either. It may be a want to, but not a have to. Not trying to be harse though I know it sounds that way.

[sneakey]

First of all as far as I can tell, the part of the ch7 that deals with free trade has not been dealt with yet. Second of all the reason that they would theoretically "have to RV" is because once free trade is restored, the entire country could be bought for 1/10 of a penny to the dollar. Would you allow that to happen in the U.S.? China would buy us and evict everyone.

[ROACH]

Good post. I was kind a thinking the same thing.

Hope you get a good explination as to why or why not.

[Inahurry]

China is already at the doorstep looking for a hammer and nail