DRV1804 Posted June 23, 2011 Report Share Posted June 23, 2011 A new strategy for the restructuring of the Iraqi currency Groups of Iraqi currency 23.06.2011 Hasan Rashid The Central Bank of Iraq was completed a new strategy for the restructuring of the local currency, having formed the mainstay of the monetary policy of the country's economy over the past eight years, through to maintaining the stability of the dinar against other currencies. The Central Bank adviser says the appearance of Mohammad Saleh said in an interview to radio free Iraq that the Bank was preparing to launch new strategy commensurate with the Iraqi currency strength and the positive developments in the Iraqi economy awaits. According to data of the Central Bank of Iraq is deliberated about 29 trillion dinars over five trillion paper cash, cash describes valid block too big, noting that the implementation of the strategy need the approval of the Government and Parliament because they relate to crucial national command. The new strategy includes several steps in favour of a big cash categories up to the equivalent of 100 dollars, and other small including coins. For its part says the Chairman of the Finance Committee in the former House of Alaa Al-saadun, the current situation of the Iraqi currency and its stability is geared to conduct restructuring. But saadun indicates that this measure alone is not enough to push the Iraqi economy, but must move the wheel overall national development, particularly with regard to activate the role of the private sector. http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http://www.iraqhurr.org/content/article/24244473.html There is audio that goes with this if you click on the link 3 Link to comment Share on other sites More sharing options...
Bongalow Posted June 23, 2011 Report Share Posted June 23, 2011 FACTS TO ADD ON IF YOU DO NOT MIND!! FROM IMF B. Monetary and Exchange Rate Policy 14. The authorities remain committed to ensuring the independence of the CBI. A ruling by Iraq’s Federal Supreme Court also noted that while the CBI is part of the country’s executive apparatus, it is by law independent in its decisions and operations. Total government and public sector deposits 29.2 TRILLION DINAR The DFI and associated immunities were extended by the UN Security Council to end- June 2011. The authorities remain committed to establishing a successor mechanism that includes a single oil revenue account that would be subject to the same principles of accountability and transparency as currently apply to the DFI. In the meantime, the authorities continue to make progress in addressing remaining claims and liabilities from the Saddam-era and will ensure that they maintain appropriate legal counsel to handle any further claims that may emerge (a new continuous structural benchmark). The reviews of government bank accounts and the stock of advances clearly show the need to move toward introducing a single treasury account (STA). The authorities--single treasury acct = dinar instead of $'s share this view. As a first step of moving ahead with what will be a lengthy process, staff of the Fund and the Bank will assist the authorities with advancing the process for establishing a Financial Management and Information System (FMIS), an important step in the process of moving toward a STA, by helping to determine a set of core functionality requirements (a new benchmark for end-May 2011). As a transition to a STA, the authorities also plan, with the assistance of Fund technical assistance, to streamline cash management in the short run already by granting a larger role to the CBI in the Treasury’s banking arrangements and thus to reduce outstanding cash balances (a new benchmark for end-June 2011). *This last part is talking of the fact of removing the large (25k notes) outstanding cash balances and bringing in a STA (single treasury not dual (dinar only) NO dollar* Well here we are in the END of JUNE.... Hang on Folks... This could get interesting!! Roll RV http://www.imf.org/e...2011/cr1175.pdf 6 Link to comment Share on other sites More sharing options...
R Veyron Posted June 23, 2011 Report Share Posted June 23, 2011 Good post, thanks.. What Im not completely in understanding is that with this portion of the article, "New Strategy to commensurate with the Iraqi currency strength and the positive developments in the Iraqui economy awaits", How does a Lop help in doing this? It seems like there are contradicting articles out and trying to see how a Lop will benefit them escapes me. Link to comment Share on other sites More sharing options...
DRV1804 Posted June 23, 2011 Author Report Share Posted June 23, 2011 Good post, thanks.. What Im not completely in understanding is that with this portion of the article, "New Strategy to commensurate with the Iraqi currency strength and the positive developments in the Iraqui economy awaits", How does a Lop help in doing this? It seems like there are contradicting articles out and trying to see how a Lop will benefit them escapes me. I know, with the article this morning that everyone was having a panic attack over I was reading everyones insight and staying open minded. I believe me im not one of those dead set one way or the other if its going to LOP or NO LOP, but I cant wrap my head around how it would benefit anyone to LOP...and the last couple articles suggest otherwise.... what irritates me is whenever a positive article is posted basically discrediting the LOP you dont see the "normal" LOPsters commenting!! 2 Link to comment Share on other sites More sharing options...
Hesalwayswithus Posted June 23, 2011 Report Share Posted June 23, 2011 This thing has been a wild rollercoaster ride the last couple days. Articles contradicting articles, people getting impatient, Shabs said this and it means 2 different things... I don't think anyone truly knows what's about to happen. I would like to believe that we are going to have the opportunity to trade in our 25k IQD notes for the same amt of USD....but who knows at this point! I think I need an advil after todays posts.... 1 Link to comment Share on other sites More sharing options...
Liljohn Posted June 23, 2011 Report Share Posted June 23, 2011 FACTS TO ADD ON IF YOU DO NOT MIND!! FROM IMF B. Monetary and Exchange Rate Policy 14. The authorities remain committed to ensuring the independence of the CBI. A ruling by Iraq’s Federal Supreme Court also noted that while the CBI is part of the country’s executive apparatus, it is by law independent in its decisions and operations. Total government and public sector deposits 29.2 TRILLION DINAR The DFI and associated immunities were extended by the UN Security Council to end- June 2011. The authorities remain committed to establishing a successor mechanism that includes a single oil revenue account that would be subject to the same principles of accountability and transparency as currently apply to the DFI. In the meantime, the authorities continue to make progress in addressing remaining claims and liabilities from the Saddam-era and will ensure that they maintain appropriate legal counsel to handle any further claims that may emerge (a new continuous structural benchmark). The reviews of government bank accounts and the stock of advances clearly show the need to move toward introducing a single treasury account (STA). The authorities--single treasury acct = dinar instead of $'s share this view. As a first step of moving ahead with what will be a lengthy process, staff of the Fund and the Bank will assist the authorities with advancing the process for establishing a Financial Management and Information System (FMIS), an important step in the process of moving toward a STA, by helping to determine a set of core functionality requirements (a new benchmark for end-May 2011). As a transition to a STA, the authorities also plan, with the assistance of Fund technical assistance, to streamline cash management in the short run already by granting a larger role to the CBI in the Treasury’s banking arrangements and thus to reduce outstanding cash balances (a new benchmark for end-June 2011). *This last part is talking of the fact of removing the large (25k notes) outstanding cash balances and bringing in a STA (single treasury not dual (dinar only) NO dollar* Well here we are in the END of JUNE.... Hang on Folks... This could get interesting!! Roll RV http://www.imf.org/e...2011/cr1175.pdf EXCELLENT POST! LOOKS GOOD! NOW LETS GET IT DONE. GOD BLESS!!! LORD SEND THE RAIN!!! 1 Link to comment Share on other sites More sharing options...
Kanga Posted June 23, 2011 Report Share Posted June 23, 2011 EXCELLENT POST! LOOKS GOOD! NOW LETS GET IT DONE. GOD BLESS!!! LORD SEND THE RAIN!!! Also God pleasae send much needed rain to Arizona, New Mexico, and Texas. We are burning up down here. 2 Link to comment Share on other sites More sharing options...
af4mi Posted June 23, 2011 Report Share Posted June 23, 2011 Very good Bong. Thanks. Link to comment Share on other sites More sharing options...
NWGUY Posted June 23, 2011 Report Share Posted June 23, 2011 No lopster for me!!! Just the meat and potato's, bread and butter, dollars and cents! It will RV, pure and simple! GO RV!! 1 Link to comment Share on other sites More sharing options...
Hesalwayswithus Posted June 23, 2011 Report Share Posted June 23, 2011 The most logical way for Iraq to receive foreign investment into the country would be to please the rest of the world.... by shafting everyone they would not be pleasing the rest of the world. If this thing did RV and I had an amazing return on it, I would actually consider investing a little in the country, or at least business there, knowing that they are heading in the right direction with growth ahead. If myself and everyone else gets 0 return, they will never see a dollar from us and likely not from any individual investors either. Can't see how it's even a possibility that they would destroy some of the relationships with other countries that they have gained over the last several years. 1 Link to comment Share on other sites More sharing options...
DRV1804 Posted June 23, 2011 Author Report Share Posted June 23, 2011 No lopster for me!!! Just the meat and potato's, bread and butter, dollars and cents! It will RV, pure and simple! GO RV!! AGREED!!!! Link to comment Share on other sites More sharing options...
DinarProwler Posted June 23, 2011 Report Share Posted June 23, 2011 Please add Oklahoma in that rain prayer. 106 today!!!! Thanks! 1 Link to comment Share on other sites More sharing options...
Hesalwayswithus Posted June 23, 2011 Report Share Posted June 23, 2011 Please add Oklahoma in that rain prayer. 106 today!!!! Thanks! It sure is a spicy one in Oklahoma today! I'm just about sweating from looking outside into the heat haha. Link to comment Share on other sites More sharing options...
MovieMaker Posted June 23, 2011 Report Share Posted June 23, 2011 Climbing UPHILL fast! Looking good! Go RV 1 Link to comment Share on other sites More sharing options...
Babosa Posted June 24, 2011 Report Share Posted June 24, 2011 Is this not what we were looking for? we wanted them to announce lower denoms, And with coins even? sounds like about a 1 to 1 w/ the dollar and i'm fine with that. GO RV!!!!! Link to comment Share on other sites More sharing options...
Serenity Posted June 24, 2011 Report Share Posted June 24, 2011 Is this not what we were looking for? we wanted them to announce lower denoms, And with coins even? sounds like about a 1 to 1 w/ the dollar and i'm fine with that. GO RV!!!!! Sounds like an announcement to me.......... Link to comment Share on other sites More sharing options...
SPRAYERDUDE Posted June 24, 2011 Report Share Posted June 24, 2011 Replacing the large bills with lower denominations is what we have been waiting for and is not a LOP. As time goes on they will pull in all denominations over $100.00 a very similar paper money denomination scale as the U.S. The stages will allow us to ride the lower bills longer as the value grows GO RV !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Link to comment Share on other sites More sharing options...
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