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The reason why I see it happening in the last week of june (today) to 1st week of july (5th) is this:

1.We have worked with IMF staff to complete the review of exchange laws and regulations and are considering measures to remove the identified exchange restrictions on current international transactions.

2. In this regard, we formed a Bank Reconciliation Unit that comprises technical level staff from the banks, the CBI and the Ministry of Finance, and with the assistance of Ernst and Young (who were the agents of the Ministry of Finance in the external debt restructuring process) to: (i) deal with all legacy external liabilities taking into account the government’s actions in the context of Iraq’s external debt restructuring (ii) indentify and propose to write-off non-performing loans to defunct state-owned enterprises; (iii) propose a course of action for other remaining unreconciled accounts; and (iv) after the balance sheets have been cleaned up, revalue the remaining foreign currency denominated balance sheet items.

3. The CBI will follow the guidelines to diversify currency composition and establish an appropriate duration and credit risk profile, and build capacity for risk analysis.

I encourage everyone to review this letter and contrast its content to the economic reality of revaluation as not just a pipe dream but a documented FACT as outlined.

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this thread was started by BBalls who is an advance member and has been here since November 2010

You are correct!!! He also said that he didn't know if the UN meeting would mean anything for us.

The Newbie that I was referring to, was in reference to a Newbie asking if this was an announcement of an RV. I think you just misunderstood my comment.

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I believe that they said they were meeting in Amman, Jordan, didn't they? Why would you be watching the UN website, broadcast from New York City?

I'm starting to believe that if your negative points are more than your number of posts at any month end, you should be exiled for the next month........just sayin'......

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I don't believe that at all!!!!!

I think people are just hoping to hear something positive regarding IRAQ!!!

After all, gathering little bits and pieces of information, is our method of forming our own options. We have that right!!!!!

Most of us know that an initial announcement WON'T come from the UN. It will come from CBI, IMO and it WON'T be on a webcast.

The inquiry, about this being RV related, came from a Newbie, which is understandable.

Jolly Roger, thank you for the logic. It is so rare around here these days.

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