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International Monetary Fund show his conviction for the financial policy for Iraq

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patriotic party girl Newbie

patriotic party girl

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10/8/2011 | (Voice of Iraq) - (Rn) of the Iraqi Central Bank announced on Saturday that there is acceptance of the International Monetary Fund on the Iraq political cash. The deputy governor of Central Bank of Iraq the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the Fund International Monetary convinced that monetary policy in the country heading trend is true is commensurate with the reality of the Iraqi economy. " He added that "the central bank follows the monetary policy to reduce inflation and provide cover for the local currency and controls economic commensurate with the fiscal policy pursued in Iraq." He noted that "the bank Central review continuously Ssayasth cash and mechanisms for the dependents of annual inflation and gaps facing the use of foreign currency and local communities in the country. " and said the Iraqi Central Bank last Thursday, the high reserves of financial $ 8 billion since the beginning of this year, indicating that the reserve was 50 billion last year and is now to 58 billion. Officials in the Iraqi Central Bank to increase reserves is a sign of the maturity of monetary policy and its development and consistency with fiscal policy in the country. and is keen to address the gaps in the economic circulation of local and foreign currency. indicates the central bank reserve bank is not stagnant or stock is used in the open market in order to achieve a balance between liquidity and demand in the local currency traded. From: Jafar Allonan, the Open: Peace Baghdadi

http://www.sotaliraq.com/business.php?id=4225

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ssmith Newbie

ssmith

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I wonder how many countries can show growth in their reserves. That is very encouraging when they talk openly about it, like maybe to say we have the funds now and futures to support an RV! Thanks for the post I also hope this means what you think it means! GO RV!!!!!!!

I agree , very good post..

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Dinar_o'saurs Newbie

Dinar_o'saurs

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10/8/2011 | (Voice of Iraq) - (Rn) of the Iraqi Central Bank announced on Saturday that there is acceptance of the International Monetary Fund on the Iraq political cash. The deputy governor of Central Bank of Iraq the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the Fund International Monetary convinced that monetary policy in the country heading trend is true is commensurate with the reality of the Iraqi economy. " He added that "the central bank follows the monetary policy to reduce inflation and provide cover for the local currency and controls economic commensurate with the fiscal policy pursued in Iraq." He noted that "the bank Central review continuously Ssayasth cash and mechanisms for the dependents of annual inflation and gaps facing the use of foreign currency and local communities in the country. " and said the Iraqi Central Bank last Thursday, the high reserves of financial $ 8 billion since the beginning of this year, indicating that the reserve was 50 billion last year and is now to 58 billion. Officials in the Iraqi Central Bank to increase reserves is a sign of the maturity of monetary policy and its development and consistency with fiscal policy in the country. and is keen to address the gaps in the economic circulation of local and foreign currency. indicates the central bank reserve bank is not stagnant or stock is used in the open market in order to achieve a balance between liquidity and demand in the local currency traded. From: Jafar Allonan, the Open: Peace Baghdadi

http://www.sotaliraq...ess.php?id=4225

Look at what the IMF is saying about the CBI.

Here is the same article from a different news source. Link

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Dalite Newbie

Dalite

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I wonder how many countries can show growth in their reserves. That is very encouraging when they talk openly about it, like maybe to say we have the funds now and futures to support an RV! Thanks for the post I also hope this means what you think it means! GO RV!!!!!!!

Very few countries are where Shabibi has taken Iraq.

By their own words, the foreign reserves, now equal to the equivalent of $58 Billion USD are 110% of their liability .

They have also stated they plan to build reserves in the future to $70 billion; giving us a glimpse at where Shabibi sees the economy growing to.

None of this even acknowledges the need, desire, or intentions to utilize any form of Fractional Reserve banking; now, or in the future.

They can currently support an RV of 10%.

If Shabibi decides to sacrifice the economic stability that the IMF is praising them about, he could go higher than 10%.

The article speaks volumes about the direction is taking Iraq...

Unless he decides to abandon the concept of fully backing the currency ("provide cover for the local currency"), there has to be another mechanism to place the Dinar on parity with the Dollar ("address the gaps in the economic circulation of the local and foreign currency")

He added that "the central bank follows the monetary policy to reduce inflation and provide cover for the local currency and controls economic commensurate with the fiscal policy pursued in Iraq."

The quote above leads me to believe that there are no plans to RV above what the CBI can back.

Maybe there is some other plan for their currency out of Iraq, but Shabibi lays out his numbers for everyone to see, and the IMF concurs with his policies, and vision, for Iraq.

I would love to see another way to interpret this data, and am certainly open for corrections, or further insight...

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shellbell Newbie

shellbell

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Very few countries are where Shabibi has taken Iraq.

By their own words, the foreign reserves, now equal to the equivalent of $58 Billion USD are 110% of their liability .

They have also stated they plan to build reserves in the future to $70 billion; giving us a glimpse at where Shabibi sees the economy growing to.

None of this even acknowledges the need, desire, or intentions to utilize any form of Fractional Reserve banking; now, or in the future.

They can currently support an RV of 10%.

If Shabibi decides to sacrifice the economic stability that the IMF is praising them about, he could go higher than 10%.

The article speaks volumes about the direction is taking Iraq...

Unless he decides to abandon the concept of fully backing the currency ("provide cover for the local currency"), there has to be another mechanism to place the Dinar on parity with the Dollar ("address the gaps in the economic circulation of the local and foreign currency")

The quote above leads me to believe that there are no plans to RV above what the CBI can back.

Maybe there is some other plan for their currency out of Iraq, but Shabibi lays out his numbers for everyone to see, and the IMF concurs with his policies, and vision, for Iraq.

I would love to see another way to interpret this data, and am certainly open for corrections, or further insight...

And why are you here? If I thought like you I would sell my dinar and move on to another investment. This forum and any research would be a complete waist of time. Most of us believe we will see a large ROI. I remember in the old days people would say there will never be an rv but will be a slow grow. What happened to all those people who felt that way? I guess they sold their dinar and moved on because we have seen 1170 for several years now. If you research wars most were funded by currency rv's. It is just a miracle that we have this opportunity.

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dhardage Newbie

dhardage

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And why are you here? If I thought like you I would sell my dinar and move on to another investment. This forum and any research would be a complete waist of time. Most of us believe we will see a large ROI. I remember in the old days people would say there will never be an rv but will be a slow grow. What happened to all those people who felt that way? I guess they sold their dinar and moved on because we have seen 1170 for several years now. If you research wars most were funded by currency rv's. It is just a miracle that we have this opportunity.

and to others, a 10% increase is fine for the amount of time invested. Can we not listen to one's opinion without the "why are you here" question? What is a significant amount to some may not be to others. a person who invests 100.00 may see a 10% as 10.00, who cares? While someone who invests several thousand, would be fine with a few hundred. We all have our own view as to what we will "accept and be happy with". I do not need to make millions on my investment for it to be worth it to me, and i believe that it is my right to say so without people questioning my motives for being here.

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Dalite Newbie

Dalite

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And why are you here? If I thought like you I would sell my dinar and move on to another investment. This forum and any research would be a complete waist of time. Most of us believe we will see a large ROI. I remember in the old days people would say there will never be an rv but will be a slow grow. What happened to all those people who felt that way? I guess they sold their dinar and moved on because we have seen 1170 for several years now. If you research wars most were funded by currency rv's. It is just a miracle that we have this opportunity.

I am here because I own dinar.

If you have an aversion to mathematics or truth, put me on ignore.

I have many investments; this is just one of them. If I thought like you do, I would jump out of a window every time gold or silver took plunges like it has the past two weeks.

I know the dinar will rise in value over time; just as I believe precious metals will also show overall gains in the next decade.

When the housing bubble burst, I lost 100k; almost a third of the cost of the house. Luckily, it was paid for..

I didn't go out on a campaign to tell folks that acknowledged losses on housing to go live under a piece of tin leaned against a tree.

I am not sure what you mean about wars being funded by currency RV? If that was so, they would make money, and Iraq would be the richest country in the world...

I left an open invitation for corrections or additional insight. I didn't ask for temper tantrums.

There is no miracle here. This is no different than speculation on the Dong, Yuan, or any currency from an emerging society.

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RodandStaff Rookie

RodandStaff

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The quote above leads me to believe that there are no plans to RV above what the CBI can back.

Maybe there is some other plan for their currency out of Iraq, but Shabibi lays out his numbers for everyone to see, and the IMF concurs with his policies, and vision, for Iraq.

I would love to see another way to interpret this data, and am certainly open for corrections, or further insight...

Dalite... I appreciate your input. I have an honest question, and I will start with saying I have no "economics degree".. actually I think that can sometimes stand in the way of the obvious... if you catch my drift. I have been a businessman for 28+ yrs... that, and a bit of research has led me to understand that in America anyway nothing is really "backed" by anything, with fractional banking, printing presses run a muck, and national debt that surpasses what several generations could ever possibly repay!

So here is the basic, simple, but complicated question.... why should it be any different for Iraq? If we are so influential in their country, and they are following our lead, and I am serious now... why would we even think that they would be on any better standing than us? ... the so called "leader of the pack", and do anything different than us? If this "hair brained" kind of thinking proves true... the question would then be not "what will they revalue to".. but "what won't they RV too".. if you catch my drift?

Interested in a break down of these thoughts. I know, a lot of folks wanna dodge this line of thinking, and not really admit the shape we are in here in the good ol' USofA... but I done said it!... call me crazy, or whatever, but seriously is this "not a possibility"??? huh.gif

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Sanssouci Newbie

Sanssouci

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Maybe there is some other plan for their currency out of Iraq, but Shabibi lays out his numbers for everyone to see, and the IMF concurs with his policies, and vision, for Iraq.

I would love to see another way to interpret this data, and am certainly open for corrections, or further insight...

Oil credits, mineral wealth. It is the new "gold standard" for the future.

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Dalite Newbie

Dalite

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Dalite... I appreciate your input. I have an honest question, and I will start with saying I have no "economics degree".. actually I think that can sometimes stand in the way of the obvious... if you catch my drift. I have been a businessman for 28+ yrs... that, and a bit of research has led me to understand that in America anyway nothing is really "backed" by anything, with fractional banking, printing presses run a muck, and national debt that surpasses what several generations could ever possibly repay!

So here is the basic, simple, but complicated question.... why should it be any different for Iraq? If we are so influential in their country, and they are following our lead, and I am serious now... why would we even think that they would be on any better standing than us? ... the so called "leader of the pack", and do anything different than us? If this "hair brained" kind of thinking proves true... the question would then be not "what will they revalue to".. but "what won't they RV too".. if you catch my drift?

Interested in a break down of these thoughts. I know, a lot of folks wanna dodge this line of thinking, and not really admit the shape we are in here in the good ol' USofA... but I done said it!... call me crazy, or whatever, but seriously is this "not a possibility"??? huh.gif

Rod,

The US has led the rest of the world to near collapse by using the advantage of being the worlds reserve currency as a means of economic terrorism. They have near abouts drove the wheels off this approach, and it will bite us in the backside.

Having said that, the US has a method. The Fed can print money, and keep it stacked like cord wood. It has no value until it is loaned into the economy. This happens when a treasury bond is sold, giving value to a corresponding amount of freshly minted paper from the fed.

Shabibi has stated that the CBI will resume bond sales next year. To me, that is somewhat promising.

But, in the realm of the here and now, Iraq has a number of restraints.

The Paris Club is financing the debt that was not forgiven. It is amortized for 20 to 30 years; dependent on the payment path Iraq takes. While the Paris Club cannot prevent Iraq from inflating away it's debt by using fractional reserve practices, they can certainly make it so Iraq will never again have benefit of their services. Potential investors will take note, and act accordingly.

The IMF has some very specific guidelines for their debtors; of which Iraq is one. They have very specific limitations on currency that is hard pegged to another country's currency. While Iraq is beholding to the IMF, I don't believe fractional reserve banking is an option. Also, there are strict limits on the percentage of increase and the time duration between value increases that would limit changes to below 10% every 90 days. By some accounts, it is limited to 2%.

I have learned to never say never, and it is rare for you to ever see me speaking in superlatives. I have no control of the situation, and can only rely on the accounting of those who do. For that reason I won't say it can or can't do something, only relay an interpretation of the CBI's stated intentions, and what governs them. The math part is easy, as it is externally defined, and there is only one solution for an equation with known variables. In this case, 110%, 58 billion, backing the exchange rate, Paris Club and IMF provide some numbers to work with.

When Iraq has paid off the Paris Club, and is no longer beholden to the IMF, they will clearly be in the driver's seat. For the present time, utilizing some of the banking tools that always eventually cause failure would be like getting caught wrecking the family cay that you snuck out when the parents were asleep.

There are always options. I try to call it like I see it, but I do realize that I don't have the ability to see it all.

Presently, as long as Iraq can avoid collapsing into civil war, any and all resistance to the CBI plan to ReDenominate will ultimately force Shabibi to increase the value as a means to keep inflation in check. Every small increase offsets a little more of the spread we paid when we purchased. The way I am seeing it now, anything of an increase that puts me in the plus column is incentive to continue holding out for a better deal.

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allottinger Newbie

allottinger

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(Rn) of the Iraqi Central Bank announced on Saturday that there is acceptance of the International Monetary Fund on the Iraq political cash.

Read more:

Is it just me or does that sound like the Iraqi currency has been accepted for international exchange?

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Dalite Newbie

Dalite

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and to others, a 10% increase is fine for the amount of time invested. Can we not listen to one's opinion without the "why are you here" question? What is a significant amount to some may not be to others. a person who invests 100.00 may see a 10% as 10.00, who cares? While someone who invests several thousand, would be fine with a few hundred. We all have our own view as to what we will "accept and be happy with". I do not need to make millions on my investment for it to be worth it to me, and i believe that it is my right to say so without people questioning my motives for being here.

Dhardage,

Thanks for being pragmatic and keeping an open mind about the possibilities.

I appreciate your understanding, and I do sincerely hope for a very nice outcome in the future on what we hold today.

Every day, I look for that one thing that I may have missed before to make me understand that the reward could be sooner, or larger.

The day I stop doing that, may be the one that determines why I post or try to share another point of view.

Thanks again...

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patriotic party girl Newbie

patriotic party girl

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(Rn) of the Iraqi Central Bank announced on Saturday that there is acceptance of the International Monetary Fund on the Iraq political cash.

Read more:

Is it just me or does that sound like the Iraqi currency has been accepted for international exchange?

thats what i was praying for guess not but i thought the same thing :D

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