Article: “CBI ANNOUNCES RAISING THE VALUE OF THE DINAR“
Good to see a new RV Article!
It’s been awhile – not since ISIS, has the CBI made any serious announcement of raising the value of the Dinar.
The IMF’s two LOIs, both last December and June, mapped out steps for the CBI and the Minister of Finance to take in order to receive the loans.
In the December LOI, the IMF projected that Iraq would join the international world “by mid-year.”
That was curious because the plan to rid Iraq of ISIS was also being formulated on a timeline with Mosul scheduled for liberation Oct-Winter.
The plan to get rid of ISIS has to include the Monetary Reform in order to finally win the peace.
Maybe the IMF’s plan was just get Iraq ready to RV by mid-year when most of ISIS outside of Mosul was under control at this point, it seems like they have to wait to gain control over the Mosul.
In any event, prior to the RV, we can expect to see some “peppering” of articles going over the plan to delete the zeroes and raise the value.
In the past when Shabibi prepared to RV, he did work the press to educate the people on his plan.
In this article, it’s stating that the RV would happen once Mosul was freed from ISIS.
Liberating Mosul includes a very complex political agreement with the Kurds and most likely, needs to include the HCL law being passed.
I was very encouraged when in August an Article 140 territory dispute had a negotiated agreement to split the oil fields.
I believe an agreement for Mosul’s oil has also been reached but not announced.
I’ve always been of the opinion that the IMF prefers to RV on a Thursday in the Spring, so I’m again looking at the last Thursday in March, March 30 – April 27, 2017, which is after Mosul would be liberated.
THE IMF HISTORICALLY HAS RV’d IN APRIL.
There’s still a lot to get done politically. Abadi has to get his technocrat Ministers appointed.
This was scheduled to be done last Spring.
The GOI still hasn’t passed important laws.
The LOI also states that CBI needs to cut out the use of multiple currencies (USD) by “the end of the year.”
The Kurds have to actually vote in the HCL.
Looking at what still needs to get done, Spring 2017 seems realistic, and between now and the RV, we should expect more RV articles appearing.
IMO, the CBI can RV with the BIS and IMF’s approval at any date and rate.