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guardian
03-31-2011, 12:03 AM
IMF Suggests Stable Iraqi Dinar (http://www.iraq-businessnews.com/2011/03/30/imf-suggests-stable-iraqi-dinar/)

Posted on 30 March 2011. Tags: IMF (http://www.iraq-businessnews.com/tag/imf/), International Monetary Fund (http://www.iraq-businessnews.com/tag/international-monetary-fund/), IQD (http://www.iraq-businessnews.com/tag/iqd/), iraqi dinar (http://www.iraq-businessnews.com/tag/iraqi-dinar/), Redenomination (http://www.iraq-businessnews.com/tag/redenomination/), revaluation (http://www.iraq-businessnews.com/tag/revaluation/)

http://www.iraq-businessnews.com/wp-content/themes/IBN-Theme/thumb.php?src=http://www.iraq-businessnews.com/wp-content/uploads/2011/03/IMF-International-Monetary-Fund-logo1.gif&w=250&h=180&zc=1&q=90 (http://www.iraq-businessnews.com/wp-content/uploads/2011/03/IMF-International-Monetary-Fund-logo1.gif)

A report on Monday by the International Monetary Fund (IMF) suggests that the Iraqi dinar is currently fairly valued at 1170 dinars to the US dollar:

“The CBI [Central Bank of Iraq] will continue to aim at keeping inflation low, predominantly by maintaining a stable exchange rate. The low level and the relative stability of inflation do not suggest any significant over- or under-valuation of the Iraqi dinar. Also, a stable exchange rate continues to provide a solid anchor for the public’s expectations in an otherwise highly uncertain environment and in an economy with a very low level of financial intermediation.”

The report continues, “Meanwhile, the CBI will continue to keep its policy interest rate positive in real terms. To enhance mobilization of domestic financing, limitations on state-owned banks’ use of government deposits for investing in Treasury bills have been reduced, while the pension fund has also been allowed to invest in Treasury bills and to participate in auctions directly.”

It also allows for the possibility of an upward drift in the value of the dinar over the years:

“Staff supports the CBI’s policy of managing the exchange rate of the Iraqi dinar to keep inflation low. A stable exchange rate continues to provide a solid anchor for the public’s expectations in an otherwise highly uncertain environment. Over time, rising oil revenues could put upward pressure on the real exchange rate, which would warrant allowing greater exchange rate flexibility.”



http://www.iraq-businessnews.com/2011/03/30/imf-suggests-stable-iraqi-dinar/ (http://www.iraq-businessnews.com/2011/03/30/imf-suggests-stable-iraqi-dinar/)

guardian
03-31-2011, 12:06 AM
I don't think so...:(

They need purchasing power.;)

402raptor
03-31-2011, 12:43 AM
This is bull sh*t they must think they have to feed us this garbage before they pull the trigger to avoid speculation or paying out to much well to late i dont think were all gonna up and sale back our dinar, the inflation is so damn high because your currency value is way to low.sorry not workn w/ me cant bull sh*t a bull sh*tterr
thanks guardian

PHmichael
03-31-2011, 12:49 AM
dont like seeing this one,,, but ty guardian ,,,,

Med
03-31-2011, 12:51 AM
This is the reason they called for an rv....because inflation is not under control.....and the rising prices of goods is not being held in check by the rate of exchange of the dinar......and it was the IMF who applauded CBI and their decision to remove 3 zeros from the nominal value of the currency......I feel like I am in a pull the pedals on daisy contest....she loves me she loves me not.....I feel a headache coming on.....lol

402raptor
03-31-2011, 12:56 AM
Yep smoke and mirriors i think Med

Perez
03-31-2011, 01:13 AM
Guardian, remember the charts on the documents we have been researching --- multiple exchange rates with multiple names --- including real exchange rate lol

402raptor
03-31-2011, 01:18 AM
How can the IMF say revalue the dinar is a stipulation for art. 8, and then this come out

guardian
03-31-2011, 04:39 AM
Guardian, remember the charts on the documents we have been researching --- multiple exchange rates with multiple names --- including real exchange rate lol


Yeah, and the IMF/Iraq Second Review Standby Arrangement - March 2011 saying the opposite of the article.

I wonder who wrote the article? They didn't even have the, i'll say fortitude, to put their name.

402raptor exactly!

SallyDS
03-31-2011, 04:47 AM
I haven't found the IMF report this article 'quotes' anyone else locate it?

Med
03-31-2011, 04:49 AM
Finance: Delete the zeros of the local currency enhances the value of the Iraqi dinar in the International Monetary Fund

Saturday, 20 - 11-2010 Palms - The Ministry of Finance that the "deletion of zeros from the local currency will liberate the Iraqi economy from the constraints and enhance the value of the Iraqi dinar" in the International Monetary Fund.

The chancellor said the Ministry of Finance Zia Alckheon that the survival of the current currency and the current status would not address the question of the economic gap taking place in the Iraqi dinar as it will increase the burden on the local economy.

The International Monetary Fund expressed support for the Iraqi economy in the event of having a number of economic measures, including privatization of banks and raise three zeroes from the currency and solvency.

http://translate.googleusercontent.c...uktwUYnjwnBUTg (http://translate.googleusercontent.com/translate_c?hl=en&sl=ar&tl=en&u=http://www.nakhelnews.com/pages/news.php%3Fnid%3D3660&rurl=translate.google.com&usg=ALkJrhi5o8uAMsl2PdyfuktwUYnjwnBUTg)

Med
03-31-2011, 04:50 AM
Can you say............


Contradiction!!!!

guardian
03-31-2011, 05:56 AM
I haven't found the IMF report this article 'quotes' anyone else locate it?


It was never there, as far as I know. I got this message:

404 | Page Not Found!

Sorry, but the page you were looking for is not here.



I seriously think it was a ruse. :(

SallyDS
03-31-2011, 06:14 AM
I was wondering about that, but I think this is a reputable publication...I wonder if they were duped

SallyDS
03-31-2011, 06:38 AM
OK I found the quote. It is from the report published last Sept. http://www.imf.org/external/np/loi/2010/irq/091810.pdf
It is at the end of the second paragraph on page 3 of the pdf and applies to a general strategy for 2010 and 2011
IMO the article posted above uses the wrong source citation and misuses the quotation cited.
whether that was intentional is another issue...

guardian
03-31-2011, 06:41 AM
I was wondering about that, but I think this is a reputable publication...I wonder if they were duped


Oh now I see how they are. The naysayer story came from there (iraq-businessnews.com (http://www.iraq-businessnews.com)) "Iraqi Dinar Revaluation Enthusiasts are Unaware of Bernie Madoff's Fame". That says alot about the website.

guardian
03-31-2011, 06:51 AM
iraq-businessnews.com dba iraq-Enquirer :p

Med
03-31-2011, 07:09 AM
Great job on the research....so they used an outdated article months later....when they knew that the IMF had totally done a 180 on this....and as we know the IMF chastised the Central Bank for a failing monetary policy.....and did they not demand it be changed or no more money......yes they did.....ok gang we can put this one to bed and give it a slap for a good night.....

Newlife
03-31-2011, 07:12 AM
So what were the smaller notes for?

Randy_Christine
03-31-2011, 08:30 AM
Wow, impressive research! Have you ever thought of looking for Jimmy Hoffa? Bet you could find him! LOL

Thanks so much to all who make this site the place to be.

Med
03-31-2011, 10:25 AM
they never said smaller notes....they said coins.....they issued coins at a time when the dinar was about 3000 to 1 usd......and they were not worth carrying around so noone used them......it was a blunder by Shabibi....and eventually they auctioned off all the coins for next to nothing....losing millions.....

WildfireI
03-31-2011, 03:07 PM
If and I mean IF, this is the IMF'S position on the IQD and Iraq wants to do international business deals. They are going to have to get the world to accept the IQD as a tradeable currency and print dinars of significantly higher denominations than they currently use. No one is interested in carrying around huge treasure chest of dinars to make a purchase. Indeed should the IMF'S postion be that the IQD does not justify an increase in value, I for one would certainly like to know. The vail of question and mystery of a possible RV would be removed.