[tlm724] good afternoon everyone, you all want a status update , take a look at where we stand ??
I have been digging this morning after BondLady broke out the newest article about the CBI and thought I would show you a few things
well let me show that article first
Central Bank implemented a plan in next June to raise the exchange rate of the Iraqi dinar
Post 25 May 2013
BAGHDAD / Center Brief for the Iraqi Media Network (IMN ) A member of the parliamentary Finance Committee that the central bank told us that he will implement a new plan to raise the value of the Iraqi dinar exchange either the U.S. dollar.
A member of the Committee Faleh Djiashi,'s (IMN ) That "the Central Bank told the parliamentary Finance Committee that an action plan will apply early next June, would be enough to raise the exchange rate of the Iraqi dinar against the U.S. dollar."
Read More Link On Right
He added that "the central bank works to reduce the number of companies that deal with it and put the money in the auction which will lead to a reduction in the value of the dollar and reliance on monetary policy open without complicated procedures and controls and a wide open field in front of the government banks."
The Finance Committee has announced the formation of a small committee composed of three deputies to monitor Srvaldanar of Iraq against the dollar, stressing that the practical measures undertaken by the central bank last week led to address the problem gradually.
The parliament may week current governor of the Central Bank and the Agency Abdul Basit Turki and discussed with him the reasons for the high price of the dollar against the dinar. LINK
action plan will apply early next June, would be enough to raise the exchange rate of the Iraqi dinar against the U.S. dollar."
This June, new plan, raise the value ! Doesn't get clearer then that !
I think we have all seen the latest statement from the IMF but let me just show a portion of that in case you didn't read it
IMF "Directors supported the objective of the Central Bank of Iraq (CBI) to liberalize the foreign exchange market and the recent steps to simplify market regulations"
Set it free baby, liberalize !!!! *hallelujah*
after all that great news I decided to look back at the most current articles / statements from the big 4 as I like to refer to them: IMF, World Bank, WTO and the UN, above is the IMF , next lets look at the World Bank
World Bank restructure the Rafidain and Rasheed in order to raise the value of the Iraqi dinar
BAGHDAD / obelisk: counting and Planning Minister Ali Shukri, Sunday, announced the World Bank to start implementing his plans to restructure the government banks Rafidain and Rasheed "It's an important step was waiting for Iraq to raise the value of the dinar."
Said Shukri for "obelisk", "The announcement of the World Bank to begin implementation of its plans to restructure the Rafidain Bank and Rasheed Bank government is an important step had been waiting Iraq," noting that "financial welcomed move the World Bank in this direction because this restructuring will ensure the country make the most of these institutions big human Bakdarathma and expertise accumulated by the cadres and joint coordination to guide these estimators. "
He added that "the Ministry of Finance confirmed that the plans will be the guarantor of restoring Iraqi dinar of his value economic between foreign currencies and this will be part of this plan," explaining that "the banking sector is suffering in general laziness around to institutions consumer is active in the financial sector the most traffic The boom in the economy in general. "
He pointed out that "the World Bank said the Iraqi side that lifted the value of the Iraqi dinar should be a priority as well as he needs to political stability in the country before everything." LINK
World Bank taking care of the restructuring and "It's an important step was waiting for Iraq to raise the value of the dinar."
okay then ! raise the value of the dinar
next is the WTO, we are seeing almost everyday a push for Iraq's accession so here's the latest on that:
Iraq to be represented in WTO by Ministry of Trade
22 May 2013
Khair Allah Hassan Babekir, the minister of Trade of Iraq, will move forward with a team of delegation for representing Iraq in the world of Trade Organization. In a statement, the ministry of trade reported that Iraqi delegation team will participate in a negotiation session for associating Iraq within the World Trade Organization.
The Iraqi delegation team will be formed with representatives of the Iraqi concerned ministries and private sector commissions.
The statement has also added that Iraqi delegation will negotiate with (159) States and will discuss the files which Iraq has accomplished within its strive to join the global organization. Previously, Iraq joined two negotiation sessions and discussed over many topics.
Now it will join a third negotiation meeting and this session is dedicated for the file related to the first presentation for goods after accomplishing it by Iraq. LINK
first presentation for goods, means presenting that list of goods available for trade, its a really big step for Iraq, I would think it would be one of the last steps too
Finally the UN, is Ki-Moon happy yet ? lol
he must be getting pretty warm and fuzzy to do this
Kuwait and Iraq may Tota yesterday a outstanding issues between them, after the approval of the UN Security Council on the proposal of the Secretary-General of the United Nations Ban Ki-moon to conclude an agreement with Iraq to transfer funds Kuwaiti allocated to compensate Iraqi farmers to the Iraqi government, in turn distributed to the beneficiaries LINK
so where are we ?
restructure Rafidain and Rasheed banks, check
UN getting happy, check
Iraq doing its part to join the WTO, check
Baghdad and Erbil agreement and Article 140, check (oil and gas law and budget adjustment just waiting on the legislative changes)
CBI's back up against the wall, check
Monetary/ currency policy crumbling forcing a change, check
New Banking Law at parliament waiting for a vote, check
settling all issues with Kuwait, check
Let me remind you that the GOI has promised to pay the citizens their 25% oil profits in June. There is a good chance these laws Banking, oil and gas could be done imo.
I am sure there are many things I am missing but the big picture is amazing !!