8-27-2012 Dalite (Part 1): Currently, wealth aside, as IMF borrowers and Paris Club debtors, the Exchange Rate must be backed by the Foreign Reserves. You may want to start some exchanges with Shabibi, and offer the other possibilities you have listed here.
But in the meantime, they are limited to the Foreign Reserves to back the exchange rate. Anything is possible, and things can change. backing the exchange rate with the foreign reserves is the current reality. The Census Reports will give an accurate figure for revenue sharing.
Currently, production is not enough to run the GOI, and meet debt obligations. This is very likely to change in the future, but they are currently requiring supplemental borrowing to keep the GOI functioning.
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I sincerely hope that they start producing enough to keep the country advancing and give a portion to their people, as defined by an accurate census.
The currency is pegged to the USD, and cannot be backed by itself. Shabibi's insistence to back 100%. If partial backing was an option, the CBI would not be publishing their ability to back the exchange rate at a percentage greater than 100% that is proportional to the published monetary responsibility.
8-27-2012 Dalite (Part 2): Somewhere, and I can't recall which document it came from, was reference to fully protecting the exchange rate while under the IMF debtor list.
The responsibility of the Paris Club is to have as much debt as possible forgiven. In their case, charity does not begin at home.
In both cases, Iraq's future is dangling by a string that demands repayment. I don't think I have ever seen either organization foreclose on a country before. As with most of their monetary decisions, something would have been done previously if there were no restrictions.
It is probably a moot point, as Maliki has pretty much dug in, and unless he is given a way to vacate his stance that shows him a winner, indications are that he will continue to try to block currency reform.
As you know, if blocking the CBI'S main plan is successful, they may have to move away from it and try another route. And as always, I still say nothing is impossible. I could certainly be wrong.
To me the requirement for full backing without incurring more accumulative debt was one of the "givens" just like the Dinar being pegged to the Dollar.
I am sure you remember how that turned out. Also, now that you think about it, have other IMF/Paris Club debtors been given full monetary autonomy while carrying the debtor status? That may be a good thing to look into.