_Frank & Kaperoni both state that Article VIII is a major key to the release of the RV. Both believe that we are within a 30 day window before we see the rate released. Per Frank on his 2/15/12 CC Iraq accepted the demands/responsibilities of Article VIII via an LOI to the IMF on 2/15/12. Iraq has 30 days from the date of their LOI to raise the value of their currency.
Kaperoni's comments on Article 8 are below:
kaperoni: “Deputy Central Bank of Iraq that "Iraq frees the current account of the balance of payments and this commitment to International Monetary Fund agreement in article VIII, but at the same time edit account does not mean market but there are controls injected called market discipline being applied".
kaperoni: This is huge! This appears to me the CBI is in the process of changing from IMF Article 14 to Article 8. Article 8 is key to them releasing the dinar and making it internationally recognized and tradeable.
Read More Link on Right
_ kaperoni: They are stating here they are conforming to these requirements. Now supplying balance of payment (BOP) to the IMF. It appears the quote also is saying we are doing this under controls or market discipline, which is the “Basel Compliance” or regulations.
kaperoni: Now if you go to the IMF website…click on Country Info, then choose Iraq, then find on the left where it says “Iraq’s position in the fund” and click it. It will take you to the financial position in the Fund as of January 31, 2012 for Iraq.
kaperoni: On the right side it says Iraq is still in Article 14 represented by…Article XIV. If you click on this, you will find that the link no longer works. It says “page not found.” Is this a coincidence?
kaperoni: It appears to me that Iraq is about to officially accept Article 8.