6-11-2012 SWFloridaGuy: This month is an important one for Iraq. In 4 days they have the UNSC meeting. Tariffs go into effect at the end of the month and on the 26th and 27th of June is the World Banking and Financial Summit in London.
Shabibi of the CBI will be speaking and will examine the changing shape of global banking and finance in the light of the macroeconomic imbalances in the world economy. The World Gold Council, DeLaRue company and major banks from around the world will be in attendance. The agenda will explore the key economic factors that will shape the financial industry’s drive for profits and growth in different countries, and consider the prospects of a possible reserve currency system reflecting the surfacing of important emerging economies and the subsequent shift in economic power.
In addition to Dr. Shabibi of the CBI, speakers include international economic decision-makers: economists, academics and other leading monetary figures. I don't expect a RV overnight but I do believe that after the National Meeting, if we see announcements of permanent Ministers, Erbil power sharing and the Strategic Council, the CBI will move ahead with their economic reforms and we could see a higher exchange rate on the IQD.
Read More Link on Right
For some time the IMF and World Bank have instructed the CBI on how to correct abuses, implement policies, improve economic efficiency, and enter the next phase of their currency reform project. Although there are still many areas in need of improvement (as we saw listed at last year's World Bank mtg with the IMF), Iraq has come a long way.
At this point they may just be waiting for the opportune time and a stable political environment that will ensure the success of the project. Stability and inflation have always been key factors. Look for a date announced for the National Meeting and the outcome of the ones I previously mentioned.
I am providing a link for the Conference Overview of the World Bank Financial Summit: