Since there are so many members much smarter than me, I’ve kept posts, and documents referenced here on PD, from early 2010, that I felt pertinent to an RV. I decided to revisit my files to establish my own opinion as to where we are in the RV process.
I take no credit for the information because it all came from posts by SteveI, OCRush, Hoggy, Juni, CountryGirl, and other members I apologize for not naming.
It also includes research documents such as Executive Order 13303, The Coalition Provisional Authority dated April 29, 2004, Brigadier General Hugh Tant Executive Summary dated October 22, 2004, United States Department of State “The Future of Iraq Project” dated June 22, 2005, and the General Budget Law of the Federal Republic of Iraq for fiscal year 2013.
I also viewed positions and documents from the Paris Club, IMF, WTO, UNSC, UNAMI, UNSC Joint Analysis Policy Unit (JAPU), and news articles posted by Snowflakes, Dare to Dream and Recreational Vehicle and posts by other PD members and contributors.
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You can put a check next to the items you believe to be done. Some items may be resultant of other items. I’m not saying they are done or not, I’m simply giving my opinion as to what I think we need based on facts and opinions of others … some may be done, some may be in process.
I probably confused myself further but to summarize my OPINIONS here is what I think we need to have an RV.
1. Need a GOI according to Power Sharing Agreement; Ministries need to be filled legally and agreed by all parties;
2. Need the Budget to be approved by the Kurds without any encumbrances or “black clouds”;
3. Need an up to date tax system; Minister of Finance
4. Need a sound banking system; including a Governor of CBI
5. Banks need to be capitalized;
6. A productive working relationship with the international banking system; confidence in the country will bring confidence in the currency;
7. Need ascension into the WTO; secure ports and points of entry;
8. Need release of Chapter VII; need Kuwait and UNSC happy;
9. Need STABILITY AND SECURITY (my biggest fear with Maliki shenanigans); Minister of Security
10. Need IMF to move Iraq from Article XIV to Article VIII (as a rule of thumb, Forex traders don't trade Article XIV currencies - they tend to trade currencies where the issuing nation is under an Article VIII Agreement with the IMF.
And an Article VIII Agreement usually means there are No Restrictions on exchange with other currencies. In other words, it means it's a fully convertible currency - convertible into any other currency ….. quoted from Hoggey post June 29, 2011.)
Formal release of Ch. VII would tell me that the world powers see harmony in Iraq, or if not harmony today perhaps in the near future … therefore our key to the RV.