_DT 4-15-2012 Robin: I was an Inspector and Auditor for the US Government over in Iraq, overseeing the money being spent to rebuild the country, investigating financial matters, and writing reports to the US Congress.
I lived and worked in the Baghdad Embassy a long time. My friends there helped establish the financial and banking system in Iraq.
I believe in Iraq, the future economy and I believe in the people of Iraq and their long term prosperity; but investment in Iraq currency, or the stock market, should be treated as a long term investment.
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_ The Iraq Dinar will not, or was it ever, going to revalue until the agreement with the International Monetary Fund (IMF) comes to a close and new agreement issued.
The stability of the Iraq currency is essential, per the agreement, for the long term development of the banking sector and private financial and business markets within Iraq.
The World bank and the IMF are overseeing the long term structure building of Iraq's economy, and the stabilization of the currency is key.
Also critical, per the agreement, is the independence of the Central Bank of Iraq (CBI) from the government. The CBI is solely responsible for any decision related to banking and currency.
The agreement is called the "Stand By Agreement" (SBA) and is between the Iraq Government, the Central bank of Iraq and the IMF.
The Agreement has been extended to July 24, 2012. The SBA is extended until July 24, 2012. What happens then is up for prayer. Much depends on the growth and development of the banking structure and financial markets.