vet_1975 wrote on May 21st, 2013, 3:53 pm: there are some dome people here in PR and US and they do know how to use money so whay is that the Irakie people are educated and still do not know how to use money I do not belive it
I know people that do not know how to read or wright but they do know how to use money and know the power of it so whay are they saying that the people from Iraq will have hard time understanding the valor of the IQD?
walkingstick: Well, taking into consideration... nearly, 40% of the rural population is illiterate...roughly 25% have never attended a school... roughly 60% of the population is below the age of 25, of that... roughly 43% , below the age of 15... In a nut shell, looking at... a very high percentage of illiteracy and youth, and... a higher percentage, of people, that... have never held a job...Adding to that, over 70% of the population, non existent... at the time... when, the IQD/USD... 3+ range
Read More Link On Right
By DELTA » May 22nd, 2013, 12:31 am • SO NO ONE GOT THIS PART ? THIS PART IS HUGE
Further measures are needed to liberalize fully the supply of foreign currency, with the objective of lowering the exchange rate spread, removing distortions, and complying with Article VIII of the Fund’s Articles of Agreement
1: LOWERING THE EXCHANGE RATE SPREAD
2: COMPLYING WITH ARTICLE VIII
By DELTA » May 22nd, 2013, 12:44 am • [Post 108]
SO HOW CAN IRAQ COMPLY WITH ARTICLE VIII IF THEY ARE STILL IN ARTICLE 14.
UNLESS IRAQ IS ALREADY THERE .....TA DA
Alan: Why is this any different from any other arricle rhat we have seen over and over. Its like they come out with this ever two weeks to give us hope. I don't know about you but I just don't even pay attention to the articles.
Realisticly name one article that has come out concerning the dinar that has come to pass and not ended up to be next weeks news again. Weve all seen the articles..stating how they must delete the zeros.
Wece seen over and overtalks about removing m. Weve seen so many about removal of chapter 7. Dare I say nezt week well see the same articles again just worded a little different. Not being negative one bit just the truth.
Karl: Allen, I disagree. If we would have seen this article 6 months ago we'd be celebrating. This IMF statute regarding Iraq shows how close we really are. Article 8 in the same breath with Iraq is big.
Problem is which I do agree with you, there have been so many false positives over the years, one can become numb. Like the boy that cries wolf...yea..yea.
By mriguy » May 22nd, 2013, 1:42 am • Hey, Alan. Hope you are being safe over there. This wasn't just an article that Delta posted from. This was from the IMF Board of Directors Consultation of Article IV.
This "document" expressed not only favor of how the CBI has handled business in the last couple of years, but also the risks and challenges that Iraq faces in the future.
A couple things I got out of the document....after reading it multiple times....was that the IMF would like to see Iraq foster and increase "non-oil" "private sector" growth including investment and employment.
The only way to really do this....IMO....is to increase the value of the currency. They even encourage them to curb money laundering and terrorist financing.......
GET THIS....by joining Task Force Agencies.....NOT BY "restricting foreign exchange."
The way I read it, they were saying.....YES, there are things you need to do and be careful of, but YOU (Iraq) and I (IMF) know the only way to do that is to increase the value of your currency and stabilize it as you do (by using the DFI funds to help keep the equilibrium / stability).
That is my take.....and I'm sticking to it. MRIguy. Be Safe over there friend.
By mike100 » May 22nd, 2013, 5:15 am • Hey Delta so originally the IMF met with Iraq in March sometime and concluded Article 4.
Then The IMF also concluded with Iraq for a second time sometime in May for yet another consultation dealing with Article 4. Now in your opinion what does that mean? did they get a new window to revalue to push them into Article 8?
BTW thanks for ALL you do for the family. It's of my opinion their is some sort of urgency coming directly from the IMF to do this in short order. If Iraq made an agreement with the IMF i would think they need to hold their part of the bargain.