_ 9:48 AM [Arizonaheat] OK, i needed to make a call on the IMF and what they can do to force a revalue its just like a venture capital company that invest into a company. They will look into the company, the management team and look at the progress.
They put in a managment plan. If the plan isnt being adhered to they have the right to step in to make sure they secure their money.
Its the same with the IMF. The IMF loaned Iraq other people's money, such as Great Britain, the US , China etc. They need to answer to those people (countries) as to the future of their money.
With that management plan, they have the right as agreed by Iraq to obtain their loans, to set thier currency to ensure that the money loaned is paid back AND they have done this before (the IMF) - revalued a country's currency with the OK of the country itself.
This country was India. They woke up one day and their currency was RV'd BECAUSE they had loans through the IMF. If India "did not" have loans through the IMF, it is correct that the IMF could not force them to revalue.