In addition to this article, which was the 6TH ARTICLE IN A WEEK, and the Iraqi news TV is also announcing it.
We have been through this a few times before where the CBI peppers the news media with their plan to RV. Their plan was always stopped by Maliki/Iran and then ISIS. Hopefully, now, with Abadi in and Maliki out, US troops back in and ISIS gone, and the Iran Deal and sanctions lifted, the CBI can finally complete their monetary reform in 2017.
Delete the three zeroes from the currency of Iraq early in 2017
ARTICLE: Date:November 10, 2016
Deletion of zeros from the Iraqi currency, will be implemented in early 2017, according to the Keywords, the central bank governor, noting that the bank began to develop the first steps of the project.
I've always thought the window would be last Thursday in March, through the 2nd, 3rd and 4th Thursday in April. I did not believe it would happen 2013,14, or 15.
I posted my doubts throughout that time period whenever the Dinar gurus were predicting the RV and got a lot of heck for it.
Last year, when the IMF and CBI signed the LOI with the words international by "mid-year" in 2016, while the Pentagon, Abadi, and Barzani planned for the liberation of Mosul the last quarter of 2016, it seemed as if they were planning to RV prior to the liberation of Mosul.
That seemed odd, so I posted the question last January would Mosul delay the RV?
The IMF intended to prepare Iraq for loans by mid-year, but their plan included the UST and WB and was an umbrella plan. It included not only loans, laws, bonds, and credit rating, but also it presumable includes the RV as apart of the plan to become Article VIII compliant.
So, I had hoped, based on the overall plan for Iraq to get rid of ISIS, get loans, and move the reconstruction phase of the SBA, that the RV had to be apart of that plan.
I had hoped that the RV would happen in April to get everything else going.
When the GOI erupted in chaos just days before my target date, I still hoped for the RV by "mid-year." But then the new LOI in June set more benchmarks, namely the passing of the Investment Law as a "first step" and the removal of the MCP (multiple currency practices), along with more security and transparency measures on purchasing the USD.
I've been rather quiet since that June LOI because the Investment Law hasn't been implemented, nor has the MCP ended yet by "end of the year."
It looks like the GOI is only going to get their 2017 Budget passed and go on vacation for the holidays. That's just so ridiculous that they haven't yet even submitted names and voted on the new Ministers. Abadi's technocrat government was also planned for a year ago, along with the IMF and Coalition Forces plan.
Instead of getting a new government by last March, Abadi still only has half a cabinet. He promised that he would submit names right after their beginning of September holiday. He hasn't. (Yet, "gurus" don't even mention that fact, even though this may have been the hold up in the RV target of by "mid-year," if they weren't waiting on Mosul.)
In any case, I was expecting to see the CBI "peppering" the news media with monetary reform announcements in the months leading up to the RV.
In the past, they have released articles for a few months, then retracted or just stopped their announcements indicating that they had been on track to RV, but then got delayed.
It also indicates that they never just released a few articles and then planned on RVing immediately within days of an article.
Because they have to "delete the zeroes" they have to announce their steps to get the citizens to bring in their three zeros Dinars.
Because they have to issue the lower denoms, they have to announce the program to the citizens. It isn't like they are keeping the old currency and just raising their exchange rate, so they have to make announcements.
ISIS has really delayed them for three years (2014-2017.) I've never believed that they would RV 4th quarter of a year, nor do I believe that at this point they will RV prior to gaining control of Mosul.
I also believe that they do need to pass Investment and Banking laws. They need to stop the MCP. Mosul is projected to be done in 2-3 months (everyone can define "done" in different ways, I'm defining it as being safe and secure with mines cleared and roads driveable.) I doubt the GOI is going to get anything else done besides the Budget before February given their track record. Hopefully, February and March they can actually pass what they need to pass and be ready to RV by the end of March-April window, while the CBI "starts" the deletion of the three zeroes the first quarter of 2017, and Mosul is secured.
IS IT ACHIEVABLE TO DO WHAT'S NEEDED BY APRIL 2017?
I also think everyone is looking for a date, and it's OK to have opinions and discussions about it on forums that aren't selling anything.
In all these years, I have only really given one date which was the last Thursday in April 2016.
I'm thinking it was delayed due to the chaos in the GOI, ISIS, and still not PASSING THE NEEDED LAWS. But, ALL THOSE THINGS ARE ACHIEVABLE by APRIL 2017, and it fits with the CBI's recent statements that they are beginning the process the first quarter of 2017.
I see progress within the CBI, and the military, obviously with the elimination of ISIS, but still not enough progress within the GOI. There's been significant progress with the Kurds, namely Mosul, oil agreements, and Article 140 issues, but I don't see the progress with the formation of a technocrat government, nor the passing of significant laws. There's no excuse for the GOI, IMO.
Perhaps President Trump will have a different approach with our foreign policy, promoting strength in America and support abroad for only those countries demonstrating sound government. Maybe he will be able to stop this cycle of the U.S. committing troops and money to countries prior to them having the leadership to turn their countries around to peaceful societies and productive economies.
Why didn't Obama insist on the laws being done and the technocrats approved prior to sending in troops?
And, why didn't the IMF get the laws passed prior to the loans?