..So, what is the standard they are trying to control?
There is only a 2% allowed variance (+ or -) from the official CBI rate the parallel market and they now are way beyond that. So, they have to get it under control and then be able to hold it for 6 months. I quote from today’s article titled “A FIXED OR FIXED EXCHANGE SYSTEM FOR THE IRAQI DINAR” here is the quote – “This stage witnessed a gap of up to (1320 – 1550), meaning a margin of 230 points and an exchange gap of (approximately 17%).” We can clearly see in this article that the gap is not 2% (+ or -) but 17%. There is work to be done but don’t get discouraged as they will find a solution and it will allow the process to move ahead again. Meanwhile we see the train is stalled at a station waiting to be given the go ahead once again.
Oh gosh… another 6 months to hold the 2% (+ or -) once they finally do get it under control ☹? Yeh folks I don’t make up the rules I only report in my blog what they are telling us. Based on today’s situation and everything else going on in Iraq the IMF might want to waive this 3 month rule. We just have to wait and see. I am only telling you from the past the IMF did enforce it and I believe they might or more than likely will NOT enforce it again. I hope not.
Meanwhile Prime Minister Al-Sudani expressed Iraq’s aspiration to cooperate with major international companies in the field of technology and information technology to move to the digital economy and improve the direction of investments. He also expressed the Iraqi government’s desire to cooperate with technology companies and benefit from them in developing the agricultural sector.
In Iraq, indicating that agriculture is a priority in the government program. But I have to tell you that this is all excellent new but not what is holding up the reinstatement process. The Obama error policies for Iraq are slowing fading. There is a shift in thinking. Somehow there is a middle range of where they are going that incorporates both the Bush and Obama policies. So, please, please don’t tell me that the US and even global politics is not important. You are a naive thinker in these terms. I have demonstrated to you so much evidence already that Iraq DOES NOT have sole control over their own destiny. This is no longer a point of contention and a question you should be asking.
We must now buckle down and pray and pray like never before for the results of the success of Al-Sudani and his trip to Washington. Pray for the U.S. in that there are strong enough representatives in Congress and the Senate who will stand up and continue to fight to uphold the US Constitution and keep fighting this Washington corruption. Pray that that God’s Hand will intervene and save our great country.
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