EXCERPT FROM MNT GOAT
Once the parallel market is matched or close to the “official” CBI rate the next phase of the process that we have been waiting for now for over a year can happen.
That phase is an in-country rate change at or just over a dollar.
Next the currency switch-out to the newer lower denominations can begin.
This was Dr Shabibi’s plan all along since its inception in 2011.
He nearly executed it too in 2012-2013.
After the currency switch out and period to monitor for inflationary reactions with new rate, the move to reinstate the dinar back on FOREX would be next.
In simple terms, this is when we go to the bank and not before. The reason for the “holdup” is that these steps could not yet occur based on the current situation.
So, there is no bad news in these articles today, but you must know what is going on to appreciate exactly the ramifications of this news.
I also want to say everything so far is working according to the CBI plan of getting ready for this next phase.
We just have to let it play out. I know it is not on our timetable and even what my CBI contact told us it “might happen” at this time. I can’t control it.
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