BGG
...I hope conditions remain on the gain so the CBI and the GOI can get started with the economic and currency reform program in the first part of 2017 (as they have already forecasted). I doubt Trump has much to do with this. In fact, if he will have anything to do with it - he will obviously want Iraq pulling their own weight and at a real currency rate. He has plainly said he is not OK with countries operating at artificially low currency rates. If we haven't learned anything about Trump - we should have learned that he speaks plainly and pretty much is going to move ahead on the things he has said he would. One of these items is "world currency parity" - he's harped and harped and HARPED on this. There isn't a single authority on the subject who doesn't agree that Iraq's currency value is vastly undervalued. They want this fixed. So relax. This in on the way...
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firefly
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firefly
The WB clearly stated that Iraq is one of the richest countries in the world folks! Now why would they say that! Not to mention that Iraq has been Basel 3 compliant for a while now. Why did Iraq double their reserves is what you should be looking at.
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tman23
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tman23
CBI has not doubled their reserves...Quite frankly...They had to borrow/bonds 1 billion from the USA just to keep them from further depleting the reserves...which had citizens in panic that the IQD would devalue more...So the CBI says...everything is good, dinar is strong...NO PROBLEM HERE...The main income for Iraq is oil and that is WAY LESS THAN IN PAST YEARS...IMPOSSIBLE that the CBI could double there reserves...
[If that is the case why would the WB name them as the richest country in the world?]
"ONE" of the richest countries in the world...Because they have large oil deposits...rich soil for agriculture...and a huge potential for mineral mining... Resources is what the WB was eluding to...because resources are assets...
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Kaperoni
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Kaperoni
Article:
"Iraq confirms his efforts to join the World Trade Organization"
I have never really cared much about the WTO except for that fact it motivates Iraq to currency reform. Once the CBI reform starts, we all will decide the appropriate time to sell our dinar.
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mike
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mike
[When they remove JP Morgan from the CBI everyone will give a sigh of relief]
As far as I know, JP Morgan has nothing to do with the internal operations of the CBI. In 2003 the Coalition Provisional Authority (CPA) created the Trade Bank of Iraq, an independent government bank to provide financial services to facilitate the import and export of goods and services to and from Iraq. In the first year of operation TBI was associated with a consortium of international banks led by JPMorgan Chase. During the startup period, the consortium offered TBI technical support and banking know-how and it has been issuing and confirming letters of credit and letters of guarantee on behalf of TBI. The consortium remained at the heart of TBI's correspondent network and had been a key element in the successful growth of TBI's trade business. The TBI, and it's consortium, are licensed by the CBI, but not part of it. JP Morgan isn't going anywhere, and neither is the international network of 134 correspondent banks covering 63 cities spread over 39 countries that make up the consortium of the TBI. IMO.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru