CBI calls for World Bank to review Iraqs monetary policy

HAT TIP:  The Currency News Hound


This article does appear to be “bad news” however, we first have to consider that not all news articles are reliable and accurate.  This news could just be more propaganda by Maliki to make Dr. Shabibi look incompetent, propelling his efforts to take over the CBI.

From other news articles, we have read that Dr. Shabibi has authorized the World Bank to come in to audit and examine his monetary policy.  If Dr. Shabibi has already authorized this, then he already knows there will be a favorable outcome.

What will the favorable outcome of the Audit by the World Bank do for the CBI, and Dr. Shabibi, it will erase doubts and apprehension for trusting the Iraqi Dinar – thus pushing FORWARD THE REVALUATION OF THE IQD!!!

This audit process really was forced on Shabbs due to the negative press about counterfeiting and other monetary problems which were lowering the Iraqi people’s confidence in the IQD.

We can do nothing but wait for the results.  We can’t really see a RV until after we see a published outcome of this Audit.  This may take some time now.  Hopefully not too long!

~ Mr. IQD


On: Tuesday 04/24/2012 18:59

Dr. Shabibi of Iraq's CBIDescription of the Central Bank Governor Sinan Shabibi monetary policy in Iraq as one of the worst policies.

Calling at the same time, the World Bank to review. Shabibi said / the Baghdadi News / On the sidelines of a seminar for businessmen also attended by his deputy, the appearance of Mohammed Saleh, Secretary General of the Council of Ministers Ali Mohsen Keywords: «can not to this country to continue this case and can not keep the funds vulnerable to looting, calling for disclosure systems of corruption to the public» .

He added that «the monetary policy in Iraq, the worst of existing policies, calling for the World Bank to review this policy and the development of a new mechanism related to economic reform and banking sector in Iraq.

For his part, Vice Governor of the Central Bank of the appearance of Mohammed Saleh: there is a conflict of interest and everyone looks at his personal benefit and harm others, and the lesson is not to speak, but to build strong markets and institutions and build a promising future.

He added: Iraq at a crossroads there are three markets in the region exposed to high vibration and should not be «dry» the nation’s money because of these conflicts surrounding, revealing attempts to dry the benefits of external funding in Iraq.

As stated by the Secretary General of the Council of Ministers Ali Mohsen Keywords: long note out large amounts of dollars from Iraq under the title of foreign imports and purchases.

He explained: We do not have the problem of procurement, but we have seen and discovered that the total of these amounts reached up to $ 180 billion has been converted did not really have turned to import goods, which means they are going out for other purposes.

And: We have asked some of the commercial Mlhakaatna States that ratify the lists that are buying in huge amounts and arrived in one of the States to five billion by providing lists of Commercial Attaché for the purpose of ratification.

http://bit.ly/J721OK

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