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 Continue reading

Several reports – Iraqi TV is announcing dinar RV – 4/19

HAT TIP:  ANONYMOUS EMAIL


We just checked and verified on the http://www.CBI.iq website – There is NO MENTION OF A RV HAPPENING on their website!!!

At the minimum the Central Bank of Iraq’s website would have some sort of press release or show in the “new” rates, otherwise how could it be officially reported on Iraq’s Television News Stations?

It is our opinion that this is the normal “CRAP” we expect to see from CAP1….

~ Mr. IQD


BEFORE FORWARDING, PLEASE DELETE EMAIL HISTORY – THANKS.
If this is actually true, the dinar sites will be going
WILD with excitement very soon.
~~~~~~~~~~~~~~
2:04 PM CST: Cap’s Corner [GHOST] Iraqi T.V. Is reporting the revaluation of their dinar. It is reported that 90% of all broadcasts are centered around the revaluation news.
Instructions are also being given by way of tv on how to exchange their dinar, etc.

Reuters: Iraq Halts Plans to Re-denominate Dinar – Article Analysis by MrIQD

HAT TIP:  Reuters


We’ve heard a few rumblings in the community lately of the following theory, we’re not sure who came up with it first, so we’re not really sure who should get proper credit, but we wanted to share this following theory (and article below)….

It is a GOOD thing if they halt the “RE-DENOMINATION” of the IQD Dinar (that is a.k.a. a “LOP”).  We think they are halting the “Re-denomination” because they are going to instead “REVALUE” the Iraqi IQD!!!

Understand, a “LOP” or “Re-denomination” is NOT good…  Remember the economic disaster that befell Turkey’s economy when they did a “LOP” of their currency!

The theory is that Maliki, Talabani, Allawi and Shabibi have been fighting about this…. Clearly from the news in the last 24 – 48 hours indicates that Shabbs is winning – which is extremely GREAT for us!!!  So, hopefully soon we will now get the Revaluation…. and NOT THE LOP!!!

~ Mr.IQD


April 13th, 2012 08:39 pm · Posted in NEWS (Iraq & World Currency)
Reuters – [4/13/2012]Iraq has decided to hold off on a plan to knock three zeros off the nominal value of bank notes of its currency because it does not believe the economic climate is suitable, the cabinet secretary said.The central bank said last August it planned to redenominate the Iraqi dinar to simplify financial transactions in an economy that is still heavily centralised and dominated by oil, and where deals are often carried out in cash. (1000dinar is worth about NZ$1)The proposal to restructure the dinar to bring more liquidity into the market has been awaiting parliamentary approval since Continue reading