Shabibi Explains the Importance of Iraq’s Foreign Currency Reserves!!!

HAT TIP:  Currency News Hound | Direct Source: Almada Newspaper


This is a MUST Read article that was written by Dr. Shabibi and we found to be originally printed by Almada Newspaper.  Thanks also to Currency News Hound’s Twitter feed for bringing this great and informative article to our attention. 

As a courtesy to you, we have bolded portions of the article and even added [comments to simplify the content] at times when we found Dr. Shabibi’s comments more interesting, it is best to spend five minutes and read the full article.

~ Mr. IQD


Foreign currency reserves .. Its importance and some of the results of the truncation of it
by D. Sinan Mohammed Rida Al-Shabibi *

CREDIT: Almada Paper | Central Bank of Iraq

There is no doubt that the government is responsible for fiscal policy in the economy. In contrast, the Central Bank is responsible for monetary policy, any actions that determine the size of the money supply and conditions in order to neutralize inflation and helping to provide a stable economic climate. There are undoubtedly problems plague the relationship between these two powers, especially if they are absent coordination between them.

Goal here is not to go into the details of these topics, but we want to focus on one subject, is of foreign currency reserves or the cover of the national currency. The root of the problem in this area focus on the belief of some, especially within government agencies [maybe he is talking about Continue reading

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

CBI's Governor Shabibi – Compare Articles for Apr 2012 and articles from Apr 2011 – August 2011

HAT TIP:  The IQD Team


Wow, this is fantastic archive work by Lakehouse who made your life much easier by collecting all these valuable articles relevant to the Revalue of the Iraqi Currency!

Who would you rather believe (and bet next month’s rent on!) Dr. Shabibi the Governor of Iraq’s Central Bank (www.CBI.iq) or believe one of those hack “gurus” who is calling it every other day because of the so-called “intel”…. 

GIVE US A BREAK from CRAP INTEL!!! We will take Dr. Shabibi’s word every time over a hack Guru!!!  And, by the way, when you read the real news and quotes from Shabbs, you will think – why in the heck did I ever need a hack guru to tell me his/her lies!

~ Mr. IQD


Thanks Lakehouse @ Going Global for putting this together

Dr. Shabibi of Iraq's CBICBI’s Governor Sinan Shabibi – Articles for April 2012 and articles from April 2011 – August 2011 for review!

This year .. April 14th 2012 .. link .. *CBI’s Shabibi ~ Central Bank Governor left Iraq to attend a conference of the International Monetary Fund ..

And More .. link.. *April 21-26-2012 – UNCTAD Conference – Fact, CBI’s Sinan Shabibi was until retirement a Senior economist for UN’s Conference for Trade and Development

And .. One Year Ago …

April 17, 2011 ~ *On Tuesday, Shabibi goes to Washington ~ Iraq and the Paris Club ~ Financial confirmed it seeks to cancel the external debt …

April 19, 2011 Continue reading

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