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Monday, January 25, 2016

AKM IMRAN INTEL, 25 JAN

AKM IMRAN  (DINAR RV):Iraq has signed today a cooperation agreement with the Union of Arab Banks. THIS IS A SIGNED AGREEMENT IN ALL ITS FORMALITY IRAQ IS MOVING ECONOMICALLY TO THE INTERNATIONAL MARKET -- BANKING IS MOVING AND DEVELOPING -- THIS IS SIGNED SEALED AND DELIVERED -- FORMAL AGREEMENT. IMO WE ARE VERY CLOSE TO ARTICLE 8 AS A RESULT OF ALL THE ACTUAL ACTION IRAQ IS TAKING. IN ARTICLE 8 THEY CAN MOVE FORWARD WITH MONITORING TO THE INTERNATIONAL MARKET AND TRADE.
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I want to... caution all of you not to stake timelines of an RV based on the publishing of the 2016 budget or any future budget in the official gazette. I know darn well not to expect an RV today or anytime within the next couple weeks, at least. This is not an opinion I bring but a FACT. But there is lots of news coming out about the necessity to do something with the value of the dinar against the US dollar. 

Since late October it is common conversation by Iraqi economists to put pressure on the GOI and the CBI to do something to raise the value of the dinar. We know that the dinar must go international if they are to be as diversified as they claim the need to move towards in their economy to get over this economic crisis. But it is not as simple as just “pulling the trigger” on the RV to correct the situation. No matter how hard Iraq wants the RV they will not be allowed to do it until they are fully ready.

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