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Sunday, January 29, 2017

TNT UPDATE, 29 JAN

TNT:

GJHHonor:  gm to all CBI still not updated yet .

Lilypad:  GJHHonor--one day closer to the 30 day IMF deadline. LOL

Lilypad : You have been keeping us informed of cbi update rates, What was the last date you have in your records?

GJHHonor :  was not updated since the Jan 4th

Lilypad : Correct. According to Imf, iraq has 30 days to report exchange rate changes.          
Lilypad : GJH---We are within days of the 30 day IMF requirement

Lilypad wrote This is how i see this. Whether it is 2, 4, 6, or 7 days, there is very little time left for the rate to be revealed. And there is no doubt in my mind that the IMF already knows the rate.

January 4 and 30 days later would be February 3
....
Lilypad:  This is just my opinion and my opinion only from what I have learned. Iraq has been under the transitional exchange obligations. It is my opinion that when Iraq satisfied Kuwait at the end of December 2016, it moved them out of transitional status.

From my understanding, Iraq has to have the new exchange rate to the IMF within 30 days. Iraq would no longer be able to leave the exchange rate blank on the CBI website. They would have to declare the new rate.

http://www.imf.org/external/pubs/ft/aa/#art14 Article 4. No. 2 (Scroll down)

2.  General exchange arrangements

    (a) Each member shall notify the Fund, within thirty days after the date of the second amendment of this Agreement, of the exchange arrangements it intends to apply in fulfillment of its obligations under Section 1 of this Article, and shall notify the Fund promptly of any changes in its exchange arrangements.

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Elmerf123456:  Thought of the day! Ships don't sink because of the water around them; Ships sink because of the water that gets in them. Don't let what's happening around you get inside you and weigh you down!

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