10-24-2011- American Contractor

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10-24-2011- American Contractor After numerous meetings and consulting with various entities the consensus is that there will not be any movement with the Iraqi Dinar currency. The Iraq currency reform report will not commence this year as the Iraqi parliament will not schedule this for discussions. This remains in the hands of the Council of Ministries who have already reviewed the currency reform report courtesy of Governor Sinan al-Shabibi. There will be no action taken this year as more debates and discussions are continuing with the government and private enterprise. The Central Bank of Iraq (CBI) continues to move at a snails pace when it comes to removing the 25k notes from circulation and at such time will be replacing those denominations with another newer Iraqi currency. There are six new denominations being considered and when the decision is finalized they will be printed.