7-29-2019 Newshound/Intel Guru Frank26 The IMF comes out and kinda suggests that they are Article VIII...they [the CBI and Iraq] have to admit it now. They have to accept the terms of Article VIII and responsibilities of Article VIII...the IMF can not make the announcement...there will be a press conference...from the CBI...
7-29-2019 Newshound Guru EHankins Iraq is article 8... They have practiced it for nearly a year now. there is no fear they just need to speak it into the world...
7-29-2019 Newshound Guru Kaperoni There is some confusion about Article XIV and Article VIII. If you go back and look at a few older Article IV Consultations I believe you will find that Iraq has met Article XIV conditions for a while. In order to transition from XIV to VIII you must meet the conditions of the Article prior to moving to it. So in this case the IMF states clearly the CBI has one restriction under Article VIII. Therefore, they need to solve that prior to the IMF giving their blessing for acceptance into Article VIII.
7-29-2019 Newshound Guru Kaperoni The once [one?] restriction appears to be a combination of the CBI requiring participants in the auction to have a bank account, and also the 2% spread. It does say the IMF is monitoring the situation. It does seem to be something that can be resolved fairly quickly if need be and it will be interesting to see what the IMF says in the future on this since the CBI has meet the 2% spread rule for the past 16+ months.
7-28-2019 Newshound Guru Whitelions ...it has to start now or what they are doing will be for nothing...thats not going to happen...all the work they have put in to where they are now just to stop does that make sense to you?
7-28-2019 Newshound Guru future "Iraq continues to avail itself of the transitional arrangements under Article XIV, Section 2 but no longer maintains any exchange restrictions or multiple currency practices..." ...tells us Iraq restrictions have been removed...its time for the transition to article 8...article 14 is no longer needed...lets hope and pray they are confident enough to make that jump sooner rather than later.
7-28-2019 Newshound Guru Whitelions [Allowi was supposed to be PM, back in the day, about 3 PM's ago...guess USA backed Maliki now Allowi is CBI governor? What a circus! Musical chairs...] ...get your head out of the past...yes the US backed the wrong person but 30 years of dictatorship didnt give us much info on who to pick so we took a chance. Now...too much has changed in a very short time and we have to go with what is going on now and now they are ready. ...they have had so bumps and scraps but they are there now...
7-28-2019 Intel Guru Frank26 IMF SAYS IRAQ IS ARTICLE 8... Dont forget they were taken off the stand by agreement! The IMF said they have their multiple currency practice, no longer under restrictions! This is important! Today the IMF told the world "by the way.."... contractors are going ballistic...WS [Guru Walkingstick] TOLD US THEY WERE DOING THIS FOR SOMETIME THAT THEY WERE ARTICLE 8 COMPLIANT, JUST HAVE NOT TOLD US/THE WORLD FORMALLY...THE 3 ZEROS WERE LIFTED ELECTRONICALLY IN JAN... THE IMF TOLD US, NOW WE NEED IRAQ TO TELL US THEY ACCEPTED THESE AGREEMENTS, TO ADD VALUE... THERE IS NO WAITING PERIOD, JUST HAVE TO DO IT...So how long will we have to wait? There is no waiting period - none…The moment they have the strength, will and desire to do it…they will raise the value of their currency...
7-28-2019 Newshound Guru Kaperoni ...Iraq has been clear of restrictions under Article XIV for some time, but still has one restriction under Article VIII they must overcome before they can officially accept Article VIII.
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