11-10-2015 *Kaperoni
Posted: Tue Nov 10, 2015 10:55 am11-9-2015 *Kaperoni ~Article quote: "the Council of Ministers may ask the Central Bank "soon" to leave the currency auction and resorting to "float the dollar" In years past, their were numerous articles that always said the Council of Ministers did not approve under the Maliki governments. In fact, Maliki came out in public in August 2012 and said the CoM voted against Shabibi and the CBI's reforms demanding he stop (that was when he ran him out of the country with the warrant), yet, there was no record of a CoM meeting or any minutes from the CoM ever stating that. To have an article that clearly states..."..the Council of Ministers may ask the Central Bank "soon" to leave the currency auction and resorting to "float the dollar".." is absolutely awesome and confirmation that the CoM and Abadi are on board with the reforms. Hopefully as Enorrste said we will see something very soon.
11-10-2015 *Kaperoni ~Article quote: "...staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy. Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect, to accommodate a possible real exchange rate appreciation while keeping domestic inflation low.” the IMF has wanted this for sometime...
11-10-2015 *Kaperoni ~Article quote: "...staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy. Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect, to accommodate a possible real exchange rate appreciation while keeping domestic inflation low.” the IMF has wanted this for sometime...