News

CURRENCY REVALUATION

The following article is from 2008. I am posting it here because it confirms that there is an agreement between the IMF and Iraq to RV the dinar at some point in future. I wish I’d seen this when I wrote my book!

The link has been removed for some reason so don’t bother to follow it. The article was found on another dinar site.

Here it is:

Iraq to reform the Iraqi dinar exchange rate as agreed with IMF .

Neighbors – BAGHDAD – full of Albulada member of the Economic Committee in the House of Representatives said that the reduction of the budget next year will not affect the overall economic plans and programs to the provinces and regions if the deal with the ideal money and follow-up. Albulada said in a statement to reporters on Friday that the state has investment projects in several provinces have allocated substantial sums this year, in addition to the amounts allocated to investment within the next year Mozanp.

Confirmed that it was the right home that felt the repercussions of the money on his year through the completion of projects and infrastructure development. . She proportions completion of projects in the provinces have not lived up to the required level, because the money allocated to them approved in March last and not the beginning of this year likely to reinstate the House of Representatives to consider fixing the date of release of funds to give sufficient time for completion of projects in the provinces..

The Albulada to encourage the private sector to create investment opportunities and projects that attract the savings of citizens and cash flow for effective participation in development plans. . Calling for the lifting of the efficient functioning of the State organs and public facilities so as to improve the performance and control to conform with international standards..

The International Monetary Fund obligates the Iraqi government to reduce the state general budget for 2009 to 67 billion instead of $ 80 billion, based on the price of a barrel of oil stands at about $ 62. .. This came in talks between the ministers of finance and Iraqi oil Bayan Jabr Zubaidi, Hussein Shahristani in Amman with a delegation of the International Monetary Fund, where Zubaidi said that the Iraqi rejection of the demands of the International Monetary Fund liberalization of prices of petroleum products and stop increasing the salaries of workers in the state and reform of the Iraqi dinar exchange rate as agreed The Iraqi side to cut the state’s public budget by 13 billion dollars.