Latest IMF report:

[ruger]

32. The lack of data and large structural changes in the Iraqi economy preclude any
meaningful estimation of the equilibrium real exchange rate. A very crude assessment
suggests that the dinar is broadly in line with fundamentals.4 With the drop in oil prices, it
appears that a possible prior undervaluation has disappeared, and that the dinar could even be
somewhat overvalued.

33. The authorities are committed to a liberal exchange regime and to removing all
restrictions under Fund jurisdiction. Iraq has a generally unrestricted current account
regime and a significantly liberalized capital account. However, four measures have been
identified to give rise to exchange restrictions subject to Fund approval. Three relate to a
requirement to pay all obligations and debts to the government before relevant payments are
transferred abroad, and one to an inoperative bilateral payments agreement with Jordan. The
authorities are considering measures to remove the identified restrictions, with a view to
accepting Article VIII of the Fund’s Articles of Agreement, but it may take time to resolve
the last restriction because of the pending resolution of Iraq’s debts to Jordan.



Full Report Here:

http://www.imf.org/external/pubs/ft/scr/2010/cr1072.pdf

[usc73man]

32. The lack of data and large structural changes in the Iraqi economy preclude any
meaningful estimation of the equilibrium real exchange rate. A very crude assessment
suggests that the dinar is broadly in line with fundamentals.4 With the drop in oil prices, it
appears that a possible prior undervaluation has disappeared, and that the dinar could even be
somewhat overvalued.

33. The authorities are committed to a liberal exchange regime and to removing all
restrictions under Fund jurisdiction. Iraq has a generally unrestricted current account
regime and a significantly liberalized capital account. However, four measures have been
identified to give rise to exchange restrictions subject to Fund approval. Three relate to a
requirement to pay all obligations and debts to the government before relevant payments are
transferred abroad, and one to an inoperative bilateral payments agreement with Jordan. The
authorities are considering measures to remove the identified restrictions, with a view to
accepting Article VIII of the Fund’s Articles of Agreement, but it may take time to resolve
the last restriction because of the pending resolution of Iraq’s debts to Jordan.



Full Report Here:

http://www.imf.org/external/pubs/ft/scr/2010/cr1072.pdf

Hi Ruger, Thanks for posting.

I skimmed the actual report, and the Effective Report date says March 2010 as a "Summary Report", but as you look through the report, it has several documents included with several dated - 16 Feb 2010, and 24 Feb 2010. I believe it appears that most of the data was actually pre-Dec 09 and the initial Report was presented on 16 Feb (the negative statement was taken from this); with the later reports dated 24 Feb - one of which was the "Favorable Report" from the IMF that offered the loan.

I feel that this is "Smoke & Mirrors" depending who & how it was NOW brought forward. It could just be some info that was dug up and thrown out there. This is JMHO...!

Keep the faith that our investment is in God's Hands - not man's. Several prophetic voices indicated God's outpoured Blessing WILL be this year, with one indicating mid year, but no later than Dec 2010.

I hope this helps quell any anxiety.

Be Positive & Be Blessed,
RON :)