Author: Government Connected
Comment:
I've been following this blog since day 1, and have been amused by Stew's constant point about there being no re-valuation of the IQD, and also the battles he's had with several members. Well, I am here to bring this news link, released today by the IKH news.
http://ikhnews.com/news_view_8170.html
Shabibi: the independence of the Central Bank of the umbrella of a protector of state funds
بواسطة: mano By: mano
بتاريخ : الثلاثاء 08-02-2011 01:23 مساء On: Tuesday 08/02/2011 13:23
بغداد(الاخبارية)..دعا محافظ البنك المركزي سنان الشبيبي الى استقلالية البنك لانه مظلة حامية لاموال الدولة.وقال الشبيبي خلال عقدت ندوة اقامتها مؤسسة (المدى) لمناقشة قضية استقلال البنك المركزي وحضرته مراسلة (الوكالة الاخبارية للانباء): ان"منح الاستقلالية للبنك المركزي له اهمية كبيرة لانه مظلة حامية لاموال الدولة"، Baghdad (news) .. called Central Bank Governor Sinan al-Shabibi to the independence of the Bank that the umbrella of a protector of state funds. Shabibi said during a symposium hosted by the Foundation (range) to discuss the issue of independence of the Central Bank and attended by a reporter Agency (news): "The granting of independence to the Central Bank is of great significance because it is the umbrella of a pr!
otector of state funds, "
مستدركا:"لكن على الحكومة ان لاتفهم ان البنك منعزلا عنها بل اننا نعمل مع السوق والحكومة بشكل كبير." Afterthought: "But the government might not understand that the bank isolated it, but we are working with the market and the government significantly."
واضاف الشبيبي : لايمكن الفصل بين الحكومة والبنك المركزي لان اهمية السياسة النقدية تعتمد وفق القانون على التعاون مع الحكومة.واشار الى ان اساس اقتصاد البنك هو محاربة التضخم الذي يحصل بسبب الحكومة او القطاع الخاص، ويعمل على تطبيق السياسة النقدية سواء في اسعار الفائدة لتحقيق استقرار النمو ومساندة المصارف في الازمات من خلال التنسيق المباشر. He Shabibi: can not separation between the government and the central bank because the importance of monetary policy depends according to the law on cooperation with the government. He pointed out that the basis of the economy the Bank is to fight inflation, which happen because the government or the private sector, and works on the application of monetary policy both !
in the interest rates to stabilize the growth and support for banks in crisis through direct coordination.
وبين الشبيبي:ان البنك المركزي يقوم بمتابعة تخصيصات الموازنة الحكومية من اجل ضبط الصرف وتقليل معالجة عدم التوازن ../انتهى/(3.ر.م) And Shabibi: that the central bank will follow the government's budget allocations in order to adjust the exchange rate and reduce address the imbalance .. / Finished / (3. T. M
Dr. Shabibi, whom I have personally met on numerous occasions, is steadfast in his desire to return his beloved country of Iraq to prominence. Up until Saddam's decision to invade Kuwait, Iraq was the regional power that kept a control and balance in the region, specifically over Iran. This link and press release should put to rest the arguments about the RV. As I work for the IMF in New York, I can verify the authenticity of this news document, and can further validate the plan for the Iraqi government to increase the value of the IQD without any sort of LOP. Despite what Stew has been claiming, the currency value of the IQD was artificially deflated by the IMF, in conjunction with the UN. The stated goal is to return the IQD to a value of at minimum, on par with the dollar. I do not personally know the rate that the IQD will be increased to, but in speaking with several colleagues who are involved in this matter, it's becoming clearer, that the value will be fixed for a sh!
ort duration, 90-180 days, and then will be allowed to float in the open market.
For obvious reasons, I can not reveal who I am. Just leaking this info could cause a reprimand. However, once the re-valuation has occured, I'll be happy to come back and reveal myself.
My credentials, in case anyone is wondering? PHD from Yale, Former director of foreign currency for a major New York bank. Currently serving on the IMF board for currency policy and implementation. I'm sure I'm going to get some grief from Stew, but I am steadfast in my knowledge of the events that have caused the current financial crisis in Iraq, and the steps being currently taken to adjust the imbalance. I can tell you this much. I HIGHLY doubt that the rate is anywhere near what many have been posting. Again, I see a return to pre war levels, based upon my many conversations with others who are directly involved. This is not rumor, but is fact.
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Originally Posted by hopefultxn
