Central Bank: GDP of Iraq will rise from 180 to 350 billion dollars after two years/MENTIONS IMF ARTICLE 8

Central Bank: GDP of Iraq will rise from 180 to 350 billion dollars after two years


Central Bank: GDP of Iraq will rise from 180 to 350 billion dollars after two yearsBaghdad - Mostafa Hashemi said the deputy governor of the Central Bank that the conditions experienced by the neighboring countries do not affect the Iraqi dinar exchange rate. confirmed the appearance of Mohammed Saleh told (the citizen) that the strength of the Iraqi dinar is derived from a link Iraq to the global economy.

He emphasized that the events taking place in neighboring countries can not affect the exchange rate of the currency, but in a superficial or negligible.

Pointing out that the currency's strength also comes from the strength of oil exports to Iraq and how to maintain and invest in real development. noting that the revaluation of the Iraqi dinar leap large will lead to increase the price of goods to weaken the double.

also can not declare that the dinar will rise and will become the price Doe in order toprevent speculation and if what is left of the Iraqi economy at this pace and increased exports of oil and oil markets is controlled, it will make Iraq a key player in the region and will increase the GDP of Iraq of about $ 180 billion to 350 billion dollars in 2015 and this figure will be reflected on the price of the dinar in a logical yes.

indicating that monetary policy aims to stabilize the external value of the Iraqi dinar exchange rate and at every opportunity to increase economic exchange rate Fsnrfh.

Stressing that the Iraqi dinar currency strong and significant as the neighboring country (unnamed) Iraqi dinar traded at Mahalha and its markets as a hard currency at least as important as the U.S. dollar.

On the other hand, Saleh said that we are always working to review the controls sale of foreign currency out of the window official (central bank) and Iraq enjoy considerable freedom in the transfer of funds as provided for in Article VIII of the Convention on the International Monetary Fund has allowed Iraq to free current account to purchase goods and services from abroad without restrictions.


He said the obsession as a policy cash application of the law against money laundering, crime and terrorism, and must make it clear that the banking incubator for capital tainted. Saleh said that the Iraqi economy is strong despite the lack of diversification of the economy is rent-seeking, one-sided is not a shame, Australia and Kendatad countries rents to this day ..

What matters is that import rents must be employed in development and economic progress and not in the type of economy. Saleh expressed his support for the investments of oil in southern Iraq, saying that this will develop the Iraqi economy and not the accumulation of rent, but that the accumulation of rents in other sectors is what we aspire to Kaguetsadaan.

Well now, isn't this extremely interesting. It sounds as if they have 1) eliminated the restrictions required to sign the Article 8 agreement and 2) that it may be a done deal. I just checked the IMF website and nothing has been posted there yet. Still showing that Iraq is under Article 14. I do know that the IMF was supposed to conduct another financial review in January which are required due to the IMF loan to Iraq. The report is way over due as is typical with Iraq. Here is my question, if the events happening in Syria and Iran did not affect their currency then why shut down the auction to the degree that they did? It is almost impossible to rely on anything in their news articles, but I like the sounds of this one.

Thx Wind..I really coun't make heads or tails of the Saleh-Speak, but I do remember you saying Article VII was important...

thnx wind.....your the best UN expert I know of!...able to make sense of this

Just to give you an idea of how far behind Iraq is on their reports here is the schedule that was listed in the last review. The second review was not completed until March/2011 and that was the last one completed. Windreader1



February 2010 25 297.10 468.03 Approval of SBA arrangement


On or after May 31, 2010 40 475.36 748.85: Completion of first review and observance of end-March 2010 performance criteria

On or after October 30, 2010 25 297.10 468.03 Completion of second review and observance of (end-June 2010 and) end-December 2010 performance criteria

On or after May 31, 2011 25 297.10 468.03 Completion of third review and observance of end-December 2010 performance criteria

On or after October 30, 2011 75 891.30 1404.09 Completion of fourth review and observance of end-June 2011 performance criteria

On or after May 31, 2012 10 118.84 187.21 Completion of fifth review and observance ofend-December 2011 performance criteria