MNT GOAT: "IMF Greenlights Iraq's Next Exchange Rate Shift"

MNT GOAT

"THE INTERNATIONAL MONETARY FUND (IMF) HAS ISSUED A BRIEF EXPLAINER ON IRAQ'S EXCHANGE RATE ARRANGEMENT."

 As part of a follow-up to last week's report on the state of the Iraqi economy, (from the last Article 4

Consultation Session) the IMF clarified as follows: (the word "clarified" is the operative word here)

"Exchange Rate Arrangement

"Iraq's de jure and de facto exchange rate arrangements are classified as a conventional peg arrangement.

The Central Bank Law gives the Board of the Central Bank of Iraq (CBI) the authority to formulate exchange

rate policy. Etc., Etc., Etc. Please go read the entire article. Yes, the IMF is telling Iraq they have the green light to go ahead with the next

exchange rate change, when they are ready.

Their words not mine.....