EJAMM,
All what you have said being the case. Where do you see this starting out at then. Can we realistically expect it to be in the 1:1 range or higher to ensure that the preferrred currency of choice is the IQD.
Thanks
LIT
Printable View
EJAMM,
All what you have said being the case. Where do you see this starting out at then. Can we realistically expect it to be in the 1:1 range or higher to ensure that the preferrred currency of choice is the IQD.
Thanks
LIT
EJAMM can certainly fend for himself but I will tell you that based on my interaction with him that this gentlemen is the most knowledgeable, level headed individual regarding the dinar that I have encountered during my 3.5 year 'stint' in this dinar chase. If you listen to him, you will learn much about pertinent aspects of the dinar. Those that know of EJAMM would, I believe, make a similar assessment. Your insinuation challenging EJAMM's credibility is unwarranted and unwelcomed by this member.
Does anyone know anything about something called an ESF or "Economic Stabilization Fund"?
Seems I read something about it a while back and it had to do with having
funds to achieve a specific exchange rate.
Thanks, lewscrew
Sorry..But it was he that was challenging my $3.22 claim. I have info to back up my assessment from the CBI.. He does not!! He is stating something that is his "Rumor" that he is stating as fact. Sorry, but it is not as credible as you claim... I know EJAMM from other forums and I have been around as long as he has. And, I do my own DD and Research.. $3.22 is as feasible as 1 : 1 and is more likely since a Reval will not be necessary only a return to the Lawful rate of $3.22!!
Since you are trying to ascertain if Iraq can indeed meet Kuwaits exchange rate lets see how they stack up economically.
Ok lets start with GDP per capita.
Kuwait Ranked #52 in the world at $ 21,600 (per person)
Iraq Ranked #161 in the world at $ 2,900 (per person but probably a little higher in 2007 but not even close to Kuwait)
External Debt
Iraq is Ranked #36 with $ 81,480,000,000
Kuwait is Ranked #64 with $ 19,700,000,000
Exports
Kuwait is Ranked #44 with $ 56,060,000,000
Iraq is Ranked #59 with $ 32,190,000,000
Population
Kuwait 2,505,559
Iraq has 27,499,638
Inflation rate
Kuwait - 3.00 (2006 est.)
Iraq - 64.80 (2006 est.)
https://www.cia.gov/library/publicat...rderguide.html
Exchange Stabilization Fund is a US Treasury Program
U.S. Treasury - Exchange Stabilization Fund
Unless you mean the Exogenous Shock Facility which is an IMF program.
Factsheet - The Exogenous Shocks Facility (ESF)
Maybe this is why Kuwait left one of the GCC meetings with the s***s!
anyone have any new info? just hungry for a tid bit of rv happy data!!!
nice.:ro_emote:
new message at isx site
Error 404: File Not Found
The requested page is not found. This may happen due to the following reasons:
Page or file is outdated, renamed, moved, or does not exist.
You typed the address incorrectly, like http://www.example.com/pgae.html instead of http://www.example.com/page.html
Please contact your webmaster if you are not sure what goes wrong.
I will assist you with your side of the debate.
In 1980 what was the exchange rate?
In 1980 what was the GDP per capita? (Keep in mind it was 1980 USD)
In 1980 what was the foreign exchange reserves? (Again 1980 USD)
In 1980 what was the oil production?
You can find some of the answers here:
GDP: GDP per capita, current US dollars
Iraq: Financial Position in the Fund
as of April 30, 2007
Summary of IMF members’ quota, reserve position, SDR holdings, outstanding credit, recent lending arrangements, projected payments due to the IMF, and monthly historical transactions with the Fund.
I. Membership Status: Joined: December 27, 1945;Article XIV II. General Resources Account:SDR Million%Quota Quota1,188.40100.00 Fund holdings of currency1,314.41110.60 Reserve Position171.1014.40 Holdings Exchange RateIII. SDR Department:SDR Million%Allocation Net cumulative allocation68.46100.00 Holdings290.49424.29
IV. Outstanding Purchases and Loans:SDR Million%Quota Post-Conflict Emergency Assistance297.1025.00
V. Latest Financial Arrangements:Date ofExpirationAmount ApprovedAmount DrawnTypeArrangementDate(SDR Million)(SDR Million) Stand-By Dec 23, 2005 Sep 28, 2007475.36 0.00
VI. Projected Payments to Fund 1/ (SDR Million; based on existing use of resources and present holdings of SDRs): Forthcoming 2007 2008 2009 2010 2011 Principal
148.55148.55
Charges/Interest
12.2212.634.420.000.00 Total
12.22161.18152.970.000.001/When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.
VII. Implementation of HIPC Initiative: Not Applicable
VIII. Implementation of Multilateral Debt Relief Initiative (MDRI): Not Applicable
Prepared by Finance Department
Kuwait: Financial Position in the Fund
as of April 30, 2007
Summary of IMF members’ quota, reserve position, SDR holdings, outstanding credit, recent lending arrangements, projected payments due to the IMF, and monthly historical transactions with the Fund.
I. Membership Status: Joined: September 13, 1962;Article VIII II. General Resources Account:SDR Million%Quota Quota1,381.10100.00 Fund holdings of currency1,279.2092.62 Reserve Position101.917.38 Holdings Exchange RateIII. SDR Department:SDR Million%Allocation Net cumulative allocation26.74100.00 Holdings140.03523.60
IV. Outstanding Purchases and Loans: None
V. Latest Financial Arrangements: None
VI. Projected Payments to Fund 1/ (SDR Million; based on existing use of resources and present holdings of SDRs): Forthcoming 2007 2008 2009 2010 2011 Principal
Charges/Interest
0.000.000.000.00 Total
0.000.000.000.001/When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.
VII. Implementation of HIPC Initiative: Not Applicable
VIII. Implementation of Multilateral Debt Relief Initiative (MDRI): Not Applicable
Prepared by Finance Department
Lets look at comparing the two... It seems to me that Iraq is not sitting to bad. I cant imagine what they can generate when things start to improve and the oil starts pumping. I would like to get others take on the this. Also researching the total reserves held by Iraq in the IMF from 1985 to current, their recerves have increase astronimically in the past 5 years......go figure..... Some great info out there people just take a look at the IMF site under country date and statistics.
I hope this post OK so you can read!
Cash OUT!
Oh look at the article on the top right of Iraqs file and it refers to the Special Drawing Rights. This could be why we have just recently seen their reference to SDR on the CBI.
It's coming folks...............
Sorry it completely changed the format of the document and is rather hard to read now......
A little something about quotas:
Factsheet - IMF QuotasQuote:
When a country joins the IMF, it is assigned an initial quota in the same range as the quotas of existing members considered by the IMF to be broadly comparable in economic size and characteristics.
February 28, 1984 ---- 504,000
September 24, 2004 -- 1,187,980
A large jump in the IMF Quota. If you research Kuwait, you'll find the quota is approximately the same size.
Thanks Skiier, much appreciated. Did you take a look at Seaview's link? It definitely says that 14 new denominations were printed, but does not say when they were printed. As far as I can tell, it was before 2006 and includes the notes will all hold. Some one smarter than me needs to take a look. It also mentions the ISX, but nothing significant that I can tell. Can't read the whole document, just the first page..
Just stuck the following on another thread.
If you go to this link below - it explains a little more, briefly. It is an interview with Hugh Tant on October 22nd 2004. Old I know, but interesting nevertheless.
http://www.usip.org/library/oh/sops/iraq/sec/tant.pdf
The interview needs to be read in it's entirety but if you go to page 6 it states :-
"TANT : Now, with the new dinar, we have six denominations for the people. I understand that they're going to reestablish some coinage and perhaps two additional denominations, giving them a total of eight denominations plus coinage to continue progressing the currency situation."
No timeline.
Thoughts?
hey susie, when is your educated guess? glad your on here today, by the way
i was hoping to wake up taller...........hhhhuuuuuuuuu....oh well.
I'd like to know too...getting in a slight (tighter than I like to be) crunch with bills...We seem SO FREAKIN' CLOSE :flame:...Just wondering if I should go to the bother of switching some accounts around (I HATE doing that! :tongue:) to 'fix' a couple things for now!:wink: lol :cool:
PM if you'd like...I'm just really happy you are back! :drinkbudd :biggrin: Tiff
well i see the coin but the notes add to 7 ...not sure where they got 8 ?? and was there a late note added one that was not avalible when the others where ? as the article states 6 ??
2 coins
50
250
500
1000
5000
10000
25000
Good to hear from you SGS. Stay vigilant and strong. Need your smiles and input in this forum. Back to lurking.