Iraqi Dinar Discussion Board

[nid4u]

The IMF's "Stand-By Arrangement" for Iraq was to expire on that date, although if I remember correctly, it was extended to September. If I've messed up that extension part, somebody correct me...

You are right. It is the SBA only. They (IMF) never made reference to extending the present rate of the Dinar. Darock made several and insightful posts on it. You can also go to the IMF website and read for yourself. I believe this is actually a good thing extending it. The CBI will be off of the control of the IMF's artificial rate. They can set a floating peg at what they want to. The Gov. of the CBI has stated that he wants the old rate back and will not allow Iraq to be bought up for pennies when the FIL is inacted along with the ISX. Just a matter of time.
from iif