Iraqi Dinar Discussion Board

[Aerospace]

Letter of Intents are submitted by countries seeking a Standby Arrangement with the IMF (line of credit)
Iraq’s latest letter of intent was filed in February and was done so because they were asking for an extension of the Stand By Arrangement

http://www.imf.org/external/np/loi/2007/irq/022307.pdf
To allow more time to reach the objectives and
complete the reforms under the SBA, we request an extension of the current SBA by six months to September 28, 2007.

Within the Letter of Intent a country might explain their intentions for the exchange rate. Like Iraq did in theirs.
11. To help curb inflation the CBI will continue its tight monetary policy stance and
allow the exchange rate to appreciate gradually, assuming the inflationary situation warrants
a continuation of this policy. The CBI also stands ready to further increase its policy interest
rate, if needed and effective to bring inflation down.

I’ve seen nothing about a new letter of intent for article 4.… it really makes no sense because per IMF procedures a Letter of Intent is not part an IMF review of article IV.
If you have links to this info I’d love to see it. Not trying to challenge you here... just that I would love to see where this info came from.

I do agree that it was a very positive sign that they reduced Money Supply over the last couple reported months…. Yikes…
Just checked the CBI Key Financial document… it’s now shows 23.5 trillion