Wednesday, April 13, 2011

BlueWingedOlive Email: IMF Article Comments & More…

In spite of the assurances from all the gurus and their sources, that the RV is upon us, today’s posting on DD’s Tiodbits of the report posted on the IMF’s own website re: the March 18th IMF/GOI/CBI joint Press Release is a worthwhile read on the issues impacting an RV…remembering the CBI’s monetary policies will backstop any RV, whenever it happens. The IMF’s posting includes its official position on the issues and timing related to the reports by the CBI and GOI and includes direct letters from Shabbibi to the IMF related to the SBA. Shabbibi’s letter appears to include specific reference to the CBI’s current Exchange Rate Policy. The posting also includes Shaalan’s official statement from the Executive Board meeting to the IMF. Both certainly make it appear that am RV is still out, a ways.
Also, the CBI’s seeking an extension to late July in order to complete another external auidit, inclusive of YE2010 Iraqi financials, implies – at least, to my limited way of thinking – that we won’t see an RV, until late 3Q11 or 4Q11 at the earliest. The frequent CBI/GOI/IMF references throughout the lengthy IMF posting regarding the CBI’s commitment to its current exchange rate policy and its monetary strategies don’t seem – again, to my limited way of thinking - to indicate an immediate RV or any other significant change to historic CBI practices, at least in the near term. Admittedly, what I don’t know about global economics could fill the Library of Congress. But, I do understand clearly articulated positions when they’re written and posted on official sites for all to read. Personally, I’ll go with that for my own emotional well being. Bottom line, if I follow my own instincts on whose reports seem most credibile, I’m going with this one. It’s an official publication of the parties responsible for a successful RV, whenever it happens, and contains their clearly stated positions. It’s a very worthwhile read, IMO.
Don’t get me wrong, I’ll be ecstatic if there’s an RV as close upon us as many are suggesting. But, it may be time for a breath of reality or, at a minimum, a healthy dose of skepticsm. Especially so, given the other credible and ”official” on-the-record sources of information available for consideration. Setting so many expectations, based upon inferences and the opinions of private sources (no matter how “highly placed”) doesn’t do oneself favor. If folks have the time, reading this might be a good investment of an hour or so.. LINKMy thoughts, anyway.
BlueWingedOlive

No comments:

Post a Comment

Auto Cad Tutorials