4-2-2014 Newshound Guru Kaperoni

4-2-2014   Newshound Guru Kaperoni   Article:  "Statement by the IMF Mission at the Conclusion of a Staff Visit for Iraq"  Quote:  “The exchange rate—supported by ample international reserves of the central bank—provides a key nominal anchor to the economy and has served Iraq well. We encouraged the Central Bank of Iraq to renew its efforts to liberalize gradually the foreign exchange market, further reducing the spread between the auction and parallel market rates."  What this means is the IMF is saying you have done a good job building  hard currency reserves which have stabilized the exchange rate and economy within Iraq (this is the purpose to be in Article XIV).  [post 1 of 2....stay tuned]