Article XIV - Transitional Arrangements

ESTE ARTICULO ES EL QUE MANTIENE AL DINAR COMO ESTA Y LOS FAMOSOS RUMORISTAS SE PASAN INVENTADOSE CUENTOS Y EMBUSTES DEL RV DEL IRAQUI DINAR Y NO SABEN LO QUE DICEN PERO LO DICEN CON TODOS LAS INTENCIONES E COGERLOS DE PENDEJOS PA QUE USTEDES SALGAN A COMRAR MAS DINARES !

ESTA ES LA PRUEBA MAS CONTUNDENTE EN CONTRA DEL RV DEL IRAQUI DINAR !

TMBN DESMIENTE LOS EMBUSTES FOMENTADO POR "PUERTO RICO" QUE DICE QUE EL DINAR ESTA FLOTANDO EN EL FOREX !

ESTE ARTICULO DESMIENTE TODO Y CADA UN DE LOS RUMORES DEL RV DE IRAQUI DINAR !

DOES CHAPTER 7 COME TO MIND ?

COQUI # 1 INDISCUTIBLEMENTE !



PAGINA 1

"Iraq’s exchange rate regime is classified as stabilized against the U.S. dollar.
Iraq continues to avail itself of the transitional arrangements under Article XIV.

http://www.imf.org/external/pubs/ft/scr/2010/cr1072.pdf




Articles of Agreement of the International Monetary Fund
Article XIV - Transitional Arrangements

Section 1. Notification to the Fund

Each member shall notify the Fund whether it intends to avail itself of the transitional arrangements in Section 2 of this Article, or whether it is prepared to accept the obligations of Article VIII, Sections 2, 3, and 4. A member availing itself of the transitional arrangements shall notify the Fund as soon thereafter as it is prepared to accept these obligations.

Section 2. Exchange restrictions

A member that has notified the Fund that it intends to avail itself of transitional arrangements under this provision may, notwithstanding the provisions of any other articles of this Agreement, maintain and adapt to changing circumstances the restrictions on payments and transfers for current international transactions that were in effect on the date on which it became a member. Members shall, however, have continuous regard in their foreign exchange policies to the purposes of the Fund, and, as soon as conditions permit, they shall take all possible measures to develop such commercial and financial arrangements with other members as will facilitate international payments and the promotion of a stable system of exchange rates. In particular, members shall withdraw restrictions maintained under this Section as soon as they are satisfied that they will be able, in the absence of such restrictions, to settle their balance of payments in a manner which will not unduly encumber their access to the general resources of the Fund.

Section 3. Action of the Fund relating to restrictions

The Fund shall make annual reports on the restrictions in force under Section 2 of this Article. Any member retaining any restrictions inconsistent with Article VIII, Sections 2, 3, or 4 shall consult the Fund annually as to their further retention. The Fund may, if it deems such action necessary in exceptional circumstances, make representations to any member that conditions are favorable for the withdrawal of any particular restriction, or for the general abandonment of restrictions, inconsistent with the provisions of any other articles of this Agreement. The member shall be given a suitable time to reply to such representations. If the Fund finds that the member persists in maintaining restrictions which are inconsistent with the purposes of the Fund, the member shall be subject to Article XXVI, Section 2(a).

http://www.imf.org/external/pubs/ft/aa/aa14.htm





PAGINA 1

"régimen de Irak del tipo de cambio se clasifica como estabilizado frente al dólar de EE.UU..
Iraq sigue acogerse a las disposiciones transitorias en virtud del artículo XIV.

http://www.imf.org/external/pubs/ft/scr/2010/cr1072.pdf



Convenio Constitutivo del Fondo Monetario Internacional

Artículo XIV - Disposiciones transitorias

Sección 1. Notificación al Fondo

Cada miembro notificará al Fondo si tiene intención de acogerse a las disposiciones transitorias en la Sección 2 del presente artículo, o si está dispuesta a aceptar las obligaciones del Artículo VIII, Secciones 2, 3 y 4. Un miembro que se acoja al régimen transitorio deberá notificarlo al Fondo tan pronto como está dispuesto a aceptar estas obligaciones.

Sección 2. Restricciones cambiarias

Un miembro que haya notificado al Fondo que tiene intención de acogerse a las disposiciones transitorias en virtud de esta disposición puede, no obstante las disposiciones de los demás artículos del presente Acuerdo, mantener y adaptar a las circunstancias cambiantes de las restricciones sobre los pagos y transferencias por transacciones internacionales corrientes que se en vigor en la fecha en que se convirtió en un miembro. Los Miembros deberán, sin embargo, tener en cuenta continua en sus políticas de cambio a los propósitos del Fondo, y, tan pronto como las condiciones lo permitan, los Estados miembros tomarán todas las medidas posibles para establecer acuerdos comerciales y financieros con los demás miembros que faciliten los pagos internacionales y la promoción de un sistema estable de tipos de cambio. En particular, los miembros deberán retirar las restricciones mantenidas de conformidad con esta Sección tan pronto como tengan la certeza de que serán capaces, en ausencia de tales restricciones, para resolver su balanza de pagos de una manera que no gravar excesivamente su acceso a los recursos generales del Fondo.

Sección 3. Acción del Fondo en relación con las restricciones

El Fondo informará anualmente sobre las restricciones vigentes en virtud del artículo 2 del presente artículo. Cualquier miembro de retención cualquier restricción incompatible con el Artículo VIII, Secciones 2, 3, o 4 consultará anualmente con el Fondo en cuanto a su ulterior mantenimiento. El Fondo podrá, si lo juzga necesario y en circunstancias excepcionales, presentar a cualquier miembro que las condiciones son propicias para la supresión de cualquier restricción en particular, o por el abandono general de restricciones, incompatibles con las disposiciones de los demás artículos del presente Acuerdo . El miembro se le concederá un plazo adecuado para responder a dichas representaciones. Si el Fondo considera que el miembro persiste en mantener restricciones incompatibles con los propósitos del Fondo, el miembro estará sujeto al Artículo XXVI, Sección 2 (a)

33. Las autoridades están comprometidas a un régimen de libertad cambiaria y la eliminación de todas las restricciones de la jurisdicción del Fondo. Irak tiene una cuenta corriente en general, sin restricciones régimen y una cuenta de capital liberalizado considerablemente. Sin embargo, cuatro medidas han sido identificados para dar lugar a restricciones de cambio sujeto a la aprobación del Fondo. Tres se refieren a una obligación de pagar todas las obligaciones y deudas con el gobierno antes de los pagos correspondientes se transferidos al extranjero, y uno a un acuerdo sin efecto los pagos bilaterales con Jordania. Las autoridades están considerando medidas para eliminar las restricciones identificadas, con el fin de aceptar el Artículo VIII del Fondo de Artículos de Acuerdo, pero puede tomar tiempo para resolver la última restricción debido a la espera de la resolución de las deudas de Irak a Jordania.

PAGINA 20
http://www.imf.org/external/pubs/ft/scr/2010/cr1072.pdf




33. The authorities are committed to a liberal exchange regime and to removing all
restrictions under Fund jurisdiction. Iraq has a generally unrestricted current account regime and a significantly liberalized capital accountHowever, four measures have been identified to give rise to exchange restrictions subject to Fund approval. Three relate to a requirement to pay all obligations and debts to the government before relevant payments are transferred abroad, and one to an inoperative bilateral payments agreement with Jordan. The authorities are considering measures to remove the identified restrictions, with a view to accepting Article VIII of the Fund’s Articles of Agreement, but it may take time to resolve the last restriction because of the pending resolution of Iraq’s debts to Jordan.


PAGINA 20
http://www.imf.org/external/pubs/ft/scr/2010/cr1072.pdf

57.El personal también insta a las autoridades a seguir adelante con sus planes para liberalizar el régimen del tipo de cambio mediante la eliminación de las restricciones de cambio que se incluyen en el Fondo jurisdicción. En concreto, que las autoridades se anima a establecer un calendario para eliminar estas restricciones con prontitud, y posteriormente a aceptar las obligaciones en virtud del artículo VIII, Las secciones 2 (a), 3 y 4.

PAGINA 25

http://www.imf.org/external/pubs/ft/scr/2010/cr1072.pdf



57. Staff also urges the authorities to move forward with their plans to liberalize the exchange regime by removing the exchange restrictions that fall under Fund jurisdictionSpecifically, the authorities are encouraged to establish a timetable to remove these restrictions promptly, and to subsequently accept the obligations under Article VIII, Sections 2(a), 3, and 4.

PAGINA 25

http://www.imf.org/external/pubs/ft/scr/2010/cr1072.pdf

NO EXISTE LAS INTENCIONES POR PARTE DEL CBI NI EL FMI EN CAMBIAR EL TIPO DE CAMBIO DE IRAQ.

EL ACTUAL RATE ESTA CLASIFICADO COMO UN ESTABLE @ 1170 !

TOMAAASE ESE FAMOSOS EMBUSTEROS !

3
VIII. Safeguards assessments:

The Central Bank of Iraq (CBI) is subject to an update safeguards assessment in respect
of the proposed SBA. The earlier safeguards assessment, in conjunction with the SBA
approved on December 19, 2007, was finalized on March 7, 2008. It concluded that
accounting and control governance at the CBI needs to be strengthened. Steps are being
taken to address the issues that continue to give rise to heavily qualified external audit
opinions, but accounting and internal control procedures are not yet fully effective.
Measures to mitigate the safeguards risks, notably through continued external audits
and adoption of foreign reserves management guidelines were recommended.

IX. Exchange rate arrangement:

The Central Bank of Iraq has been conducting foreign exchange auction on a daily basis since October 4, 2003.The central bank followed a policy of exchange rate stability which has translated in a de facto peg of the exchange rate since early 2004. However, from November 2006 until end 2008, the CBI allowed the exchange rate to gradually appreciate. As a result, the exchange rate arrangement of Iraq was reclassified to the category of crawling peg effective November 1, 2006. Since the start of 2009, the CBI returned to its earlier policy of maintaining a stable dinar. Consequently, the exchange rate arrangement of Iraq was reclassified effective January 1 2009 as a stabilized arrangement.

Iraq continues to avail itself of the transitional arrangements under Article XIV. Iraq has
a generally unrestricted current account regime and a significantly liberalized capital
account. However, four measures (plus one exchange restriction maintained for national
or international security) have been identified to give rise to exchange restrictions
subject to IMF approval, namely, (i) the requirement to pay all obligations and debts to
the government before proceeds of investments of investors, and salaries and other
compensation of non-Iraqi employees may be transferred out of Iraq, (ii) the
requirement to submit a tax certificate and a letter of non-objection stating that the
companies do not owe any taxes to the government before non-Iraqi companies may
transfer proceeds of current international transactions out of the country, (iii) the
requirement that before non-Iraqis may transfer proceeds in excess of ID 15 million out
of Iraq, the banks are required to give due consideration of legal obligations of these
persons with respect to official entities, which must be settled before allowing any
transfer, and (iv) an Iraqi balance owed to Jordan under an inoperative bilateral
payments agreement. In addition, one exchange restriction maintained for security
reasons should be notified to the IMF under the framework of Decision 144-(52/51).

http://www.imf.org/external/pubs/ft/scr/2010/cr1072.pdf