The web’s only RV-O-Meter will gauge the progress of the revaluation of the Iraqi Dinar as news, information, and intel is made available. As of January 11, 2012 the RV-O-Meter remains at a high-grade warning to “Prepare for Cash In” The web’ s first and only RV-O-Meter remains at a weighted confidence level of 99.2%; The highest recorded level ever on the RV-O-Meter to date. The RV-O-Meter adjusts based on positive or negative significant events, achievements, and confidence levels.
Key events currently taking place:
•In December 2011 the CBI announced t was important for government politicians to be supportive of an Iraqi currency reform plan, specifically the dropping of the zeros. Also stated the reform would take place in 2013. •CBI announces in January 2012 it has completed the first of three phases in its plan to reform the currency policy in Iraq. While the second and third phase remains unknown the first phase included the purchase of equipment to implement the project (note: Keep in mind it was announced Oct 25, 2011 the CBI purchased 10 machines from De La Rue for $15 million. Furthermore several articles have stated the CBI has supplies on hand to implement the dropping of the zeros). •CBI announces the currency reform will take place by the end of 2012 •CBI announces its position the withdrawal of US forces would create economic opportunity for Iraq as well as being a precursor for Chapter VII sanction relief; Says international banks would move to the country post Chapter VII. •CBI places importance on June 2012 as it predicts a Chapter VII release date which corresponds which corresponds with the expiration of Executive Order 13303. •CBI supports the Iraqi economy with record high foreign currency reserves of $60 billion •Iraq inflation continues near 7%; Nearly double from 2010 •We are seeing increased improvements to Iraq banking sector by way of telecommunications, electronic banking technology, credit card processing, and international banking facilitation. Furthermore we are seeing the CBI implement technology which allows private and government ran banks to communicate electronically. •In December 2011 the UN told Iraq to speed up Kuwait resolutions; Taking too long •UNAMI representative Kobler outlines the outstanding issues as demarcation, missing persons/property, transfer of tribes and farmers along border, reparations negotiation between Iraq-Kuwait, and Maliki’s letter to Kuwait announcing Iraq will never attack Kuwait. •In late December 2011 Maliki announced he is heading to Kuwait to discuss Chapter VII negotiations •In January 2012 Kuwait has announced its welcoming of PM Maliki to Kuwait to “complete” the negotiations and resolve outstanding issues •UNAMI’s has reinforced its position its top priority in Iraq is to find political and economic resolutions including the betterment of Iraq-Kuwait relations •In December International Red Cross conference in Geneva ends with tripartite agreement on Missing Kuwaitis •UN will aid in the mediation between Iraq and Kuwait as requested •Conducive talks between GOI and Kurds over HCL law •GOI (specifically Maliki) reiterates need to bolster investment laws to ease private sector investment (needed for economic sustainment) •US troops have completely pulled from Iraq •UN states Iraq will be an oil power •Iraq’s WTO committee announces while Iraq is ready to move forward with ascension to the WTO it recognizes laws and legislation are needed to match WTO regulations and standards. Key articles: •**CBI: U.S. withdrawal will support the country’s economy •**Iraq Finance Committee: Announces the end of the first phase of the project to delete the zeros from the currency •**CBI: The end of 2012 will see the currency exchange •CBI Public Announcement: The purchase of 10 De La Rue Machines •CBI says important for Iraqi parliament to be convinced to deleted 3 zeroes from the dinar •Economist: Lifting of the zeroes is correct; Is in the interest of raising the value of Iraqi dinar •Kuwait Deputy PM: Report to UN Sec General will show desire to resolve outstanding issues between Kuwait and Iraq •CBI plans to implement a national retail payment system •Kuwait: Maliki’s visit we look forward with interest to complete the negotiations and resolve outstanding issues •Parliamentary committee: 10 oil fields shared with Kuwait, waiting for demarcation of the border •UN ready to assist Kuwait, Iraq normalize relations Overall Summary I often get asked why don’t you update the RV-O-Meter? The answer to that question is unfortunately progress is slow in Iraq. Much of the time its the same scenario week to week. However the past few weeks have offered a bit of encouraging news.The news generating out of Iraq over the past few weeks can be described perhaps as bi-polar. Depending on which headline you read you are going to believe Iraq is heading into a dismal retreat or Iraq is going to flourish and emerge as an economic juggernaut. The Sunni and the Shia sects are up to their disagreements again prolonging the political process. Delays in parliament, failure to come to a meeting of the minds, and more talk of peaceful cooperation seem to be the typical story under politic headings in Iraqi newspapers.