From a Powerpoint presentation by the CBI just today. Highlights at the bottom and commentary by Kaperoni.
[link to www.authorstream.com
[link to dinaralert.webs.com
5 - the Bank's approach for the coming years in light of the results of the analysis of the bank current and benefit from the results Bank adopts the following plans:
"Achieve stability in the exchange rate of the Iraqi dinar in the context of a flexible exchange rate system orbit. " - That means free float! Google it!
And this great quote...
"C - the issuance of currency - moving towards maturation of the project to delete three zeros from the Iraqi dinar, any so-called reform of the currency management system (Rebasing)." So as the dinar goes up in value, they will issue new smaller notes - as they say..."moving towards maturation of the project to delete three zeros from the Iraqi dinar" In other words, as the rate rise, the zeros will come off.
It's pretty much the entire plan laid out.
I will just add, IMO, the float must start ASAP...they are following the National Development Plan 2010-2014. Remember what the World Bank said would occur in 2014? Iraq would be a "doner" state. Therefore, the dinar must have value, and the deletion process must be done before then. There also have been articles that say that they will delete the zeros in 2014 which means the the value will be 1 to 1 or higher by then and the transition will be complete.