New IMF Arrangement for Iraq

It’s not often we get one of these – an actual IMF press release! The IMF announced today that a two year stand-by arrangement has been approced for Iraq in the amount of $3.64 Billion (2.38 Billion SDR) to cover the balance of what Iraq needs to pay. $455 million has been approved to be made available to Iraqi authorities immediately.

Full release here:


I let everyone know in chat the other night that this was coming, I hope you were listening or were on the email list or at least had someone who forwards you the emails! There are a couple more things coming, so stay tuned – this ride is just about over!


-Adam Montana

88 Responses to “New IMF Arrangement for Iraq”

  1. Georgia says:


  2. Norma (honeypaws) says:

    This report sounds so positive and lays to rest the question of why Iraq was not taking the loan they had worked hard to get. We see now that this is in place, and it does look like everything is stacking up to bring forth the occurrence we have all been waiting for.
    Thank you for passing this along to us.

  3. Bobby Murry says:

    Sounds like great news ! As you say maybe this ride is almost over ! One day closer !!!
    Thanks so much for all the hard work and updates !

  4. Roger Chandler says:

    I can see that this IMF loan is a part of the gradual strengthening of Iraq and her currency. How does this effect RV or another way to quickly strengthen the IQD the way us as investors would like?

  5. Sandra Kaye says:

    Thank You For All You Do! This has been a long ride and hopefully the road is coming to an end.

  6. Blackdog says:

    There was something in the IMF press reaease that really got me: “their economy was severly affected in 2009 by the drop in International oil prices”. The oil exporting countries were doing just fine when the price of oil was in the 40’s and 50’s, but not any more. Take a look at Dubi, they are building the largest and most expensive of everything, airoprts, buildings, 7 star hotels, and entertainment cneters. What is their GDP based on, OIL ONLY. Like all the surrounding oil exporting Arabic countries they claim revenue from many sources, like “services, tourism…”. Without the oil they would not need the services, etc. The IMF is right, when the rest of the world economies suffers from high oil prices then OPEC countries are doing quite well. They have gotten used to the high incomes, like walefare babies, they have raised their national budgets and claim they can’t get along with less. Please don’t wait for oil prices to head back up to $150 and think this will make you a lot of money, off the economic misfoutune of others. All of our IQD will have good value without oil returning to it’s recent staggering high.

  7. Tom G says:

    What happens if I do not cash in my Dinars in the time frame that will be established because I want to hold to them believing that they will go up in value down the road?

  8. Paul (lambert) says:

    Thanks Adam. I read last week about the scheduled meeting but did not expect anything so quick! This does sound promising. Thanks many times over for your work

  9. joem says:

    so how dose this help increas the value of the dinar

  10. Dennis says:

    The following statement was made in the PR: “Monetary and exchange rate policies will continue to aim at keeping inflation low.” I am curious at what this means in terms of an RV – How will a low or high RV work to keep inflation low?

    • Adam Montana says:

      Dennis, good question.

      Iraq has done a fantastic job of keeping inflation low, which is absolutely critical for our investment to make any gains. The RV itself won’t affect inflation, that is done through other means right now.

  11. KathyJB says:

    So as long as I read my newsletters, I will know when to cash in? This is kinda scary and exciting all at the same time. Just to be sure, the newsletter is the email I get from Adam?

  12. dee says:

    Is this the last week to buy Dinar in the uS?

  13. Fred Brooks says:

    Adam I pretty much stay quite, and as a lot of people I hope the rv comes soon but I wanted to just say thank you for all the the information you send I look forward to reading it thanks again . Fred

  14. Bob Butler says:

    What is the deadline for turning in your Dinars? Do we have to claim this on taxes?

  15. Yeah yeah yeah says:

    Less than 4Billion? What are you guys, morons? 4B? We’ve spent hundreds of B’s on this war and so far, we got a lousy tshirt. So now you think you’re going to be millionaires because it’s going to RV? uhuh…right

  16. Deb says:

    I am trying to get on the newsletter list but iI don’t find any place to sign-up on this page – where can I get signed up?
    I have been following your great information for quite a while and I don’t want to miss out in the end.

    Thanks for all the great work!


  17. Henk B says:

    I have made contact with Warka Bank and they will take delivery of IQD notes if you have an account of course. Has anyone gone through this procedure? Especially good if you have a bundle of 250 notes in my humble opinion.

  18. constance ranaldson says:

    Adam thank you for the post…but one question…Can this also mean Iraq does not have to RV now because they have the IMF loan? Can this loan help them to stall the RV longer?

  19. Robert says:

    I did not get the info on the deadline date for cashing in the Dinar and can we hold back some and cash it in latter when they go up more. Thank you Robert

  20. bc-believer says:

    Adam,I was wondering why when I click on your newly revamped site, it’s blocked at first. BTW, It’s “” that is blocked by my Malware software. Then, “D-Spec” will come up shortly. So what I’m asking is, why does your site try to connect to “D-Vets,” first? And why does my Malware software tell me that “D-Vets” is a malicious IP. Just Curious?? Thanks for the hope! “We need hope to cope!”

  21. cis says:

    I believe this is it. Praise the Lord for He is good and faithful all the time. Adam, thank you so much for all your hard work you’ve done. It more blessed to give than received. May God bless you and prospereth you in all that you doeth. Keep on posting the good news. -Chang

  22. mike qurban says:

    Why is the rates at 1170 for so long? even with all the positive development there, IF this happen I believe the iraqis will gain the most , so why delay anymore, cheers

  23. bwilson says:

    I think an Adam Montana superhero should be added to a line of super hero action figures!

  24. Reba Johnson says:

    The last email I got from you was 2/18/2010…did you take me off your list?
    Why me!

  25. emiyoly says:

    Like always Thx Adam for all your effort and info..

  26. FjS says:

    That’s’ great news Adam ! Thanks for keeping the dream alive. I do feel the end is near !

  27. Steve says:

    3.64 billion, small change

    Iraq doing 3 million barrels a day at $80 a go so about twenty days oil production = 3.9 billion so how do any of you think this is a big deal

    Iraq has had these standby loans from the IMF before and as of now they have not had to use them at all so far

    So again whats the big deal about this one

  28. Steve says:

    Here you go boys and girls

    You can sign on for email updates on what ever countries you like and all for free

    Now play nice

  29. Ronnie F. says:

    Henk B: I have opened a Warka account for investing in ISX. However this opens the door for a safe place to keep your Dinar also. You are heading in the right direction. GO DINAR

  30. Dennis says:

    Thanks Adam, but isn’t an RV itself a “exchange rate” policy that they indicate will be used to keep inflation low? I took it like this RV or any other exchange rate will be integrally involved in keeping their inflation low.

  31. Steve says:

    Iraq made $4.4 Billion in oil sales in Jan last month

    So why the whoo hooo for 3,64 Billion standby loan from the IMF

  32. debono35 says:

    question,are you speculating the rv will happen in the next year?thanks for the info adam,i have 25,000 notes and i want to keep up with the news so i can cash them in before they have no value.good luck to us all!

  33. scott says:


  34. Michele says:

    Adam I tried to open a Warka Account, but it asked for passport information. I do not have a passport so do you have to have a Warka Account or is it just suggested?

  35. Steveh12 says:

    Looks Good People.
    Thank You Adam!

  36. shenew says:

    Thanks Adam I appreciate the work you do to keep us informed and get us ready for the RV.

  37. Krystal says:

    What is the difference between RV and redenomination?

  38. Caleb says:

    Notice on this page: (notice the date). The loan is for 2.38 billion SDR (SDRs are the IMF’s monetary unit of measure). The equivalent of 3.64 billion USDs. The kicker is that if Iraq has to pay this off using a Dinar that is currently worth 0.000570626 per SDR ( their debt is $4,170,879,897,936.12 SDR’s or about 6 trillion USDs.

    The question is: How can any economy stay viable with that kind of debt? Not only that, but it is a TWO YEAR PROGRAM! Iraq is supposed to pay this off in two years?! I have to ask myself if the IMF is so magnanimously stupid to crush a country with that kind of debt and expect to get paid back, or do they know something we don’t, or do they just want to destroy Iraq.

    Check out this quote from the press release “The budget deficit is targeted to decline to 19 percent of GDP in 2010 and further to 6 percent in 2011, before shifting back into surplus in 2012. Monetary and exchange rate policies will continue to aim at keeping inflation low.”

    So how do you keep inflation low with a 6 trillion dollar dept sitting on your neck like an albatross?

    I’m just sayin……


  39. Krystal says:

    From what I am getting, they are going to redenominate the currency by lopping 3 zeros from the current currency. In other words we will trade our 25K dinars for 25 dinars and the trade rate will be 1 USD = .86 IRQ making our 25 dinars worth roughly $21?

  40. Neena says:

    Adam thanks for the info. When do you think the RV will happen(I did not understand how this will effect the RV).

  41. Miss Dawn says:

    Hello Adam,
    I am very appreciative for the updates that you send out each time. I am learning so much on this sites. Thank you so much for the good work that you are doing for us. Good people like you are very hard to find these days. Don’t give in to those who try at all times to put you down because you can never be able to please every one.
    just keep on doing the good work that you do for others like me.
    I do hope that good things will soon happen for all of us… rv

  42. julius says:

    Is the rv before the election

  43. BOBBY JONES says:

    It would seem to me that if they are getting this US$3.6Billion Stand-By Arrangement that they would NOT have the US$ to either RI or RV? What say you?

  44. jose perez says:

    thanks adam great info maybe this christmas will be a lot better and we will see an R/V.

  45. Ray says:

    Adam where is a Warka bank? Am I supposed to open an account with them in order to cash in my Dinars?

  46. greg says:

    If I open a Warka account how do I get my Dinars that I have in hand into that account. Ive been told I could mail them but is that safe.

  47. Yolanda Moore says:

    Thanks Adam for all your hard work and in keeping us informed. Again THANK YOU!!

  48. jesse says:

    Adam, I don’t ask many questions, but please help me with this one… All of the people that have not gotten a warka account like myself and are holding a large amount of 25000 notes like myself… When the RV hapens where will we be able to exchange them? Thanks so so much for the constant updates! No matter what anyone on here says, you’re ok in my book!!!

  49. Louis says:

    Do you guys just write stuff because there is nothing else to say.

    I mean deducing that the Dinar will be worth $2.30 because there was an article stating NASA would explore Mars by 2030 is quite a streach.

    I just finished Law School and if we used that type of reasoning on our exams our professors would laught at us as they gave us a big F.

    So with all due respect, please try to be a bit more intellecually honest in your far our conclusions from baseless facts.

    That’s like saying that killer whale killed that poor lady at 152 pm, so the dinar is going to be worth $1.52 and since it happned on a Wednesday that means the RV will happen on a Wednesday.

    Come on guys, try to have some level of intelligence.

  50. Steve says:

    Iraq has 25 Gigantic or large size known oil fields, that means they have at lest 5 billion barrels of oil and one field has 13 Billion barrels of oil, so if we just take the 5 billon barrels from these wells each we are looking at 4.4 Trillion $dollars and there will be many more giant wells comeing on stream when the oil major’s start up operatins in the near future
    Iraq is as people have said before that Iraq is floating on a lake of oil
    Soon as Iraq can get out of article VII and get back into Iraq all the assets that were locked down from one of Saddams wars, as it totals a shed load of money and a heap of gold in a Swiss bank
    Then when the Iraqi’s can get out of the habit of killing each other and think they are Iraqi first then what ever tribe they are in, cuz vast richs are around the corner for Iraq and all of its people
    Iraq will be a very wealthy country in the not to distant futureif not the richest country in the world

  51. Steve says:

    Think of the IMF stand by loan as an overdraft to the country, just cuz you got it duz not mean you have to use it as they did not use the last two they had at all

  52. Bill Shaw says:


    Thank you for your efforts in keeping us informed. My questions are: Will there be a time limit on cashing in the dinar that we have? Will it be smarter to sell ASAP or hold out for a better rate?

  53. John says:

    So, if the notes change, it can appear only with a RV? Thx

  54. Caleb says:

    What do you guys think? Am I looking at the numbers the right way? See my post above. If I’m right, they have to RV before the first loan payment.

  55. Steve says:

    When will the dinar RV who knows? no one knows when it will happen and anyone telling you of a date and value for the dinar is talking out of their arse
    I do wish you people would read the posts before you add more of the same old same old

    There is only three things you can do with your dinar
    One, Cash in your hand
    Two, Cash in a Warka account
    Three, Shares in the ISX
    Spread yours in those three then you can rest easy

  56. Joe says:

    The have the new notes they added on the cbi site,bottom right corner of the front page.
    Not sure what it means for us but there their now.

  57. sasha says:


    The loan is for $2.38 billion SDR the equivalent of $3.64 billion USDs. You dont need to do any fancy math. They tell you $3.64 Billion NOT $6 trillion.. Thats 2,000 % more than the loan. You need to check your math.

  58. Steve says:

    Info from the American contractor 26th Feb 2010

    The International Monetary Funf (IMF) issued a stand-by-agreement (SBA) loan to Iraq for 3.6 billion usd. This isthe third SBA loan to Iraq. It is a credit line of 3.6 billion dollars for the govenment to use to cover any shortfalls in the current 2010 federal buget

    Just because the IMF issued a loan does not mean the Iraqi government has to spend the money, I do not believe that Iraq will spend any of the money from the SBA loan. It is my beliefs that the Iraqi government will hold the SBA funds and not spend a single cent just like they did with the other two loans

    The 2010 federal buget was based on $62.50 a barrel of oil and the Iraq federal budget does have a deficit of 19.6 billion dollars
    if the price of oil is hovering around $80 and the analysts have stated the price of oil could go up in 2010 then the deficit is not a problem for Iraq. Meaning the government would not need to spend any of the money of the third SBA loan from the IMF

    By the way, the IMF loan has nothing to do with a reval or the changing of the Iraqi dinar currency

  59. yaya bamba says:

    hey Adam
    thx for keeping the spirit up we sure need that.
    I do need to comprehend some about the denomination that in my understanding will come with the RV.?.! beacause having a million IRD in 25k notes is not the same as 1 million IRD in 25 notes ( if they slush 3 zeros).
    please tell me some about it if you do have an answer at the moment.
    PS. keep up the good work.

  60. Ronnie F. says:

    I had a problem this morning signing into my Warka account. The link they gave me doesn’t work.Here is the link Also, when I tried to actually sign into the account from the Warka site, here is the error message i received, There is a problem with this website’s security certificate. When I click on more information, this is what it tells me,
    If you arrived at this page by clicking a link, check the website address in the address bar to be sure that it is the address you were expecting.
    When going to a website with an address such as, try adding the ‘www’ to the address,
    If you choose to ignore this error and continue, do not enter private information into the website.

    For more information, see “Certificate Errors” in Internet Explorer Help.
    I have notified Warka of the problems this morning. FYI to all.

    Good luck to all

  61. Brad says:

    Has anybody here recently opened a Warka account using their online method? It doesn’t seem very secure. Any thoughts/opinions regarding their security features? I have heard that they are extremely slow regarding transactions, and that is a bit scary. Thanks

  62. Reba Johnson says:


  63. Steve says:

    Before the war there were no computers in Iraq banks it was all done on a one to one face to face
    They have done very well in getting to grips with all the modern technology that is used to run a bank these days,if you need to know something about the Warka bank then ask the man at the bank, Mr I, send him an email at, and ask away he is the top man to deal with the none Iraqi bank accounts he is fast with a reply and will answer any and all questions about the bank
    You can get most of the bank info from their site on, plus you can sign on to your account from this site
    There seems to be a lot of people who still do not know what all the denominations look like go to this site, the top seven are the new notes the rest going down to when the UK was running the country after the 1st world war
    I have been told by a very knowledgeable guy in the US that the Warka bank runs the same type of system as do Swiss banks but the Warka bank is a more secure system so you can sleep easy

  64. Steve says:

    You do not need a passport to open an account with the Warka bank, you can use a driveing licence, or any document that has your name, address, signature, and put on a small passport size picture.

    Then print off a copy
    Get anyone to sign on any spare part of the paper to say that it is you
    Scan it in as an attachment to an Email and send it to
    With a short message saying you would like to open an account with the bank and the info needed is on the attachment

    If you want to send your dinars to Iraq for your Warka account, yes some have gone missing but only a few, its like the story that is passed on a lot it gets added to each time so it ends up with most of them getting lost
    So the safe way is to sell your dinars here even at a small loss as when you then wire the funds to your $dollar account you then yransfer it into your IQD account and you get the CBIs exchange rate which is the best you can get, so you will make up for the small loss you had on selling your dinars at home, and most times you will more than make up for it, have a look at these,
    You can never have to much info

  65. teddy says:

    I live in hawaii and need sum advice in my dinars on were to exchange it if the rv happens.what is the best people talking warka or isx

  66. TIM says:


  67. mikieray2003 says:

    I’m new to this website, what does I.M.F stand for? Plus; will a loan of that size increase the value even to that of the U.S. dollar? Would it meet this standard in less than a year?

  68. Joe says:

    Teddy you will have to check with your local banks most of the big ones most likely will exchange it after the RV or look up dinar trade they have offered to beat most banks but that might mean a flight for you.

    Have you guy seen this?

  69. Joe says:

    They really used the word RV and it was M that siad it.It the first time I have ever seen the word RV come out of Iraq in any art..

  70. Brad says:

    Thanks for the replies regarding Warka. Another question for you all. I have read in several different posts on here on the site about “diversifying”. I can’t tell whether the posters are talking about investment diversification in general, or specifically about the IQD. If this is specific to diversifying with respect to the IQD, how exactly can you diversify? I have paper currently. Are there other methods of having the IQD which could potentially provide better rates of return?

  71. Radenf54 says:

    Hi Adam,

    I already submit my application to open Warka saving account on 28 Feb. 2010 and completed option 1 and 2. How long will it takes to be approved by warka bank officer. Thanks

  72. 1noreene says:

    Aloha teddy:

    I also live in Hawaii (on Maui) I need to look into warka & isx myself but after some research, we are also considering going to the mainland when the rv happens, probably Chase or Wells Fargo. There are presently no banks in Hawaii to handle this. Follow Mr. Montana’s advice re: exchanging dinars. You’re safe there for sure. We will go where the most reasonable exchange fees are. Hope that helps.

  73. dscho says:


    where did you find the info regarding Chase and Wells Fargo?

  74. Ida says:

    Thanks for the info :)

  75. Lars Rosenstam says:

    Hej here is Gothenburg, Sweden. I have followed his for about 5 years and maybe this vill be the end of the road? Have the best Lars

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