Militia Man If they were reducing the note count all this time, for years, is that 90 trillion outside the [central] bank for real?
Frank26 In order to go from trillions to billions a country must go through a re-denomination of their currency. Iraq will do it by lifting the three zeros and introducing lower notes…
Kaperoni Community Comment: “Hopefully in the next 5 yrs we will see an appreciation of the currency price, based on the last year of progress.” I agree! Iraq has an excellent opportunity now to diversify their economy and develop the banking system.
Pimpy There’s this misconception that the World Bank, IMF and the BIS get to tell countries what to do. They don’t…They facilitate. They make recommendations but they don’t control a country’s bank…
Samson Article: “Iraq at the current stage is unable to exit the policies of the US Federal Reserve,”
MarkZ [via PDK] Out of Iraq – hearing we are supposed to be getting news on Sunday that has to do with the budget but since they have already passed it- does this mean we are getting a rate? Or which projects were executed or started? I do not know.
PompeyPeter If for one second the new rate had been shown the Council of Ministers, the parliamentary Finance Committee or the House of Representatives we would have heard them singing and dancing and cheering from Iraq. We certainly would have seen it from the CBI first. What happened then? …As they’ve said, the amendments were viewed and passed by the Council of Ministers, the amendments of the 2024 budget were then passed to HOR via the Parliamentary Finance Committee…We definitely know the rate hasn’t been exposed.
Militia Man Iraq is moving forward. They’ve got huge reserves…increased their gold, they’re going to have the private sector, their stock exchange is going to be one to reckon with. It’s an emerging market and a lot of money is going to be start flowing…
Frank26 Question: “What is the price of a bottle of Coke in Iraq?” Way too much and that’s why the prices are being adjusted and a new exchange rate will come out to match the new or lower denominations.
RayRen98 [via Babysmom] “US BANK STAFFERS HAVE RECEIVED MEMOS INDICATING TO BE PREPARED AN INFLUX OF CUSTOMERS HAPPENING SOON”
MarkZ [via PDK] I am seeing rates of somewhere between $3.81 to $3.91 from a number of contractors working in Iraq. They are working on infrastructure – everything from hospitals to power grid to roads etc… And I am still thinking it will be $2 something on the dong. I hope I’m wrong and my contacts are right and it’s closer to the $3 mark.
