[via PDK] Question: Can Iraq do everything in their budget with the 1100 rate that is going now? MarkZ answer: No, it will be in the hole if they do it with the 1132 rate…but it gets them a lot closer though. Question: What do you estimate the NEER [Nominal Effective Exchange Rate] rate would be necessary to do their projects? MarkZ answer: About $1.30 based on all the math that we have done, that many have done, would be the cheapest NEER rate that they can get away with, but then again they won’t be able to achieve the final value that they want if the come in that low.
