In Pimpy's Investment Chat

There’s been a lot of chitter-chatter about the IFEX conference…It was Allak who spoke about the dinar during the conference. This is what Allak said. The dinar must first be stable in the country before it can be international.  But he also said… Iraq was open for business and that he encouraged outside investors to come in. We also know…if they’re gonna come in and do business a couple of things must happen. One is Iraq has to have an internationally recognized currency. There is no “ifs” “ands” or “but’s” about it.  Not only that you have to change the rate in order for outside investors to come in or it’s too expensive. Sure the labor is cheap in country but importing good from other countries that they will need to get their businesses going it’s just too costly. So rate change is gonna have to happen.