PROFESSOR Continued: Reduce their dependency on the dollar. PIMPY: At the beginning of this year they were not supposed to use the US dollar anymore. PROFESSOR: …Focus on diversifying its economy beyond oil dependency… PIMPY: Right now…only 89% of [the budget] is dependent on oil sales. A lot better than where it was. PROFESSOR: Improve trade balance…Enhancing exports…Reducing unnecessary imports …thereby supporting a stronger dinar. PIMPY: They have things to trade but not a whole lot of options. PROFESSOR: Maintain internal stability…Monitor inflation rates… PIMPY: Right now Iraq is somewhere around 5%…He’s saying if they want to reinstate the $3.22 rate these things have to be taken care of. I do find it interesting we’ve been listening to them talk about deleting the zeros and he’s put that in here…A lot of this stuff Iraq has already started…Kudos to Al-Sudani.
