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Established in 2006 as a Community of Reality

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Report warns of Possible Collapse in value of Iraqi Dinar

chouchou
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Report warns of Possible Collapse in value of Iraqi Dinar Empty Report warns of Possible Collapse in value of Iraqi Dinar

Post by chouchou on Sat 17 Oct 2020, 8:27 am

An Iraqi government white paper has warned of a possible collapse in the value of the Iraqi dinar.

According to Farhad Alaaldin, writing for [You must be registered and logged in to see this link.] , the recently-approved [You must be registered and logged in to see this link.] refers on page 37 to the danger of using the Central Bank of Iraq (CBI) as a source of financing, saying that the authors believe it "will lead to severe pressure on the CBI's reserves and the resulting unsustainable future consequences."

He adds that this view was further confirmed by the group of experts writing the White Paper on page 42, who state that:

"Indirect monetary financing by the CBI is the only remaining source... The need for this reserve to finance imports of goods and services means its will drop dangerously to low levels within nine months, which will ultimately lead to a real crisis in value of the Iraqi dinar, accompanied by the possibility of a collapse in its value."


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Proven
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Report warns of Possible Collapse in value of Iraqi Dinar Empty Re: Report warns of Possible Collapse in value of Iraqi Dinar

Post by Proven on Sat 17 Oct 2020, 2:06 pm

Thanks Chouchou.

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weslin3
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Report warns of Possible Collapse in value of Iraqi Dinar Empty Re: Report warns of Possible Collapse in value of Iraqi Dinar

Post by weslin3 on Sun 18 Oct 2020, 12:38 pm

[You must be registered and logged in to see this link.] wrote:Thanks Chouchou.
I use to remember all of this about staying with the 2% IMF rate for 90 days.. That's gone now. Isn't it? So wonder about that? Any thoughts Proven and everyone else?

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Proven
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Report warns of Possible Collapse in value of Iraqi Dinar Empty Re: Report warns of Possible Collapse in value of Iraqi Dinar

Post by Proven on Sun 18 Oct 2020, 7:57 pm

The CBI is in charge of the exchange rate.  2 % is necessary for IMF compliance.  

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