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[size=33]Mohammed Allawi: Iraqi dinar could collapse within two years[/size]
10/21/2015 8:41
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Baghdad - INA / MP and former minister Mohammed Allawi, on Wednesday, the possession of the Central Bank of Milarat dinars has not pumped into the local markets, while stressing the need to develop economic solutions to the crisis out of the current crisis, warned of the collapse of the Iraqi dinar in two years.
Allawi said In a comment posted on his page on the social networking site (Facebook) that "the problem is not liquidity, central bank has billions of dinars printed and that have not inflicted to the market, and could have inflicted whenever he wants, but he can prints new dinars and inflicted to the market."
He pointed out "The sole determinant in the available cash in the street is critical cover from the reserve to the dollar," pointing out that "in 2013 the reserve was more than 230% of the cash mass Dinars, which is a high percentage, but due to lack of reserve that percentage dropped to about 170%, which is also high but if the situation continues as it is now will reach to 100% under this rate we will enter in the caution zone.
"said Allawi, a former Minister of Communications, that" if it reaches the cap of 60%, we will enter in the danger area ratio and hence the risk, where if we do not provide then the collapse of the dinar solutions where we can reach a point where the central bank is unable to provide the dinar against the dollar and we could get to this point with certainty within a period not exceeding two years. "
[You must be registered and logged in to see this link.]
Don't anyone panic we are still in the 170% zone.
Thanks
LIT
10/21/2015 8:41
[You must be registered and logged in to see this image.]
Baghdad - INA / MP and former minister Mohammed Allawi, on Wednesday, the possession of the Central Bank of Milarat dinars has not pumped into the local markets, while stressing the need to develop economic solutions to the crisis out of the current crisis, warned of the collapse of the Iraqi dinar in two years.
Allawi said In a comment posted on his page on the social networking site (Facebook) that "the problem is not liquidity, central bank has billions of dinars printed and that have not inflicted to the market, and could have inflicted whenever he wants, but he can prints new dinars and inflicted to the market."
He pointed out "The sole determinant in the available cash in the street is critical cover from the reserve to the dollar," pointing out that "in 2013 the reserve was more than 230% of the cash mass Dinars, which is a high percentage, but due to lack of reserve that percentage dropped to about 170%, which is also high but if the situation continues as it is now will reach to 100% under this rate we will enter in the caution zone.
"said Allawi, a former Minister of Communications, that" if it reaches the cap of 60%, we will enter in the danger area ratio and hence the risk, where if we do not provide then the collapse of the dinar solutions where we can reach a point where the central bank is unable to provide the dinar against the dollar and we could get to this point with certainty within a period not exceeding two years. "
[You must be registered and logged in to see this link.]
Don't anyone panic we are still in the 170% zone.
Thanks
LIT
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