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Friday, June 2, 2017

Kaperoni "Is it Better for Iraq to Rebuild Itself?", 2 JUNE

Is it better for Iraq to rebuild itself at the present rate or at a re- established rate?]   ...at this point and time, it does not matter what the exchange rate is regarding rebuilding...since the primary source of revenue is oil sales (95%) which is paid in dollars.  And since the dinar is not globally convertible, Iraq pays for goods in dollars.  So in that sense they are on the same playing field we are on in the US when we pay for goods.   The real benefit comes when the CBI can begin to raise the value to offset inflationary pressure created by investors and investment along with meeting  IMF Article VIII compliance.  The result will eventually give the citizens a better life, greater purchasing power and most importantly the ability for the CBI to keep its dollars and pay in dinars. 

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