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Wednesday, June 20, 2018

DAYTRADER: "it is a WTO requirement that a members exchange rate accurately reflect the true value of its currency", 20 JUNE

I believe there have been a number of responses showing sound logic and article support for Iraq to move to a higher exchange rate.  IMO the reason they must is because it is a WTO requirement that a members exchange rate accurately reflect the true value of its currency.  Iraq has been working towards full WTO membership for several years, and looks as though they could be nearing acceptance.  

The WTO will not allow unfair trade practices within its membership, and Iraq's current exchange rate would not accurately reflect its true value.  Also recall Alak "visited" with the IMF while in New York for the Central Bank Governors meeting last year.  ...Alak was joined by an accounting firm believed to have completed an independent third party analysis of Iraq's resources. Their objective was to provide accurate data for the new exchange rate calculations with the IMF.  IMO Iraq will not reinstate at the current exchange rate.

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