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 G-Lin for 9/15/17

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PostSubject: G-Lin for 9/15/17   Fri Sep 15, 2017 10:54 pm

Article:  "For economic reforms and upgrading of banking institutions"   IN A NUTSHELL, WHAT THEY ARE SAYING IS:  For more than four years, officials in Iraq talk about a project for monetary reform through which the exchange rate of the Iraqi currency against the dollar so that the new dinar is equal to 1.2 dinars to the dollar instead of 1,200.  But the move was postponed until a later time because of the exit of some areas of Iraq from the control of the government after the occupation «urged» them. Military operations began to recover these areas, which still exist. The Government is expected to return to the same project after the end of military operations.   



Therefore, it is not possible to cancel the "dollarization" of the Iraqi economy by administrative decision or by administrative orders from the monetary authority, but the phenomenon will gradually disappear because of the reasons that led to it, ie after the monetary reform referred to above, because the dinar will then become an easy mode of trading and a store of value that avoids using the dollar.  Raise the value through monetary reform to 1.2 and the hoarding will disappear. 

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