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Guru Paulette 1/9/23
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Guru Paulette 1/9/23
by Ssmith Mon Jan 09, 2023 2:12 pm
Many try to compare Vietnam and Iraq when evaluating the currency. Most of these comparisons are flawed: “…Vietnam has a very low rate and their economy is one of the fastest growing…”
This is a totally irrelevant comparison. The rate is not the issue. The issue is IMF Article 8 Compliance. This allows Freedom of Movement of capital in and out of the country.
Vietnam has been officially acknowledged to be Article 8 compliant, Iraq has not. Additionally, the CBI has clearly stated their intent to implement the “Delete the Zeros” project. Vietnam has not made any such claims. Bottom line, comparing Iraq and Vietnam due to their low currency value is like comparing Apples to Oranges…
This is a totally irrelevant comparison. The rate is not the issue. The issue is IMF Article 8 Compliance. This allows Freedom of Movement of capital in and out of the country.
Vietnam has been officially acknowledged to be Article 8 compliant, Iraq has not. Additionally, the CBI has clearly stated their intent to implement the “Delete the Zeros” project. Vietnam has not made any such claims. Bottom line, comparing Iraq and Vietnam due to their low currency value is like comparing Apples to Oranges…
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