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Kaperoni says Iraq needs currency reform now
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Kaperoni says Iraq needs currency reform now
Kaperoni
From CBI: "Decides to re-evaluate these investment shares at the beginning of 2016 in the light of the prices traded by Iraq Stock Exchange,"
Iraq is running out of time.
With oil at $35 and expected to maybe drop to even lower, those reserves will be gone in no time. They need currency reform now and they need to get this market economy going without delay.
That being said, I am hopeful this notice is the beginning of that reform. I am optimistic.
Article quote: "Decides to re-evaluate these investment shares at the beginning of 2016 in the light of the prices traded by Iraq Stock Exchange,"
I talked to a broker a few minutes ago, he stated it sounds like efforts are being made to reprice shares to provide some source of security or stability to the investment community. He said the question is are they pricing in dollar or dinar?
If it is dinar, which is what we expect, we may see some change to the dinar then.
Ponee- Admin
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Re: Kaperoni says Iraq needs currency reform now
Changing the value of the IQD will not bring about any change in income. If you increase the value of the dinar, then each barrel of oil will bring in fewer dinar, the net sum will be zero. While it will take fewer dinar to purchase oh, let's say 1000 M16 rifles, the decrease will be proportional, i.e. the same amount of oil will have to be sold to pay for them.
They can save money by reducing expenses, controlling corruption, and increasing government efficiency, (wow talk about your oxymorons!) but increasing the value of the dinar is not a viable answer to their financial issues.
They can save money by reducing expenses, controlling corruption, and increasing government efficiency, (wow talk about your oxymorons!) but increasing the value of the dinar is not a viable answer to their financial issues.
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Kevind53- Super Moderator
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Re: Kaperoni says Iraq needs currency reform now
Appears to me the reference to re-evaluating shares is directly related to the value of the currency. If the shares are priced in dinar.
Muskie- VIP Member
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