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Found 1 result

  1. The MOF will not have enough cash to fund the June salaries.. They will need at least 3 Trillion dinar. One option is to just create more dinar WITHOUT putting any hard currency in the reserves. A partial FLOAT. i.e. A DILUTION. Now they really don't have to create a lot more notes, since many Iraqis are on cards they can just post the amount on the cards and put off the pain for another month. Will that change the exchange rate ? Technically YES BUT they really don't have the reserves to cover the present rate they have been playing that game for a long time just have not admitted it. This will be the real test for the new PM and new finance minister. I wonder if they really knew what they were getting into.. This WILL put an end to the corruption because there is nothing left to steal.
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