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Time to Bite the Bullet

 

Posted on 16 October 2014 .

 

If Iraq didn’t face enough challenges already, the slump in the price of crude oil is another unwelcome development for the new Abadi government to deal with.

 

At a current price of $81.78, the benchmark West Texas Intermediate (WTI) crude is down nearly 25 percent from its June high, driven in part by a strong US dollar and weak Chinese demand.

 

This comes at a time when Iraq needs all the funds it can get to bolster its defences and eventually eliminate the existential threat from the Islamic State.

 

As difficult as it will be, Iraq’s parliament must finally agree a budget for this year based on the unpalatable reality that it is now facing.

 

It must also bite the bullet and accept that in order to fund the war for its survival, public sector cuts will be needed in 2015, and that it may have to run a budget deficit.

 

A devaluation of the Iraqi dinar is one possible consequence of a budget deficit,

 

but this would also help the balance of payments and leave Iraq in a more competitive position.

 

Ignoring the budget problem won’t make it go away.

 

 

http://www.iraq-businessnews.com/2014/10/16/time-to-bite-the-bullet/

 

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WOW

 

Dinar Vets censorship,  Amazing  50 % of all News posting are really Op eds, Even Administrators post these but throw the word devaluation in there and it gets moved

 

 

Probably not good for VIP sales, I get it

 

 

OK I'll play along

 

GO RV  GO SHABS

VIVA IRAQ!!


This is not how it is supposed to happen:

http://www.iraq-businessnews.com/2014/10/16/time-to-bite-the-bullet/

 

Grrrr

We put our faith in a third world corrupt Government. 

Heck we don't trust our own government but we trusted these guys.

 

Well at a minimum I have learned alot because of the dinar.

That at least has some value

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It's a BLOG.

It's not official.

 

Don't believe anything til you see it.

If it devalues significantly, hey maybe we buy a little more, it can only go up from there, right?

PLUS, if enough people believe that little blurb there, watch the currency auctions to not have any more takers!

I WILL LAUGH MY ASS OFF IF THAT HAPPENS!!

 

Just sit back and watch.

Nothing is real until you you see it with your own eyes.

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this is the same site that said it rved as an april fools joke haha you decide. Yea lets devaule the dinar even more when its at 1/8th of a penny to the u.s dollar LOL give me a break.

Edited by easyrider
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Time to Bite the Bullet

 

Posted on 16 October 2014 .

 

If Iraq didn’t face enough challenges already, the slump in the price of crude oil is another unwelcome development for the new Abadi government to deal with.

 

At a current price of $81.78, the benchmark West Texas Intermediate (WTI) crude is down nearly 25 percent from its June high, driven in part by a strong US dollar and weak Chinese demand.

 

This comes at a time when Iraq needs all the funds it can get to bolster its defences and eventually eliminate the existential threat from the Islamic State.

 

As difficult as it will be, Iraq’s parliament must finally agree a budget for this year based on the unpalatable reality that it is now facing.

 

It must also bite the bullet and accept that in order to fund the war for its survival, public sector cuts will be needed in 2015, and that it may have to run a budget deficit.

 

A devaluation of the Iraqi dinar is one possible consequence of a budget deficit,

 

but this would also help the balance of payments and leave Iraq in a more competitive position.

 

Ignoring the budget problem won’t make it go away.

 

 

http://www.iraq-businessnews.com/2014/10/16/time-to-bite-the-bullet/

 

 

Iraq is not spending a dime extra on DEFENSE! In case you have not watched the news - other countries are fighting & financing the war! :(

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