Iraqi Dinar to Devalue? (From a week ago - Anyone see this?)

[k98nights]

Iraqi Dinar to Devalue?

Posted on 14 October 2014.

By John Lee.

One possible consequence of the budgetary crisis facing Iraq is a fall in the value of the Iraqi dinar.

As a result of the massive burden of public sector wages and salaries, in addition to subsidies for food and energy, the country faces major expenses in looking after its nearly 2 million internally displaced persons (IDPs).

It must also find the cash to build up its armed forces to fight the continuing threat from the Islamic State.

The Financial Times reports that economists are concerned about 2015, when Iraq will “almost certainly” run a deficit. Baghdad could borrow against its reserves but at the risk increasing inflation and weakening its currency.

According to Luay Khateeb, founder of the Iraq Energy Institute and a fellow at the Brookings Doha Centre, “the moment they do that the Iraqi dinar will devalue.”

(Source: Financial Times)

http://www.iraq-businessnews.com/category/banking-finance/

[uncirculd]

Well I go back to Shabibi.  He said pump more oil.  So, if they take back their oil fields from the islamic state/isis/daash, then they might be able to do that, not to mention get a grip on the corruption and find out where the money is going and has gone.  Sounds simple to me.

[SocalDinar]

I guess no budget means no deficit.

Maybe start a trend of Bi yearly budgets.

Just kidding

Thanks K98

Edited October 22, 2014 by SocalDinar

[MyLadiesDaddy]

Can't you just feel it?

PRAY FOR REVIVAL EVERYDAY

another day closer

[gregp]

I tried to ignore the word "devalue".

[gymrat76541]

BS

[chinadawg]

Lots of smoke and mis-info.........we must be getting closer to the end.

[staunch]

Amazing!  They have been adding to their reserves year after year.........and now they can't pay the bills??   psshh!

[SnowGlobe7]

maliki took it all

[blueskyline]

They are Not going to Risk a Rise in Inflation ...............

[gymrat76541]

maliki took it all

 

My thoughts exactly! We will read in the news one day that he has fled the country or is wanted!

[SnowGlobe7]

yup...he prob has it all loaded up the the plane..that's why he does not want to give it up!!

[Laid Back]

Something is cooking.!

 

 

 

Can't you just feel it?
 

 

I feel it LGD.

 

Go increase exchange rate.!

[rockfl9]

Can't you just feel it?

PRAY FOR REVIVAL EVERYDAY

another day closer

Yeah, It was crawling up my leg and I killed the sukker.

[kostaske]

The dinar is still toilet paper. It cannot devalue anymore. Except if they make it one ply toilet tissue instead of two ply......

[k98nights]

The dinar is still toilet paper. It cannot devalue anymore. Except if they make it one ply toilet tissue instead of two ply......

Hahaha!!

[RV on my mind]

                                               

[skeetdog]

Thanks k98...This article by Mr. Lee seems to be expressing the frustration of Ashraf Abdelaal in the budget not being approved...In which his point is the main cause of a stall in the economy. There are so many projects waiting on financing that would kick Iraq into overdrive if and when the budget is approve. Until the budget is approved the government can't administer loans to finance anything. 

[MyLadiesDaddy]

The dinar is still toilet paper. It cannot devalue anymore. Except if they make it one ply toilet tissue instead of two ply......

You must wipe your a$$ with silk. I paid thousands of dollars for what you call

Toilet paper.

PRAY FOR REVIVAL EVERYDAY

another day closer

[dontlop]

I guess no budget means no deficit.

Maybe start a trend of Bi yearly budgets.

Just kidding

Thanks K98

No your right

Just change the budget from 170 trillion to 270 trillion but only spend 170 trillion then you get a hundred trillion budget surplus

Total Revenues are a different subject

[rockfl9]

No your right??????

Just change the budget from 170 trillion to 270 trillion but only spend 170 trillion then you get a hundred trillion budget surplus

Total Revenues are a different subject

Yo dontlop. HOW can they develop a balanced budget without estimating total revenues???? That is the problem for 2015.

[dontlop]

Yo dontlop. HOW can they develop a balanced budget without estimating total revenues???? That is the problem for 2015.

You should just go cry about it rockfla

That's all were lacking around here

You crying

[rockfl9]

You should just go cry about it rockfla

That's all were lacking around here

You crying

Dontlop, i need you to look again about your post. It does not make any sense. I said how will Iraq balance the 2015 budget and you reply something about crying???? Rediculus!

[kostaske]

You must wipe your a$$ with silk. I paid thousands of dollars for what you call

Toilet paper.

PRAY FOR REVIVAL EVERYDAY

another day closer

So did I. The fact though remains. Let's hope it will not stay like that for long.

[jobug38]

Can't you just feel it?

LGD I can feel it too! Denial denial denail then BAM!

PRAY FOR REVIVAL EVERYDAY

another day closer