Abadi: I will announce next week a new initiative to strengthen the Iraqi economy

[mr.unlikely]

1189 is what the banks sell to the secondary dealers for. They get to add 10 dinars per dollar on top of CBI official rate plus fee. Dealers add their spread and the street rate becomes what it is, lately around 1220-1280.

[DinarThug]

Doubling imports ?

They already import more than 50% of their exports

That would result in a negative current account woukdnt it?

I Think I Remember Reading Somewhere That Giving Their Currency More Value Would Benefit Them With Regards To Buying Imports !

Then Again It Might Of Been A Guru That Was Saying It !

[drj]

I Think I Remember Reading Somewhere That Giving Their Currency More Value Would Benefit Them With Regards To Buying Imports !

Then Again It Might Of Been A Guru That Was Saying It !

:D

 

You are correct, Thug.  Increasing the rate of a country's currency hurts exports and helps imports. 

 

http://www.econedlink.org/lessons/index.php?lid=342&type=student

[dontlop]

Yes I agree that does make sense

Doubling the currency would give them more money to spend if they got the dollars to back it up since they use dollars to import

[staunch]

well we know they definately got the dollars

[MyLadiesDaddy]

Yep It's Him !

I Also Remember Him Having To Take Heat For Merely Sharing What He Had Heard !

Drj Is A Good Dude !

- CNN

But not me, I'm an A-hole simply because I believe in the possibilities of miracles. RIGHT!

Oh, and just for the record, DL is now trying to convince everyone that Abadi, the man

who has worked miracles in Iraq doesn't know the difference between 5 and 500.

AMAZING. And when you consider that in the very same speech he said how

he would use the pressure of words to get politicians to do the right thing, it simply

makes any, REASONABLE, person wonder if this mistake of numbers (made TWICE now)

isn't him trying to PRESSURE someone.

But hey, I'm just a dumb motha trucka, right.

Doubling imports ?

They already import more than 50% of their exports

That would result in a negative current account woukdnt it?

http://www.tradingeconomics.com/iraq/imports

They are right around 50 billion dollars in imports for the last two years

So doubling it would be 100 billion dollars in imports

That's 116 trillion dinar in imports

The whole budget

Something isn't adding up

Can't wait to read more on this

But of course it adds up.

You keep telling us how we can believe EVERYTHING they tell us.

[dontlop]

Obsession

[laksa]

Jan 23 2015 text of speech http://pmo.iq/pme/press2015en/23-1-20154en.htm

While cutting our overall budget, our government has set aside 500 billion dinars – about 440 million dollars – to rebuild the devastation caused

Good find dontlop, this should put the end to the speculation.

On side note, Abadi stumble when reading because he know something wrong with the value..