IRAQ closing down due to Corona

[GregHi]

13 minutes ago, tigergorzow said:

PITCHER Agree, However please don't forget about the Barzani's & Talabani's who have "Billions" and stolen all the oil wealth from the Kurdistan citizens.   All of them need to be brought to justice and HANGED IMO. 

 

GO JUSTICE 

 

GO IRAQI CITIZENS 

 

GO PM Allawi

Yep, even my Kurdish friend used to say they were all corrupt, including the Barzanis who he had actually met once.. All of Iraq is corrupt, it will take a miracle. Hopefully we will see that miracle soon.

[KristiD]

11 hours ago, 6ly410 said:

A member of the Kurdistan Democratic Party warns of economic collapse

 

I think economic collapse is a bit over dramatic because it would likely take some time to get to that point.  Although sadly, Iraq has other serious problems in addition to low oil prices.  Allawi probably will be out today and again they are at square 1 trying to find a new PM to start to put together a new government.  And who knows how bad coronavirus will get.  But with respect to oil, personally, I think prices will continue to fall along with demand and, in my opinion, may actual level out around $25.  Trump has said that's where he wants it to be (or at least below $40).  Also, last year Russia announced that it's considering a $25 price in its future projections.  I think it's likely oil will settle well below the $58/barrel that Iraq needs to fund their government and services.  So while I don't think Iraq is facing an imminent collapse, I think they deffinately need to make other plans to account for the likely permanent loss in oil revenue.   Perhap's Breitling's theory is true that low oil prices will push Iraq to RV quickly because it's the fastest and easiest way to give them more spending power and stop the hemorrhaging.  Furthermore, I also think both sides of Iraq's internal batte (the pro-Iranians and the protestors who want improved living conditions along with Iran out of Iraq) surely must both want the RV.  It would give the Iranians some desperately needed purchasing power and it would do the same for the protestors who will immediately be able to afford more.  I think that would actually placate the protestors a lot actually.  And while it's not ideal for Iraq to be pushed into something this big from an urgency standpoint, I do believe Iraq has been planning and preparing to do this RV for years, and it appears that they are pretty close to being ready.  I think most of us here think that.  So hopefully Iraq can get their ducks all lined up in a nice enough row that they can successfuly pull off the RV.  I think the only real question is, as always, can Iraq can get their act together enough to just do it.  

[coorslite21]

22 minutes ago, KristiD said:

 

I think economic collapse is a bit over dramatic because it would likely take some time to get to that point.  Although sadly, Iraq has other serious problems in addition to low oil prices.  Allawi probably will be out today and again they are at square 1 trying to find a new PM to start to put together a new government.  And who knows how bad coronavirus will get.  But with respect to oil, personally, I think prices will continue to fall along with demand and, in my opinion, may actual level out around $25.  Trump has said that's where he wants it to be (or at least below $40).  Also, last year Russia announced that it's considering a $25 price in its future projections.  I think it's likely oil will settle well below the $58/barrel that Iraq needs to fund their government and services.  So while I don't think Iraq is facing an imminent collapse, I think they deffinately need to make other plans to account for the likely permanent loss in oil revenue.   Perhap's Breitling's theory is true that low oil prices will push Iraq to RV quickly because it's the fastest and easiest way to give them more spending power and stop the hemorrhaging.  Furthermore, I also think both sides of Iraq's internal batte (the pro-Iranians and the protestors who want improved living conditions along with Iran out of Iraq) surely must both want the RV.  It would give the Iranians some desperately needed purchasing power and it would do the same for the protestors who will immediately be able to afford more.  I think that would actually placate the protestors a lot actually.  And while it's not ideal for Iraq to be pushed into something this big from an urgency standpoint, I do believe Iraq has been planning and preparing to do this RV for years, and it appears that they are pretty close to being ready.  I think most of us here think that.  So hopefully Iraq can get their ducks all lined up in a nice enough row that they can successfuly pull off the RV.  I think the only real question is, as always, can Iraq can get their act together enough to just do it.  

Always excellent analysis!

CL

[aitshioud]

iraq was told imf report after imf report to reduce demand on oil and diversify their economy. Iraq is a good example of how bad things have to get before politicians will do anything for their people. Even when there was a million people storming the green zone they still wanted to only think of themselves. IMF may have to step in a RV their currency for them. Either way, what a wait.