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2021 Budget talks


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Iraq has exhausted its  credit in the normal market the IMF/WB are the only source.  BUT is the IMF going to stand back and allow the CBI to INCREASE the exchange rate and give it away!  For years the IMF has advised the GOI to reduce costs  by eliminating jobs or just plain reduce salaries. The real solution is to cut salaries about 25% or change the pay schedule to 6 weeks . An alternative would be to bump the rate to 1400:1.  But that would be hard for the economy to take in one jump.  

To give a loan the IMF will force the GOI to do one or the other  OR a mix of the two.   But a change is comming.     

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Parlamentary Finance has been given orders by the COM. The rate and oil price are fixed and can't add to the deffiicit .  PLUS they need to  approve 5he the budget by the end of the month OR nobody gets paid.

Also the salaries must be reduced.. If not I expect to see the rate adjusted to 1600 or more in July.

 

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