Finance Minister Explains Why the IQD was De-Valued in Dec 2020.

[Luigi1]

Luigi found this article of Dinarian interest...

Iraq Finance Minister explains why the de-value of the IQD was necessary in Dec 2020.

Today, oil now at $100 a barrel.  Will Finance Minister reverse course?

Treat as a rumor.  Not verified.  Your opine.

 

 

Bond Lady's Corner:   The Minister of Finance:  The Decision To De-Value The IQD Was Part Of A Package Of Economic Reforms.

The Minister of Finance confirmed, today, that the decision to de-value, to reduce the value of the Dinar came from a package of reforms.  She said in a statement revealed by Iraq News Agency that "it is sought with all it's institutions to correct the structural distortions in the Iraq economy while the public financial policies lacked, which led to restructuring the ability of financial reform in the country"  She added "Why was the exchange rate devaluation in Dec 2020 necessary?"  "The decision to de-value was taken as a result as the price of a barrel of oil at the time reached $20 Dollars & that caused the economic crisis"

[Luigi1]

here's another article related to the above...

Will Finance Minister reverse course after oil reaches over $100  a barrel?

 

KTFA:  Oil over $100 a barrel, settles down at $99 a barrel at close of trading.  Russia-Ukraine blamed as Russia orders deployment of it's forces in two separate regions in Ukraine.

[utah rock]

Timing is perfect from Iraqi to pull this off at a decent rate with all that’s happening. 
GO RV/RI!!!!

[hspotman]

37 minutes ago, Luigi1 said:

here's another article related to the above...

Will Finance Minister reverse course after oil reaches over $100  a barrel?

 

KTFA:  Oil over $100 a barrel, settles down at $99 a barrel at close of trading.  Russia-Ukraine blamed as Russia orders deployment of it's forces in two separate regions in Ukraine.

Saw on the news last night to be afraid that gas could go as high as $7 per gallon soon.....

[jeepguy]

45 minutes ago, hspotman said:

Saw on the news last night to be afraid that gas could go as high as $7 per gallon soon.....

Was that gas or the dinar revaluation price?

🤔

[hspotman]

16 hours ago, jeepguy said:

Was that gas or the dinar revaluation price?

🤔

😂I wish I saw them talking on our US news about the dinar.   It was definitely gas.  But I also live in CA, so our gas prices skyrocket above most of the country.  Still....$7 a gallon or even around there will keep me at home more.  It's $4.30 here now at Costco...

[chris2028]

SOOO many things going on all over the world right now. This is by far one of the best times for Iraq to do their thing and RI/RV their currency. They could do it and it probably wouldn't even make the news.  They've officially been released from Chapter 7 sanctions and can really get things rolling. It could probably happen at any moment as far as we are concerned. Brace yourselves! 

[hspotman]

Here ya go, from the New York Post. What I was seeing on my tv about gas prices...  https://nypost.com/2022/02/17/gas-prices-could-reach-7-a-gallon-as-russia-ukraine-tensions-escalate/

 

[markb57]

and to think. we were energy independent.....😡

[Luigi1]

here's a reason why the Finance Minister should increase the value of the Dinar...

 

BondLady’s Corner:  Parliamentary Insistence On Restoring The Value Of The Dinar To Its Previous Era & Adjusting The Exchange Rate.

Politician Last update 02/23/2022 | The Information / Baghdad…Parliamentary circles confirmed that there is a tendency to restore the value of the dinar to its previous era after the dollar exchange rate was raised in late 2020, stressing that the rise caused great harm to the people & was a circumvention of the employees’ salaries.

The independent deputy, Basem Khashan, told Al-Maalouma, "The government took its decision to raise the exchange rate without any study, as this is a circumvention of the people and the salaries of the employees, and today, if it wants to restore the situation to its predecessor, it must reduce the exchange rate or compensate the poor and employees who lost The value of their salaries due to the rise in prices.”

[whatsfordinar?]

On 2/21/2022 at 8:51 PM, Luigi1 said:

Luigi found this article of Dinarian interest...

Iraq Finance Minister explains why the de-value of the IQD was necessary in Dec 2020.

Today, oil now at $100 a barrel.  Will Finance Minister reverse course?

Treat as a rumor.  Not verified.  Your opine.

 

 

Bond Lady's Corner:   The Minister of Finance:  The Decision To De-Value The IQD Was Part Of A Package Of Economic Reforms.

The Minister of Finance confirmed, today, that the decision to de-value, to reduce the value of the Dinar came from a package of reforms.  She said in a statement revealed by Iraq News Agency that "it is sought with all it's institutions to correct the structural distortions in the Iraq economy while the public financial policies lacked, which led to restructuring the ability of financial reform in the country"  She added "Why was the exchange rate devaluation in Dec 2020 necessary?"  "The decision to de-value was taken as a result as the price of a barrel of oil at the time reached $20 Dollars & that caused the economic crisis"

That's what she said....🤪