Monday Midnight Opinions & BS - CDT - 12/18/2023

[ronscarpa]

REMEMBER, no one really  knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ...  RON 

 

 

Pimpy  Question: "Is Iraq part of any currency basket?"  No...They have not been invited to be part of any currency basket.  Iraq is part of the currency basket that makes up the Arab accounting dinar but that's local, regional...There are no other currency baskets, I mean zero, that Iraq is part of at all.  Nothing in trade.  Nothing in business.  Nothing internationally.  That don't have stable currency.

 

And NOW, for some of Mark's 

 

MarkZ  The rumors are through the roof. From Iraq especially…that they have expectations for the next 48 hours and before the 20th. I do not know if it will happen on the 20th…but I do feel it will happen within the next few weeks. Banking contacts are all looking at the next 36/48 hours…  We really are close...lets see what happens. But everyone stay grounded. You all know it’s inevitable. It’s a “when” and not an “if”...

 

 

[Bob]

Looking ahead to next year, the IECG welcomes further cooperation in support of Iraq's economic and financial sector development, including Prime Minister Sudani's policies to strengthen the dinar and oversee monetary policy.  Clear communication of new dinar policies during the transition period will help avoid adverse effects on Iraqi households and businesses as well as on development cooperation projects and foreign investments in Iraq.

 

UK, France to Co-Chair Iraq Economic Contact Group (IECG)  (Iraq-Business News, 18 December 2023)

[Luigi1]

Pimpy  Question: "Is Iraq part of any currency basket?"  No...They have not been invited to be part of any currency basket.  Iraq is part of the currency basket that makes up the Arab accounting dinar but that's local, regional...There are no other currency baskets, I mean zero, that Iraq is part of at all.  Nothing in trade.  Nothing in business.  Nothing internationally.  That don't have stable currency.

 

 

 

 

I must respectfully disagree with the Pimpy on this one. 

Iraq just signed agreements with Turkey, Egypt, the UAE, Russia & China to trade using each other's currencies. 

That tells me the IQD is both stable & is now internationally traded.   IMHO.