Iraqi News Press Conference Scheduled for 2/15

[emgee]

http://en.aswataliraq.info/?p=126690

I can't help but wonder if this, along with the recent news of a redenomination could mean anything good for us...

Five-year development plan completed- minister

February 9, 2010 - 08:01:41

BAGHDAD / Aswat al-Iraq: The Iraqi minister of planning said that his ministry has finished its development plan for the years 2010-2014.

[mrs millionaire]

Altough it doesn't refer to discussing the RV directly, I wonder if there will be a discussion or any implication of such. If they want to spend $186,000,000,000 USD within next 5 years, then I don't believe they intend to continue with the current currency value which would mean spending 199,020,000,000,000 IQD This seems very unlikely that they are talking in the trillion IQD figures and that there will be an RV soon to compensate for all of the planning they are doing.

[emgee]

My thoughts exactly, mm!

[JerryC]

Mrs Millionaire....I hope your right

[Mesha]

woohoo, me 2

[kaperoni]

Well...lets look at what they said...186 billion UDS x the current rate 1170 to 1 =217 trillion dinars. Divide that by 5 years and that is 43 trillion dinars. The current budget is 18 trillion dinars. Now one can do the math and see something is not going to work out. They need a RV at least 2 to 1 to make this happen. To confirm this theory, lets do the math...if the rate was 2 to 1, 186 billion USD would be in actuality 93 billion dinars. 93 billion dinars divided by 5 equals 18 billion dollars which is exactly 1000 times less than the current budget at 18 trillion prior to any RV.

[birdlady]

We love you Kaperoni!

[DaisyRN]

Kap PUT the calculator down ...j/k

[jwb]

Kap, I LOVE your calculator :-)

[gman51]

Plus think about this: In order to figure the exchange rate of any country's currency, you first need to know approximately what their GDP is going to be. Maybe this is what they have been waiting for to figure the NID exchange rate.

[Texxas777]

You might be on to something there bud! Thanks kaperoni...appreciate the math work!!!

[mrs millionaire]

I finally found where I fit in most....math geeks UNITE!!!!

[flatrock]

You lost me at the lets do the math part................................ but sounds like you could be on to something.

Cheers

[Aaron]

Or they could just take off 3 zeros like they are proposing, and only spend around 200 billion IQD.

[lynnkit]

Very interesting.

[lynnkit]

Wow that makes my head spin.

[tim5400]

help me out here... are you saying that the rv will come in at 2 dinar to 1 dollar

[kamm]

Or could it be two dollars to one dinar???????

Edited February 11, 2010 by kamm
Wrong word

[emgee]

No, he's just speculating that 2 NID to $1 USD would make sense.

[jody2010]

great observation!

[jody2010]

the math guru...

[magnum]

Thanks for the info folks

[jillann35]

my question is why if the us dollar is no longer used in Iraq... Why Are they allways stating figures in US terms. and not in Dinars???