Nader From The Mid East
Article quote: "The governor of the Central Bank, Al-Alaq failed to control the rise in the dollar exchange rate."
Don't panic. Alaq has nothing to do with what's going on. He's not doing a very good job. He's a very good guy, hard worker, doing whatever he can but I think this job is too big for him to handle...
I would not be surprised if he got fired. I would not be sad either...He can not handle the job. He should do something else...He's not good at controlling things. He can't control the CBI. It's too big for him...I'm not saying they're going to fire him, maybe not. Maybe he's going to get his shit together and do a better job but don't panic. This has nothing to do with what's going on.
yada
Review from the articles... The PM announced the banks are now able to exchange foreign in country last week. The digital connections have been activated to collect the tariffs and taxes from all border crossings Monday last week. Their stock mark showed a 3000 point drop in dinars this past Sunday. To me, the dollar to dinar value is adjusting to the actual reissued value of the dinar. 10 days or so, 12 countries did currency swaps with Iraq.
Contracts that were previously agreed upon are being signed from countries coming into Iraq to do business. TOTAL being one of the largest and along with the infrastructure contracts. All this requiring a new REISSUED rate. IMO, they've gone a far as they can go without not changing the rate...
...we are witnessing the process playing out before us. It means the checks and balance were put in place by the stopping of the launding the dollar causing the decline of the use of the dollar in country. The seed was placed in the ground with all the regulations and the growth started and now, it is braking the surface such we will benefit from it...Articles have revealed it will not be in vain and the change over is taking place...NOW!
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