By Hernán Robert Hbravo
Thursday November 30, 2023
Ariel: Dice
Iraq Update:
Iraq officially announced that it will end the dollar crisis before the end of 2023. What does this mean?
1. Increase the official exchange rate of the dinar against the US dollar to reduce pressure on foreign exchange reserves?
2. Policy changes to encourage the use of the dinar instead of the dollar in domestic trade and transactions to alleviate pressure on dollar demand?
3. Removal of shifting restrictions and caps that have created imbalances and a black market?
4. Reopen currency auctions that provide access to dollar reserves to stabilize exchange rates?
5. New measures to control inflation and monetary speculation amid economic uncertainty?
6. Efforts to back more domestic bank balances and liabilities with reserves as collateral? It could be all of the above. Because? Because they also announced that they will resolve the HCL next week. Which implies that they have a new exchange rate ready for international markets. Can we see a refund before JANUARY 1, 2024.
Of course, since the implementation of the LHC requires them to disburse equitable payments between the regions and they must know what is the new value stipulated by constitutional law for citizens in general. Which is also part of the agreement between the United States and Iraq according to which the United States must withdraw all its troops earlier.
That's probably why Iraq announced the closure of American embassies. We are on the brink of a once-in-a-lifetime opportunity that will never happen again. So if you have IQD, consider yourself lucky.
Ariel
TRANSLATION IN SPANISH:
De Hernán Robert Hbravo
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