MarkZ
[via PDK] Article: “Iraq pushes to shift away from dollar dependency” they are going to need a currency- one that works internationally and carries a value…. They are telling us…we are just frustrated it’s taken so long. We know their de-dollarization goal is Jan 1st.
The big news is the article and report...from the IMF...where they quite literally say that Iraq has a fantastic year ahead and much of that is due because of the passing of the exchange rate revaluation. The IMF released an actual bulletin discussing how well their meetings went with Iraqi officials…they talk about all the things Iraq did right and what the world is going to be…they even mention that part of what will make their economy so successful in 2024 is the exchange rate revaluation...I asked an Iraqi contact in government/finance his thoughts about if the revaluation they mention was the one in Feb where the dinar went from 1562 to about 1300 dinar per one dollar. …He said NO this is not what they are referencing. …so this is exiting straight from the IMF itself. Now we just need to cross the finish line.
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