Pimpy
Article: "IMF expresses optimism about non-oil financial growth in Iraq" This is a major must for Iraq. They need... non-oil financial growth...They can't get to this fast enough. They can't get this to grow quick enough. The fact they rely so much on oil is going to hurt them instead of benefit them...If oil prices fall, they're back to square one and they'll start devaluing the Iraqi dinar if they can't find alternative to generate revenue for the state.
I get it there are people out there telling you it's going to happen overnight because they have an electric payment system. No, no they're not going to change your exchange rate just because of the electronic payment system. The electronic payment system will help influence it once it's up and fully implemented but it has nothing to do with being reinstated. It'll keep increasing in increments just like I said...
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.
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