GOLDILOCKS
The IMF just recently ended their latest consultation with Iraq. They have been given a year-long assessment of their findings and follow-up procedures regarding their new economic reforms enacted earlier this year of 2023.
At this time, they have been given the green light to do the following:
"passthrough from the exchange rate revaluation"
Let's take a closer view as to what this means. "Exchange-rate pass-through (ERPT) is a measure of how responsive international prices are to changes in exchange rates. Formally, exchange-rate pass-through is the elasticity of local-currency import prices with respect to the local-currency price of foreign currency."
Let's put this in more simple terms. Iraq is about to allow the markets to determine their new exchange rates. And, they are about to execute this new declaration beginning the first of January in 2024 in the use of Dinar currency only in the International trade.
Watch the water. 😉
© Goldilocks
https://www.imf.org/en/News/Articles/2023/12/18/pr23462-iraq-imf-staff-concludes-staff-visit
https://en.m.wikipedia.org/wiki/Exchange-rate_pass-through#:~:text=Exchange%2Drate%20pass%2Dthrough%20(,currency%20price%20of%20foreign%20currency.
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