MarkZ
[via PDK] “Iraq and the IMF are discussing cooperation and start meetings soon to support a reform program” They would not be having these meetings on Iraq on the world stage unless they were ascending to the WTO and about to have a valuation change. And that is certainly what we are hearing from contractors and government officials inside Iraq. We just don’t know the exact time…but know they are prepared. And they told us via an article...that they are getting ready to peg their currency to a basket of currencies from the region to increase the value of the dinar to compete with the US dollar.
We have articles that say their ascension to the WTO was approved back in Feb of 2023. At this point I believe they are just dotting the i’s and crossing the t’s …. My contracting sources in Iraq say the valuation has been determined …and we are just waiting on the release. I think that is very accurate...
They are calling to no longer have a fixed rate. But, attaching it to a basket so its value can compete with the USD. You know they have been working on de-dollarization. One US dollar buys 1300 dinar right now. For it to compete with the US dollar…the rate needs to be a whole lot closer...I know things have been moving slowly, slowly, slowly… I think we are about to see the “suddenly” part of this thing.
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