Pimpy
Even with Kuwait 90% of their budget is on the sale of oil. Where Iraq gets hurt and Kuwait doesn’t, if the oil prices dropped. That’s what happened at the end of 2019 and 2020. Their [Iraq’s]…economy was going to crash. They had to devalue the currency and it saved them. With Kuwait, that’s not going to happen. Their Wealth Fund is something they can fall back on…Iraq cannot do that… Iraq is going to get there no doubt about it…We want it to go up in increments and keep the same currency we have…
Auctions...are not about dumping the dollar. Currency auctions are held for a reason...They take the US dollar and sell them to banks and exchange for foreign currency. That's how they're able to build up their foreign currency reserves to...$115 billion. Not only that but it helps stabilize the Iraqi dinar exchange rate against other foreign currencies...This isn't about proof they're dumping the dollar...This is not about de-dollarization.
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