Militia Man
Article quote: "The fixed exchange rate system in Iraq is based on an international reserves base is the highest in the history of Iraq..
.Foreign currency covers more than 100% of the total currency issued." Even the trillions, they have enough reserves to do that. In other words if they change the exchange rate to something that's strong, that reflects the true fundamentals of the country, they shouldn't have any problem. Their model is stable, secure...very little inflation. They've been successful doing this model...
The electronic age is going to allow them to....spend the money efficiently. And for what? The operational side of the budget and the investment side. That's one of the key things Sudani was waiting to be able to pay for. He said he launched this program and they said they got started in implementation phase as of the 1st of July. The investment portion of it has my concern because I think that's where we're going to be looking for the real effective exchange rate.
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