Pimpy
Article quote: "Saleh showed in the news that the fixed exchange rate system in Iraq is based on the international reserve base that is the highest in Iraq's history and monetary policy as their foreign currency covers more than 100% of its total currencies issued."
I spoke about this before saying that the more Iraq has in foreign currency reserves the stronger its currency will be. Right now they're at the highest it's ever been.
Are you going to tell me July 18th is coming up Pimpy...They have to change the exchange rate in order to be a member of the World Trade Organization. As I explained before, Iraq has been a member of the World Trade Organization since 2004.
They're just going through to re-qualify. That's it. The World Trade Organization has nothing to do with Iraq's official exchange rate. That has to do with the IMF and the World Bank...Just because they have a meeting on the 18th, that's just for them to go to the next step... The WTO has nothing to do with the exchange rate.
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