MP: GOVERNMENT AGREEMENT TO RAISE THE DOLLAR EXCHANGE RATE TO 180,000 DINARS
(Mnt Goat: Of course this is insane thinking! 
If you have been listening to the news for the last year you could clearly see that these Iranians in Iraq want to destroy all that has been done to bring about the economic revival for Iraq. There has been many articles about devaluing the dinar to solve all their financial issues. This is just another example but this one is so bizarre. Such a high rate (a massive devaluation) is contrary to the work of the CBI. It would favor the dollar and the money exchangers selling dollars, something the CBI needs to break. My final thought about such a devaluation is that to even suggest it tells a story in itself where the Iranian backed Coordination Framework is coming from as far as leading the way to the destruction of Iraq.)
MP Majid Al-Shankali stated that the Iraqi government has no real options to address the financial crisis other than raising the dollar exchange rate or reducing employee salaries, noting that there is an agreement among state leaders to adjust the exchange rate to reach about 180 dinars per dollar .
Al-Shankali said in a televised interview followed by Al-Sa’a Network that “raising the price of the dollar has become an almost inevitable option, and the state has only two solutions: either reducing salaries, which is something the government cannot do, or raising the value of the dollar against the dinar .”
He explained that “the number of employees and those who receive salaries or government grants amounts to about 7 million people, and with their families included, they represent more than 40% of the Iraqi population,” noting that “any tampering with salaries will lead to a social shock affecting nearly half of Iraqi society .”
He explained that “Iraq has about 4 million government employees, in addition to retirees, social welfare beneficiaries, and the Martyrs Foundation, and the cost of salaries, compensations, and grants amounts to about 8 trillion dinars per month,” noting that “annual spending on these obligations exceeds 100 trillion dinars .”
He added that “the solution available to the government is to raise the exchange rate of the dollar against the dinar, which would allow for achieving financial balance and providing the necessary liquidity to pay salaries,” considering that “the real price of the dollar, according to the financial assessment, should currently range between 160 and 170 dinars .”
He pointed out that “an agreement was reached between important leaders in the country to keep the exchange rate within a range of 160, 170, and perhaps 180 dinars per dollar .”
Al-Shankali criticized the “decision to restore the exchange rate to 1,300 dinars,” stressing that “Iraq lost between 30 and 40 trillion dinars during the three years of Mohammed Shia Al-Sudani’s government, which is equivalent to the expenses of salaries and compensations for five months .”
He added that “current oil revenues, even with prices close to $70 a barrel, do not cover annual expenses,” explaining that “total annual oil revenues are estimated at about $70 billion, which is equivalent to about 91 trillion dinars, and is less than the size of the state’s annual obligations .”
He pointed out that “non-oil revenues have not witnessed any real increase, at a time when Iraq is already suffering from a clear financial deficit, which makes raising the exchange rate a strong option in the next stage.
(What next stage? Do they mean stage with a corrupt prime minister that does not listen to the CBI? We know that al-Sudani will not go a long with a devaluation and leaves these matters to the CBI. )