7-3-2015 *Kaperoni

[Vixen]

7-3-2015 *Kaperoni ~One thing is for sure, if oil revenues remain low, they cannot afford to liberalize the foreign exchange selling dollars for a continued period, the auctions are getting too big... The end result will be more patchwork and tricks. I know many ask the question..why don't they simply raise the value or begin currency reform as a solution? The answer is simple...Iraq is not ready yet...they need to pass laws, stabilize the environment, bring investment and investors, to create an environment that allows the dinar to rise as a means to offset inflationary pressure created by the transition to a market economy. This all works together, and for the success of the currency, the stage has to be set. As Dr. Bakri said, Article VIII will come after the reform...which puts even more pressure on Iraq to get this done since Article VIII is also very necessary to allow freedom of movement of capital (convertibility worldwide).