Iraqi Dinar Discussion Board

[Sunnybank]

Not exactly what we want to hear. Is it accurate intel? Who knows?

10-26-2014 Intel/Newshound Guru American Contractor The Iraqi government has made a decision to fund the security forces and bypass industry projects for the remainder of the year. The Iraqi government will dip into the Central Bank currency reserves gold assets to fund government projects. The Central bank currency reserves are estimated at 74 billion dollars and 40 trillion Iraqi dinars in circulation. Iraq’s economic growth has been scaled back from the normal 9% growth to a 6.9% for the year 2014. Oil exports have also slowed especially in August with a 2.3 million barrels per day instead of 3 million barrels per day as everyone was expecting. [post 2 of 2] [stay tuned for more American Contractor later today]

10-26-2014 Intel/Newshound Guru American Contractor It appears the Iraq Stock Exchange will be delayed on coming back online on Sunday, October 26. The delay is caused by software issues and the communications between banking institutions and brokers. The International Monetary Fund (IMF) still does not have an Article IV consultation because the Iraqi government failed to complete a 2014 budget. There is a danger of the Iraqi government borrowing from the Central bank reserves increasing inflation and devaluing the Iraqi dinar. The Iraqi government continues to operate their government without knowing how much they are spending and what they are taking in. The budget must be passed as it is still at a standstill. [post 1 of 2....stay tuned

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