Just Announced New Currency and Lopping Zeros
It has been reported that Iraq’s inflation rate is well over 100% and there is a strong desire from the Iraq Central bank to lower the inflation to a manageable level like the 10-15% very soon. Iraq could take the same step this country has just announced who will be introducing a new currency and lopping a few zeros.
I wonder if Dr. Shabibi reads the Financial Times.
The National Assembly Finance Committee, some directors of the Central Bank of Venezuela (BCV) and the Finance vice-minister believe those days when people deposited VEB 500,000 (USD 233) in their accounts and spent it all in an afternoon to purchase two pairs of shoes should be over.
After reading the above quote from this article I bet the Iraqi's feel the same way.
Comments
You are obviously ill-informed....stick to contracting
Posted by: Mr.F.N. Happy | June 21, 2006 12:23 PM
Did you bother to read the first line of the second paragraph?
Posted by: ghernandez46 | June 21, 2006 1:06 PM
LOL...you are a troublemaker! Do you want to see the good people of IDI and IIF committing suicide!!!
It is very funny though...and possible...although certain people won't want the info out there...ie the dinar dealers!
Posted by: Michwlv | June 21, 2006 11:04 PM
Iraq's inflation rate is around 25%, not over 100%. Like Happy said, stick to contracting.
Posted by: gbarton13 | June 27, 2006 10:17 PM
Iraq inflation rate is well over 100% and they need to get a handle on it before the CBI does something drastic.
Posted by: American Contractor | July 6, 2006 10:10 AM