Originally Posted by
Caviar Dreams
First, I believe/hope that there will be a decent revalue (1 dinar=.32 USD). However, I am starting to have a few concerns. We keep anticipating a reval based on debt relief (and other factors obviously), but what if all this debt relief and grants actually hinders a reval?
If all these countries write off Iraq's debt, and billion's of dollars are awarded in grants, why would they need to revalue. If Iraq accepts these grants, debt relief, and then revalues at a high rate, wouldn't that possibly be double dipping the worlds financial pocket book? How well will this sit with other countries? Is this politically correct, and has it been done before?
This brings us back to Iraq possibly stabilizing at a rate of 1000:1 and then revaling very slowly over the next couple years...thoughts?