Iraq Refuses a Weaker Dinar
The IQD devaluation story lasted 19 hours. The coalition called the finance minister in. Parliament wants his dollar figure explained.
Tuesday, October 6. On Sunday night one Kurdish outlet told the world that the 2027 budget values $100 at 150,000 IQD. On Monday evening the same outlet published a currency market spokesman saying it will not happen. The two stories ran 19 hours apart.
In between, the people who would have to carry a cheaper IQD through the system started speaking. Baghdad's governing alliance called Finance Minister Faleh al-Sari into its leaders' meeting. Parliament's Finance Committee decided to bring him in this week and ask him about the value of the dollar. And the World Bank sat with that same committee and said Iraq knows where its reforms are going.
Nobody with the power to change the IQD's rate has put a name to 150,000. That is where this story stands 2 days in.
There is a second thing to keep your eyes on today, and it is about timing. Parliament's vote on the empty cabinet chairs is now landing within days of the budget. We will walk through both.
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