Why They Want the IQD Cut Reversed
A bloc tied to Kataib Hezbollah asks Iraq's top court to reverse the cut to 1,500. Why Baghdad made the cut, and why we expect the challenge to fail.
Tuesday, October 13. Yesterday we showed you Baghdad closing the exits on hidden cash, in Baghdad Is Hiding the Date. The state was doing the squeezing.
Today the people being squeezed are fighting back. The rate of 1,500 is 6 days old. A bloc in parliament tied to an armed faction has gone to Iraq's highest court to have the cut reversed. Lawmakers are putting a price on their votes for the budget that carries the number. And on Monday the street moved further away from the official rate, not closer.
On the surface this is a fight for a stronger IQD, and nobody in Iraq is asking for a weaker one.
That is today's briefing: who is fighting the cut, and why we expect the challenge to fail.
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