Monday, January 04, 2021

Editorial: Iraq and the Dinar

 Amnesty's Donatella Rovera Tweeted:

The recent devaluation of #Iraq's currency against the $ has pushed up prices of #food & other essentials - just as people's earnings have plummeted due to the #Covid19-induced economic crisis. An increase in #bread price would be disastrous for many.

Things are about to get a lot worse for the Iraqi people.  C.I. noted, " Hatem Hussein (ALMADA) reported that economist state this move will increase the percent of Iraqis living in poverty to 60% of the population."

The dinar did not have to be devalued and Iraq did not have to go into debt or accept the dictates from the IMF and World Bank.  Before they started borrowing money, Grand Ayatollah Ali al-Sistani had warned of just this but they didn't want to listen.  Who? The corrupt thieves in the government who ensured that Iraq would have to borrow money by stealing from the public coffers.


Creative Commons License
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 Unported License.
Poll1 { display:none; }