Iraq Dinar Speculation

World Bank to help Iraqi Economy

Editors note: This Iraqi news contains one of the recurring themes, which is a central desire to make Iraq more suitable and attractive for investing.

Baghdad: General secretary of the Iraqi cabinet, Ali al-Allaq, received representatives of the World Bank, which included VP of the Middle East and North Africa Region and the executive director for Iraq.

Quoted:

“The bank’s strategy mainly aims to enable Iraq to manage its resources more effectively… The World Bank will help the Iraqi government create a favorable climate for construction and a potential ground for investment…”

Sources: Radio Nawa, Aswat al-Iraq

Falling oil revenues, presumably from the falling price of oil, has spurred the central bank of Iraq to decrease it’s base interest rate from 11% to 9%.

This decrease is able to happen, in part, due to the inflation rate decreasing in Iraq. As stated by Mudher Mohammed Salih, the Iraq interest rates could call again – Salih is expecting rates to be around 5% in January 2010.

Source: lse.co.uk

Editors comment: With the incredibly stable Dinar value, an inflation rate that is going in a positive direction, and now interest rates falling to extremely attractive levels – what do you think this will do to the situation in Iraq? It’s looking good, we think!