A Fistful of Dinars: Demystifying Iraq's Dollar Auction
- Author
- Tish Washington
- Published
- Sat 20 Apr 2024
- Episode Link
- https://podcasters.spotify.com/pod/show/tish-washington8/episodes/A-Fistful-of-Dinars-Demystifying-Iraqs-Dollar-Auction-e2ikpgu
A Fistful of Dinars: Demystifying Iraq's Dollar Auction
link to My FX Buddies Blog
The Central Bank of Iraq's (CBI) dollar auction has been a continuous source of controversies and conspiracy theories. The main accusations facing it include: the siphoning of dollars to Iran, money laundering, and currency smuggling.
Missing from this melee is an understanding of the economy's key structural imbalances: mainly that the Iraqi economy is wholly dependent on oil export revenues, and demand for goods and services is met through imports handled by a largely informal private sector.
