duck post from Nenos

Talk about peddling propaganda. Let's assume that the only possible way to have a lop is hyperinflation, which is not true, but I'll grant you that point for the sake of argument.

Iraq has experienced hyper inflation. The proof is the issuance of the NID as described here in another post:

http://www.nenosplace.com/forum/show...3&postcount=90

Ignoring the obvious and historically provable hyperinflation in Iraq does little to help your argument. Please read my post at the link and kindly explain to me how Iraq has not experienced hyperinflation.

I'm anxiously awaiting a legitimate counter response that relies on facts and logic rather than emotion.


ok try this iraq CANNOT lop under the program rate that the imf controlls !
http://www.imf.org/external/np/speeches/2007/031607.htm

High inflation also remains a concern. Annual consumer price inflation reached 66½ percent in January 2007, before dropping sharply to about 37 percent in February. In February, consumer prices actually fell by 7 percent. While the decline is a welcome development, inflation needs to be reduced further. Like the low growth rate, the high inflation rate is explained in large part by the ongoing violence, which is causing widespread shortages of key commodities, especially fuel products, and driving up prices.
http://www.imf.org/external/np/country/notes/iraq.htm
Policies under these programs have sought to achieve macroeconomic stability—including low inflation, a strong dinar, and sustainable government finances—as well as external debt sustainability. They also aimed at rebuilding economic institutions and implementing broader structural reforms to pave the way for strong economic growth. In addition to policy advice and financial support, the Fund has provided substantial technical assistance to improve public financial management, build central bank expertise, introduce a new currency, create an efficient banking system, and upgrade economic statistics.Role of the IMF
Since 2003, the Fund has been closely involved with Iraq through three programs: an Emergency Post-Conflict Assistance program in 2004, followed—in 2005 and 2007—by two precautionary Stand-By Arrangements (SBAs). The second SBA expired on March 18, 2009.
In 2008, oil production rose to 2.3 million barrels per day and real GDP growth rebounded to close to 10 percent, while inflation remained low.
http://www.cbi.iq/index.html
Core Inflation (YOY) Change: 6.1%

as end of Dec. 09
http://www.cbi.iq/images/inflation_chart.jpg