The Dutch Disease and Iraq’s Foreign Exchange Rate. By Dr. Zeki Fattah *

Economists who studied the reasons for the low per capita growth of GDP in developing countries that rely on revenues from abundant natural resources, (called ‘resource curse’), found it was actually caused not by high exchange rates, but by wrongly conceived economic policies over a long period of time. We will visit this point again at the end of the paper. Meanwhile, and unt

Read More

Permanent ‘zero interest rate’ for Iraq – A critical review ! By Dr Amer K. Hirmis *

1.              Introduction On May 19, 2020 Alaa al-Deen Ja’far (henceforth A. Ja’far) published an article entitled ‘Choice of zero ‘interest price’ to face the current deflation in Iraq.’ [1] Much of the article’s text comprises extracts from A. Ja'far’s 2011 book, [2] which is not included in the article’s references. The extracts are stated verbatim, with minor cosmetic

Read More

Mudher M. Saleh’s testimony re: the appreciation of Iraqi Dinar in 2006-8, raises serious questions? By Dr Amer K. Hirmis *

1.                Introduction [1] The purpose of this note is to shed light, and comment, on two views expressed recently in relation to the appreciation of the Iraq Dinar (IQD) in 2006-2008.   Muhammad Tawfiq Alawi (henceforth M. Alawi), former minister of communications in Iraq, gave a talk on December 13, 2019 in Washington D.C. to an Iraqi audience, in which he

Read More