In Iraq -business that trade out of Iraq has to do everything in dollars.
Auctions allow for them to buy dollars and then purchase the products from outside of their country.
That is because they are not international and currency is worthless.
Now they have letters of credit like you and me with any bank, so they have more time to pay the debt ie 30 days net, instead of cash when they order.
This does eliminate the dual currencies which the iMF wants them to do and become a member of WTO.
This all means they may have time to pay but they need to pay with their own currency and not the dollar.
Which IMO leads then to RI/RV the dinar, and not much time to do it by the way.
NOBODY IS GOING TO GIVE IRAQ AN LOC IF THEY ARE NOT GOING TO PAY IN DINARS…in our OPINION.
