Jeff

  In Jeff

Iraq’s currency will become internationally recognized when the rate does change. The rate change has to change basically first or at the same time but the rate change is the linchpin…the currency does not become internationally recognized till the rate change so that’s the linchpin.  Once that happens the currency does become internationally recognized. That’s also the linchpin to when Iraq will become Article VIII compliant with the IMF.  Right now Iraq is under Article VIII rules, guidelines and procedures. They have to adhere to them but they don’t become Article VIII till the rate changes.