Iraq needs to complete the government and parliament needs to pass the laws before it can open up to investors/investment. Nobody coming otherwise. [Can all of that be done in a short time?] Sure, if they decide to do it. But they have shown they are lazy and don’t want to accomplish much. Time will tell…and pressure is on them to open the economy.
Substantial investment will cause pressure on the CBI. This is why the CBI needs a tool to counter such. That tool is the a liberal exchange rate regime (float) to allow the gradual appreciation of the currency to offset such pressure. Look at the bigger picture…Iraq needs investors/investment …billions of dollars to rebuild, create a market economy. That will create economic pressure and the solution to that is to raise the value.