In Kaperoni

A LOP is not something that the Central Bank of Iraq can just do… it requires parliamentary approval because it changes the face value of the banknotes. Personally, I do not think a LOP (redenomination) is the plan. There is too much talk about floating the currency and allowing it to at least initially to devalue to save money.  This is not what investors want to hear…But I expect Iraq to follow the IMF directives.  As the IMF said…send a positive message to the investor community and facilitate a favorable business climate.