Kaperoni

…This [auction] action by the CBI will not only help the citizens but it will help them with the IMF to meet compliance. Further liberalization also helps encourage investment in Iraq .  The real reason why they’re doing it though is to try to get the exchange rate back in line with the 2% spread limits the IMF has imposed. The current exchange rate in the market is around 1490 which is on the cusp of exceeding that limit making them out of compliance.