Kaperoni  Post 2 of 3

Whether or not a country’s currency is exchangeable is whether or not there are restrictions on that country (which no longer exist [for Iraq]).  Many banks though are hesitant as long as the CBI is in Article XIV.  IMF Article VIII in essence is a stamp of approval from the IMF that the banking system in Iraq is in compliance with other central banks worldwide.  [Post 2 of 3….stay tuned]