While Iraq appears to be on the way to a full RI, I believe there will be an interim step very soon. If they make the move I anticipate the MCP will be quickly eliminated and they can proceed to a full RI. A RI is full Article 8 compliance and a return to the rate that reflects the True Value. In 2009, the MOP/MOF stated move to 1.14-1.17USD/IQD and monitor for inflation up to 3 years and then move the rate to reflect the True Value of 3.208USD/IQD. This was the plan of Dr S and it appears they are back on track following that plan.
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