Article: “The Central Bank of Syria requires citizens to follow new procedures when exchanging currency” this is not what we want to see Iraq do! Please note Syria is not IMF Article VIII compliant and therefore can have this MCP…However, their currency does not have freedom of movement internationally. This is the same as Iraq however, everything we have been reading suggests Iraq is moving in the direction of “accepting Article VIII obligations”. It just wouldn’t make sense to take a step backward and institute a MCP like Syria will be doing… Also, as opposed to Iraq, Syria expanded its money supply…We know Iraq has been contracting their money supply…Syria plans a 90 day transition…The CBI has told us…new lower notes and fils will coexist in the market place upwards of two years and in the banks at least ten years. It is unimaginable Iraq will not “accept Article VIII obligations” for a period of up to ten years. However, it certainly is possible that Iraq will do something similar albeit unlikely based on all known facts.
