Saturday night in Baghdad, Iraq’s Minister of Communications, Mustafa Sanad, went on the iNews channel and told the country that the decision has been issued. The currency is changing, and the zeros are coming off…Iraqi ministers do not freelance monetary policy on live television and keep their jobs. A statement like that only survives if the thing behind it is real, and nobody in Baghdad has walked it back. The economists on Iraqi airwaves spent Sunday arguing about how and when to do it, not about whether it exists. The formal announcement, when it comes, belongs to the Central Bank, and that is the piece we wait for…
