Iraq isn’t poor. It’s an oil superpower. 5th-largest proven reserves on Earth (147 billion barrels). Lowest production costs globally. Still HOLDing $100B in foreign reserves at the CBI. Iraq can’t keep borrowing forever when its real wealth (oil in the ground + reserves) is massive (but trapped). The key to the revaluation is unlocking the wealth. This crisis is the justification for the clean break: IQD revaluation to actual asset-backed levels — not the artificial low rate tied to the old model…
