sandyf

  In sandyf

It would be delusional to think that Iraq meets the IMF guidelines for a successful transition. Iraq is in a desperate situation, as was Egypt when the IMF forced the transition as a devaluation mechanism. If Iraq follows the same path it will join Egypt on the list of disorderly transitions with the IQD taking many years to regain the value it has now. Floating the currency is never going to create any meaningful return on the IQD investment.