According to the latest CBI financial statement (2016) there is over 45 trillion IQD in circulation, it should be noted that went up from 38 trillion in 2015, so anyone who claims the banknote count is decreasing should do some more homework.
At around $4 that would value IQD in circulation at around 180 Trillion USD. If we were to assume that in the event of an RV that 50% was to be immediately redeemed then Iraq would be faced with a bill of around 90 trillion USD.
You cannot redeem currency with oil in the ground so it is just not possible for any RV of the IQD without some financial backing from an outside entity. The answers lie with WHO is calling the shots. It has been stated many times over the years that the US holds a large amount of IQD and will benefit from the RV. How can that be the case if the US, as been said by some, were to fund the RV. Think about it.