Important comments from my Kurdish friend ( you can treat all as rumor and please due your own sound diligence ). 2016 is a make it or break it year for Abadi’s survival.
In particular the 1st half and progress in the war against ISIS is job número uno. Monetary reserves have evaporated and the IMF is now at the helm of monetary policies to be executed in exchange of the bailout Iraq is receiving from them.
Parliament and CBI have agreed to implement whatever reforms the IMF requests. Inside word is that the IMF too has at its highest priority the transformation measures of Iraq into a diversified market driven economy and so the next few months will be very telling of investment policies and mechanisms that will be established.
If these moves prove results then the IMF will help Iraq orchestrate the long awaited “deletion of the zeros” (or) LOP.
The IMF has made it clear during these talks that the LOP and dramatically reducing the money supply is the ONLY way forward for them to have a real and stable monetary program.
Again as my amigo stated before it is still on the table that Only notes inside Iraq will then be allowed to exchange for the newer notes.
This process is still scheduled for the second half of 2016 to start BUT progress on ISIS and IMF imposed conditions are prerequisites.