The IMF, Goi and CBI all have signed a Letter of Intent in which it is stated paragraph #19 that the government “will” move away from the MCPs which are in place because of the auctions.
Remove MCPs, i.e. no auctions, means IQD must have international acceptance.
The IMF stated in November that their expectation was for Iraq to enter the economy market the 1st half of 2016…
Never before in 6 years do I remember the IMF making such a statement.
All of this activity is IMO in support of Iraq’s move into the international currency/commercial markets.
In order for Iraq to survive it’s financial institutions must be able to operate both domestically and internationally…thus all of what we are seeing.
If their intention was to do nothing and continue to live off of the USD…then why bother with all of these changes… why sign agreements with the IMF…why bother telling the world that they are ready for their investments? Why?
Because they are working towards a definitive date to make huge changes in their monetary system.
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