[Can they have a change of currency even with what is happening now in their government?]
YES…It is the CBI and the banks within Iraq that will begin the process of settling foreign remittances (bills) using the value of the IQD, instead of the current letters of credit that are in USD.
Many of these countries are already trading with Iraq in USD.
The change to IQD will be initiated by the CBI…not parliament.
Currently…the IMF, WB have been working hand in hand with the CBI and the banks within Iraq for the sole purpose of Iraq (its banking system) to enter the global economy market.
Once Iraq makes the move to IMF Article 8, then those banks outside of the region…those not familiar with Iraq…will be more likely to do business with them.
As to the value…that is debatable…and not so debatable in the opinion of some…
but, back on September 27, 2011…Shabibi, Saleh and Abadi spoke about the value of the IQD being within reason of the region… compatible.
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