Francis Albert you should go back and read the documentation or articles on what is stated from the CBI and other sources. They have made it clear that Iraq is primarily a physical currency country. Yes, they are trying to implement electronic money but…the cbi has said over and over there is in excess of 42 trillion dinar (chunky)… because it is in country and in the homes of citizens (under mattresses, pillows etc.) it must be accounted for. You cannot RV anywhere near a 1 to 1 rate with that much physical money in circulation as it would have to be accounted for. Heck, Iraq’s total underground wealth is only 15-16 trillion dollars. You think they could afford 42 trillion? lol If they go to a 1 to 1 rate overnight it will be a LOP. The only other solution is to build a market economy, diversify the resources and gradually raise the value over time. Then then can collect these notes are citizens deposit them in banks as well as reduce pressure created on the financial system as a result of significant foreign investment.
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