Clare

Quote:   “Two phrases…caught the attention of experts: ‘operational continuity’ and ‘risks associated with oil revenue currencies.’ These are phrases typically…related to deep monetary reforms and preparing for potential fluctuations that may accompany opening up to global markets. Specialists interpret this as part of restructuring Iraq’s financial sector infrastructure in line with IMF recommendations, the requirements for joining the World Trade Organization, and gradual integration into the global financial  system   …Economists believe these two steps are not merely technical updates, but rather represent–quite literally—the final two key conditions that the International Monetary Fund, the US Treasury Department, the Bank for International Settlements, and major correspondent banks in New York and London stipulated must be met before Iraq could fully participate in the international foreign exchange market.“   [Post 2 of 3….stay tuned]