It is a fact that Iraq has for years discussed the project to delete the 3 zeros.  It is a fact that ten years ago that Iraq considered the “Turkey model” for their redenomination.  It is a fact that in April 2012 the Iraqi cabinet postponed the redenomination indefinitely. It is a fact that in 2009 an investigative report was published into redenominations.  It is a fact that the 2009 report concluded that a major contributor to a “successful” redenomination was low inflation.  It is a fact that a redenomination introduces a new national currency and that the previous national currency co-exists in-country for a period of time. It would become an ISO historical currency.  It is a fact that ISO historical currencies are not recognized internationally.

It is a fact that the Central Bank of Kuwait did not revalue the KWD following the occupation. The KWD was reinstated at the same value as it was prior to the occupation.  It is a fact that the CBI published a figure for “Currency Issued” of 42.172 Trillion IQD as of 31st March 2018…It is a fact that no country on a floating exchange rate has allowed “rapid” appreciation of the currency. In recent times the greatest appreciation seen was the Yuan at about 3% per year, many said that was rapid. In the eye of the beholder.  It is a fact that I have never said there was no possibility of a positive outcome, Just that it would not be in the way some want to make out.

Judy Byington