Article Quote: “Recent agreements between the Central Bank of Iraq and the U.S. Treasury, according to the Iraqi Private Banks League, represent a significant step in banking reform and are anticipated to boost the stability of the Iraqi dinar while increasing Iraqi banks’ access to international financial markets.The precise mechanisms required for a controlled upward revaluation are strengthened dinar stability and increased access to foreign banks. We’re in the prime of reform.While genuine foreign capital inflows are brought in via US-backed access to global clearing railroads (think SWIFT, correspondent banking, tokenized settlement channels), the Central Bank is given breathing room to defend a higher rate without depleting reserves. [First of two posts—stay tuned]
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