Who's Holding Up the Iraqi Dinar Currency Adjustment? (Revalue)

A.  The U.S - Because Iraq keeps holding hands with Iran and introducing legislation that would make it okay to marry a 10-year-old.  (The men do not sleep with the young girl until she becomes of age)

B.  The IMF, because Iraq has not yet checked all the boxes for economic stability outside of the oil industry.

C.  The CBI, because the banking system is not yet in compliance with international banking procedures.

D.  The Iraqi Gov, because they live an expat lifestyle, they earn in U.S. dollars and spend in IQD.

Or E.  The Iraqi People, because they refuse to put their IQD currency into circulation, and no Central Bank can control the currency, if they don’t have access to the currency.

But first, Hurricane Millisa has passed, and the channel is donating to the Red Cross to help the hurricane victims.  

Almost 90% of all the money in Iraq is kept outside of banks. A top advisor to the prime minister said this.

He said people keep most of their cash at home rather than depositing it in banks.

Why does this happen? Because many people don’t trust banks. (rudaw.net)

Also, some worry about paying interest (which may conflict with their religious views). And many simply aren’t used to using banking services.

Because so much money is hidden, banks don’t have enough to use for good things like loans or new businesses.

The advisor says this is bad for the economy — it slows growth and hurts the country’s financial strength.

He recommends some fixes:

• Make people feel safe by showing that bank deposits are insured (so money won’t be lost if a bank fails). (rudaw.net)
• Encourage people to invest in government bonds (so the money enters the formal system).
• Use digital payments and cards to get people used to banking rather than always using cash.

The advisor says we need a big jump in the use of digital banking and cards. That can help end the habit of hiding cash and strengthen the economy.

The government payroll each month, excluding the KRG region, is approximately 3.92 trillion IQD, which is approximately $2.8 billion U.S. dollars.

Now, please understand what I'm explaining.

Government employees are paid in Iraqi Dinars using the digital banking system.  

The PM’s advisor says that employees withdraw their salaries in cash and use it.  So cash still rules.

But here’s the kicker.

In the first half of 2025, Iraq earned about US$43.5 billion in oil revenue, over 6 months.

That averages to about US $7.25 billion per month, on average.

The payroll is around $2.8 billion, but the people are paid in IQD.

The people are paid in IQD.

The oil revenue is in U.S.D.

Who is holding up the IQD currency adjustment?