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The real MntGoat’s latest post mentions Iraq’s efforts to “ascend” to WTO membership. (What pomposity! “You may ascend into our organization once we deem you worthy.”) She offers:
… [D]oes Iraq need a currency to join the WTO? Technically they do not and that is a FACT, however I am told they will in this case and they plan to turn the currency on at that time. I suspect they will probably wait until just around Jan 2022. But this is just my guess for now.
WTO membership would be a great boon for the Iraqi economy, opening doors to international trade that could help Iraq transition from an economy dependent on oil, imports, and gifts toward one that produces things that other people desire to buy. I think MntGoat is spot-on regarding the intention to “turn on” the currency when WTO membership is granted. While not strictly necessary for the WTO, “owning” their currency would be a point of pride for Iraq when taking this highly-visible step on the international stage — embarrassing if they didn’t have their own currency, and a real statement if they did. WTO membership could be the tipping point for the dinar’s re-instatement.
Sovereign integrity and Iraqi “homeland” security have always been regarded as key elements to a potential dinar re-instatement. The sovereignty/security situation in Iraq is as poor as ever. Iranian proxies continue to pepper the country with rocket and mortar fire, concentrating on sensitive targets like US military and Baghdad’s business and diplomatic centers. The PMF practically runs a shadow-government which the Iraqi government seems powerless to diminish or uninterested in addressing. ISIS is re-ascendant, conducting raids, killing and kidnapping citizens, and blowing things up — the Coalition’s “advisors” better get moving on all that “training” they’re supposed to do (except they have been “training” the ISF for years already!) Turkey runs military operations in Iraqi territory with impunity. Iran’s influence seems to grow daily, from restricting Iraq’s access to water and electricity to promoting sectarianism at every level of Iraqi politics and law enforcement.
Could anything good for Iraq come of re-instating the dinar while the country is in such chaos?