Revaluation of Iraqi Dinar is the Center of Latest Iraq News 2/29/2016
Revaluation of Iraqi Dinar is the Center of Latest Iraq News
2/29/2016 0 Comments
The infrastructure of Iraq is badly affected by the invasion of US armed forces in 2003. Everything was destroyed because of surgical attacks made by US Army and its alliance. Since then the country is the center of sad news. We hear bad news of killing and bomb blast on almost every day. Moreover the ISISI has become one of the worst terrorist organizations operating in Iraq against the government. Iraq is facing heavy losses because of these attacks on the government machinery and they are therefore the center of latest Iraq news.
Current Economic Conditions
Along with all those critical situations in the country the economic condition of Iraq is improving with the every passing day. Some massive investments have been seen for the last 6 years in the country. The Iraq is now free from international sanctions imposed by United Nation. After free from chapter 7 sanctions 7, Iraq has authority to do any kind of business with the any other country. Oil is the backbone of Iraq economy. Now the country is free to sign any contract with the any other country to search or export their crude oil anywhere in the world. Large number of oil exploring companies is operating in the country in the different areas to find the new oil fields.
Special Authorities to Governor to Sign any Contract
There was a time when making investment in Iraq was more than a tough job. You had to fulfill too many requirements and legal formalities to open a new business in the country. But now the situation is completely different. The government of Iraq has given special authorities to the governor of the province to sign any oil and other business contracts without prior permission of the government. All of these soft conditions are to ensure the foreign investment in the country. These special authorities have attracted many of the international investors to the country to make heavy investments in different sectors of the country. The cottage industry of Iraq is also improving with the heavy investments in the domestic industry of Iraq. This is one of the biggest point and addition in the latest Iraq news that cottage industry of the country is also improving very fast.
Revaluation of Iraqi Dinar
People have made heavy investments in the Iraqi dinar with the expectations that it will be revalued in the near future and they will be billionaire. The investors in Iraqi dinar include not only common people but the retired army officers of Iraq war. They believe that Iraqi dinar will be revalued in the next few years and they will earn more than anyone else in the world. The best example of Iraqi dinar revaluation is the Kuwaiti Dinar revaluation that occurred in 1990 and people who invested in the Kuwaiti dinar became billionaire over night. Many of the international banks are also interested in Iraqi dinar purchase and they are the big investors of Iraqi dinar as well. The Noor Al Maliki administration was major hurdle in the revaluation of Iraqi dinar because of dispute with Kurdistan.
Kurdistan has major role in the revaluation of Iraqi dinar and its resolution to pass. The supreme leader of Iraq has taken action against Noor Al Maliki and the government was dissolved. Now new administration is now in the power and they are taking initial steps to complete revaluation process. This can be very big and latest Iraq news. People are waiting for the completion of this procedure for revaluation of Iraqi dinar in next few months. The dinar gurus believe that revaluation of Iraqi dinar will surely occur at the end of 2016. We must have to wait if we have some dinar to be billionaire in the next few months.