Iraqi Dinar 123

The security situation in Mosul, Tirkit and Kirkuk is poor and considered as major reason of economic collapse. The militants are occupying most of the major cities of Iraq. The prices of dollar and other major foreign currencies are rising against Iraqi dinar with the every passing day. Iraq can never make progress without controlling the law and order situation of Iraq.

The political and law and order situation of Iraq is worst in Iraq ever than before. Mosul, Tirkit and Kirkuk are under the control of Islamic militants ISIS. The policemen, soldiers and other government officials are running from these cities in the civil dress.

Iraq is the second largest oil producer of the world with the 3.25 million barrels per day. Saudi Arabia with the 6.6 million barrel oil is at the top of the list. For the numbers of years Iran is in the quest of the position of Iraq in the international market. As far as my opinion is concern, the Iran is little late now.

After taking economy bank of Iraq under the trusteeship, the central bank of Iraq warned its citizens to deal with Basra International Bank. Due to failure of many financial obligations, the central bank of Iraq decided to take Basra International Bank under the trusteeship. Therefore all the financial operations are suspended until the things gets normal.

The inflation rate in Iraq increased in the month of May 2104 according to ministry of planning. The ministry of planning criticized the ministry of food for not taking appropriate measures to control the situation as it was prevailing because rise in the inflation is due to rise in the cost of food items in Iraq.

A rise in US dollar is seen in the international market against other major currencies of the world. the reason behind is the betterment in the economy in the last couple of months. US dollar went down in the market couple of months ago due to its war policies.

The new government is going to take its responsibilities by the mid of this month means before 15th of June. The priority of Noor Al Maliki administration is to increase the value of Iraqi dinar in the international market. Now it is time to play as the ground is ready and the stage is set for them.

The gold prices in Asia rose after the rebel attack on the two major cities of Iraq. The rebels got the control of these major cities and started attack on the security forces. These major cities are rich in the oil production therefore it is considered as a big loss for Iraq and its economy.

The economic bank of Iraq could not fulfill the financial obligations with the other international and local companies the minimized the trust of the people and international companies over banking sector of Iraq. Central bank of Iraq received many of the complaints against economy bank of Iraq.

The World Bank survey report shows that the per capita income of Iraq people is rising with the every single passing day and therefore they are looking for new products that don't assist in the domestic market of Iraq. The different companies received several request to provide specific products that don't assist in the Iraq market and therefore they are looking to import such products from international market to fulfill the demand of the people.

The Mnt Goat is of the view that after first parliament session 15th June 2014 the final decision will be taken. The parliament will vote for prime minister of Iraq in this session. The selection of prime minister of Iraq will make it possible for central bank of Iraq to take final attempt.

Hub is fully confident about timing and says that worthless papers of Iraq are going to become gold coins in the next few days. Everything in the favor of revaluation of Iraqi dinar and it can happen at any time in the country. The new government is seating in next few days and first priority of Noor Al Maliki government is to enhance the value of Iraqi dinar a he told before elections.

The new parliament of Iraq is seating at 15th of June 2014 in the parliament house to decide the prime minister of Iraq. Hopefully Noor Al Maliki is the new prime minister of Iraq again. Unfortunately, parliament of Iraq will not be able to approve budget of Iraq for 2104 because Kurdistan regional government is not participating in the budget meeting.

Kurdistan regional government is asking for separation from central government and wants to make their own country with the name of Kurdistan. The initial step that Kurdistan regional government took for the separate home land is the issuance of their own currency instead of Iraqi dinar.

The spokesman at central bank of Iraq told Iraqi News 123 that we are not in a position to delay Iraq budget 2014 for more couple of days because along with domestic needs, the international companies operating in Iraq also need funds for the continuity of their operations in the country.

It is not too much timing taking job because both of regions want to negotiate and want to resolve this issue. Therefore they are ready to finish the deadlock. Kurdistan knows that approval of budget is so crucial for both of the regions this is pending approval due to boycotted of Kurdistan of every budgetary meeting in Iraq.

United States of America sent a delegation to the Kurdistan to discuss the things to resolve the issue between Kurdistan and Iraq. The oil dispute between both of the regions is the major cause for non approval of the annual budget of Iraq.

Jester, the famous dinar expert is of the view that timing matters a lot for completion of revaluation procedure in Iraq. Country requires a peaceful a stable environment for the country to revalue Iraqi dinar. It is not possible for Iraq to take this huge decision when the country is facing political and economical crisis.

The internal stack holders are all the political parties and the financial institutions. The external stack holders are international financial institutions like World bank and IMF etc. now WTO has also become the stack holder of Iraqi dinar revaluation because Iraq is now the member of World trade Organization. The problem with the revaluation of Iraqi dinar is just political environment of the country.

The new administration will start its work in the next few days according to guideline of central bank of Iraq. The new parameters for the performance and the new economic targets are also given to the all the commercial banks of Iraq so the new administration of central bank may evaluate the things accordingly.