Iraqi Dinar – Dinar
The Iraqi Dinar and the UN Sanction
It is the great desire of the government of Iraq to revaluate the Iraqi dinar. This could be vouched for by the announcement made by the Iraqi government some months earlier about its intention to revaluate the Iraqi dinar to the extent that the currency will be able to regain its strength and purchasing power. It is the belief of the Iraqi government that a revaluated Iraqi dinar will help to strengthen the value of the Iraqi dinar, which will lead to a reformed and improved Iraqi economy. At the end of the day, the people of Iraq will be the ones to benefit from this growth of the Iraqi economy. The people of Iraq will be able to experience a better standard of living and the cost of living will be highly reduced.
One factor however is threatening to make this whole process unrealizable and that factor is the sanction still placed on Iraq by the United Nations. This sanction is tending to become a clog in the wheel of progress for Iraq and its move towards a revaluated Iraqi dinar. It is becoming more glaring by the day that as long as the United Nations fails to remove the sanction on Iraq, the chances of a revaluated Iraqi dinar may as well be considered as unrealizable.
The sanction was placed on Iraq by the United Nations some years back over the accusation of the Iraqi government being involved with some human right offences and for being hostile to certain of its Arab neighbors. The sanction had been in place since then till now. The sanction was placed on Iraq during the regime of Saddam Hussein who was accused of being the one spear heading the repression move by Iraq on other Arab nations that surround Iraq. This same accusation was one of the factors that led to the war between Iraq and Kuwait. The same issue of hostile activity of the Iraqi government led b y Saddam Hussein was responsible for the war that was fought between Iraq and the united nation supported by the allied forces.
The Iraqi government made several appeal to the United Nations to get the sanction lifted after the ouster of Saddam Hussein. But it is like all the appeals of the Iraqi government are falling on deaf ears. The Iraqi government, presently led by Mr. al-Maliki, made it very clear to the united nations that the rift between it and the its Arabian neighbors is over and that Iraq had been complying with every conditions that are laid down by the united nations.
The United Nations on its part declared that Iraq still has some questions to which it had not been able to supply answers. The UN said that Iraq has still not fully settled with the republic of Kuwait and that all its human right abuses complain should be stopped. The UN said that the sanction will not be lifted until Iraq fully complies with these directives laid out for it.
