Iraqi Dinar – Dinar
Which Way Iraqi Dinar Revaluation?
Everyone one who had been watching the news about Iraq and the Iraqi dinar will agree with me that the pace at which things are moving can be considered as very low. It had been quite sometimes now since the Iraq government had announced its desire to revaluate the Iraqi dinar, with the hope that a revaluated Iraqi dinar will help to bring some succor to the ailing Iraqi economy. Any one who is familiar with the news will surely be aware of the not so interesting situation that the Iraqi dinar and the lives of every Iraqi are in. the present living condition in Iraq is not so wonderful while the cost of living is very high, the standard of living still remains very low. It is not uncommon to see more than half of the Iraqi populace living below one dollar a day.
There had been several calls on the Iraqi government to quickly arrive at a lasting solution to the nasty situation that the Iraqi economy is facing. Several individuals, groups and organizations had been on the list of those calling for a final resolution to the issue at hand in Iraq. The calls had been coming from both international bodies and even local bodies.
Despite all these calls it is like the Iraqi government is not in the mood to take all necessary actions that will help to bring things back to normal in the country. There hadn’t been any kind of positive move towards the rebuilding of the Iraqi economy. And the lives of all and sundry in Iraq is still as negatively affected as it had been before the revaluation announcement was made by the government.
The world was informed that the revaluation and redenomination of the Iraqi dinar may actually not take place until a new government is formed in Iraq. It is like the formation of the new government is what the whole world needs to wait for before any positive change can be witnessed in Iraq. This same noise for the formation of a new government had been in the air for so long and it is like nothing much had been done in the way of actually putting the new government together.
The inconclusive situation that was met at the polls that were held in Iraq earlier in the year can then be blamed for the present condition in the country of Iraq. The number of votes won by the winning party at the polls was not enough to give them the needed majority to be declared as the winner of the post of prime minister and because of this no one was declared as the winner of the election.
If Iraq can make use of the suggestion given to it by the United Nations, things may actually have a lasting solution in Iraq. The United Nations asked Iraq to form a unity government in which all the parties that took part in the elections will have a role. We can only wait and watch as events unfold
