Iraqi Dinar in 2013
Prediction is fun, but never easy. It is not possible to predict the exact position of the Iraqi Dinar in 2013, but based on the current scenario and expected changes in Iraq’s policies, one can make a rough judgment.
Iraq looks forward to welcoming new policies in 2013. One major announcement regarding the Iraqi Dinar is the deletion of three zeroes that were originally introduced almost a decade back, when America invaded Iraq.
The deletion of three zeroes will have a major impact on the value of the Iraqi currency. The government aims to strengthen the currency by implementing this policy, as it believes that the removal will solidify the Dinar’s position and add more credibility to it. The decision received mixed reviews, as many experts have challenged the choice, suggesting that it might backfire if things are not handled well. However, the government is sure that it has a foolproof plan, which will result in an appreciated value of the Iraqi Dinar.
Experts hold the opinion that the removal of three zeroes will not help, if the country fails to prosper in other fields. There is the fear of policies boomeranging, and the Dinar losing its value. However, the government says that it is prepared to face every condition.
The authorities have recently announced that they are aiming towards increasing exports. The oil minister has recently announced the country’s intention of installing more oil refineries to increase the production of oil, so that more foreign reserve can be earned.
It is a good sign that the country understands the importance of investment. Recently, it has also amended policies, so that foreign direct investment (FDI) could be made easy. The government has invited several big names to invest in the country. There is no doubt that Iraq holds a lot of potential as it has a huge population, and there is a great need of new factories to meet the growing demand.
Iraq has recently approved a huge budget to accommodate the changes it aims to bring in 2013. The country is looking forward to earn tourism revenue. Currently, people are afraid of visiting the country, given the peace situation prevailing in the region. However, Iraq has controlled its law and order situation to a large extent. There is a great buzz about its new tourism policies to be revealed in a few months.
The government is already working with America towards improving the infrastructure and spreading education to every corner of the country. Today, Iraq is largely influenced by the US. Iraqi schools are teaching English and educating people, so that the country can have an educated workforce, which is required for growth and prosperity.
In short, 2013 is probably going to be a year of growth, as far as the Iraqi Dinar is concerned. Everyone is waiting to see how the new policies will play out. It is understood that the government has the right plan, and that the Iraqi Dinar will improve in the coming years.