Iraqi Dinar 123 News :- It was revealed by the economists of Iraq that the revaluation of the currency or deleting zeroes from the dinar is not a good idea at this stage in time. The country is facing several issues including economic, security, monetary and several other issues. The Parliament needs to see different points before making any kind of a decision.
It is not a good idea at this point in time to implement a new monetary policy. Monetary reforms are needed in Iraq but before that the economic conditions of the country need to be stabilized. The security conditions of the country are also not good which are affecting other factors too.
The IMF is also showing a lot of interest in the financial issues of Iraq and they have increase their development fund to 18 billion dollars. The Central Bank has a good cash reserve of hard currency worth 70 billion dollars. The oil revenues have the competence to bring Iraq out of the crisis situation it has been facing since long but it needs proper planning. Absence of proper laws needs to be managed with a foresight into the future. Increasing the oil exports and increasing them to 2.0009 million barrels from 2.0002 million barrels a day.