Iraq Chapter 7 Recovery Involves American Commitment
20 years after the 1990 Gulf War and the Iraqi Government is still faced with the clean up in the form of 73 United Nations sanctions. American coalition forces helped to create these sanctions. Today’s post Saddam agenda now has America committed to the recovery.
(Iraq) “Will not regain full sovereignty and independence without getting rid of these resolutions”, says Hoshyar Zebari, Iraq’s Foreign Minister in July of 2009.
The Government of Kuwait continues to siphon a percentage of oil revenue from Iraq with the help of these United Nation sanctions. Kuwait also owns 60% of the banks in Iraq. So if you can imagine the correlation of these two variables, everything is working together in the preparation of Iraq’s oil based recovery.
Understanding a ‘ball park’ time line for the revaluation of the Iraqi Dinar would require a broad look at all the parts of the puzzle that once together form an inevitable platform for the Dinar to springboard from.
Iraq elections in march of 2010 will be followed by the passing of the hydrocarbon law. This will increase oil revenue and combined with a forecast of increasing oil prices Iraq will be much better positioned for removal of sanctions and a revaluation.
Status of Forces Agreement was signed by Iraq Government officials which in essence was a promise of the U.S. Government to help out Iraq chapter 7. Iraq is not out of the woods yet but the country is in a position where full independence militarily is within reach.
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Written by Darren Chabluk for http://DrDinar.com
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