Nowadays, we have been aware that the Iraq Dinar holds a stake in the success of Iraq. As a matter of fact, there has not been an international exchange rate of this current generation that dictates the real value of the Iraqi Dinar. A lot of people have already invested on Iraq money and successfully generated additional income. But let us have a closer look on how the new Iraqi Government is preparing for the full withdrawal of coalition forces in Iraq.
Most of the significant things in this ever changing world have been achieved by those who have kept on trying at times when there seemed to be no hope at all. Such are the words that I would like you to picture in the following items that illustrate a tormented nation’s quest towards restoration and progress.
Deemed as the cradle of civilization, Iraq which is currently having its widely known Iraq Dinar is now on the threshold to recovery after suffering several setbacks, way back the 80s up to the aftermath of the fall of a tyrant regime. Aided by a coalition of goodwill nations, the Iraqi government has undertaken major changes in the political and economic conditions of the nation.
Before we proceed with the details of the rebuilding progress, let us first discuss some bits of history to better familiarize and be more appreciative of the gist of this piece.
The 70s saw Iraq made wide investment in the water sector and other infra projects utilizing the proceeds of its huge oil revenue. This slowed down during the Iran-Iraq War. Since then, the nation has been on its pathetic downward course as it became a war-torn nation marred by violence, economic meltdown, unemployment, devaluation of currency, and uprisings brought about by more than two decades of Saddam Hussein’s destructive and ruthless rule.
The country’s water supply, treatment plants, sewerage, generating stations and electrical supply systems were corrupted. Furthermore, Hussein’s wicked nuclear agenda has severely altered the regional and global stability prompting coalition forces, led by the United State of America, to formally launch an invasion in 2003.
The ouster of its impious leader did not instantly solve the problems of Iraq. As a matter of fact, molding the nation back to its deserved luster proved to be a very daunting task. Several years after the invasion, reconstruction has taken longer and costs more than what was initially estimated.
Iraq is still struggling from political and economic crises. It needed to hold plausible democratic elections at a time when its military was still battling al-Qaeda and other domestic insurrections. The victors had to establish a government despite gaps among various leaders and sects. All of these had to take place even as the US had reduced its forces from 150,000 to 50,000.
It seemed indicative of a bleak future for Iraq. But just as optimism is depicted at the opening words of this article, Iraq is rightfully deserving of the benefit to prove its worth in the pursuit for development, progress, and stability.
Iraq is not yet the peaceful Arab democracy and Middle East force that former President. Bush had envisioned when he decidedly pushed for an invasion almost a decade ago, but in the past 12 months it has taken some big steps towards that right direction. Some of the positive outcomes of the on-going reconstruction are manifested through the provision and enhancement of the country’s health care, security, potable water, sewer, electricity, and oil industry.
With a budget of $345 Million, some 133 clinics were established by the end of 2009. Iraq has now embraced health care as a constitutional right with more government-sponsored care becoming more accessible for the people.
Close to 400 thousand Iraqi security forces were organized and trained by the US military troops by 2007. On October of 2009, an added capacity to daily treat one million cubic meters of drinking water has served more than five million people. As to sewers, an added capacity to treat 1.2 million cubic meters per day has benefited 5.3 million people at a cost of $254 million.
Also by 2009, electricity supply had been increased to 6,000 megawatts. With respect to the oil industry, 2.4M barrels were produced and 1.9M barrels were exported daily. Oil production in early 2008 actually exceeded pre-war levels and is expected to continue to climb.
The Iraqi Ministry of Oil has awarded service contracts to international firms for some of Iraq’s rich oil fields. Foreign oil companies are fixing up the southern fields of the country that even the city of Basra, once a militia-ruled territory, is beginning to boom. Violence has remarkably dwindled to the lowest level that the country has known in decades despite the withdrawal of US troops.
With the strong backing of the US and other nations, not to mention the vast reserves of oil and natural gas, it wouldn’t be far too long before Iraq will fully recover from the pits. With the lifting of economic sanctions imposed by the UN, the Iraqi Dinar will soon revaluate to keep pace with other currencies of the world – just like Germany’s Deutsch mark did after being pinned worthless at the time of World War II… Just like Kuwait’s dinar did after hitting rock-bottom during the Desert Storm period.
While it still too early to draw conclusions about Iraq, it is nonetheless unwise not to be optimistic of its future. You can just draw examples from previous war-torn nations such as Japan, Germany, Kuwait, and Russia who, over the course of time, had steadily gained their way back to the top. It goes without saying that the rebuilding efforts of the Iraqi government and foreign interventions, focused on increasing security and stability throught legitimate political representation, infrastructure, and economic dynamism, will soon see its light.
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Written by Darren Chabluk for http://DrDinar.com
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Thank You for writing such a wonderful article Darren!
When will this revalue.
Mary, This thing will reval when Iraq Government pulls the reval trigger. They want to make sure it will be the right time when the moon lines up with the sun lines up with the stars, understand??
I just got my computer fixed, my council Chad fixed it, I traded him some advertising for his site. Will be promoting DrDinar and my cousins site called BitFix.ca a great Winnipeg Computer Repair shop. Chad can help fix your computer over the phone even, with great prices, sometimes free ; )
Darren Chabluk
Thanks Darren – very good article!
Things are shaping up pretty well for Iraq, its people and also for us as dinar investors. The revaluation will happen all in good time – we can`t push the river!!
Please add me to your list when you can. I am considering buying stock and bonds in Iraq. I hold the paper currency but would like to invest USD’s in Iraq. I have a broker right now but I know that you have to go through the Iraqi brokers. Please advise for this is all new to me. Thank you so much for the response. Stephanie
P.S. All your articles are so informative. Thanks
You must add yourself to my list near the top right corner of http://DrDinar.com/blog
Phone consultations are available for a fee of $250 for one hour or 1 call whichever comes first.
Darren Chabluk
Will The Old Saddam Hussein’s 10,000 Dinar notes Be Worth The Same, As The New 10,000 Dinar Notes. When The Time Comes. I Have 5 Million In The 10,000 Dinar Notes Mint Uncirculation.
No, the old Saddam notes are basically worthless except for collectors, if they are real, and immaculate then you can make some money.
How Would I Find A Collector? And YES They Are Real And Authentic.
Ebay has a niche for Saddam notes. Watch the sellers, and copy their ads, have lots of pictures, different angles.
The country’s water supply, treatment plants, sewerage, generating stations and electrical supply systems were corrupted. Furthermore, Hussein’s wicked nuclear agenda has severely altered the regional and global stability prompting coalition forces, led by the United State of America, to formally launch an invasion in 2003.
Are you kidding? What wicked nuclear agenda? The one made up by Cheyney and Busch? Who caused the sewage, generating station and electrical system to be comprimised? How about the bombing by the U.S. because of the bogus infomation on the nuclear program. Holy Cow, I guess the winners do write the history.
OBVIOUSLY ALL HOPE YOU WILL BE CORRECT IN YOUR PROGNOSIS RE IRAQ . UNFORTUNATELY , DEMOCRACY OR ELECTIVE GOVERNMENT IS EASIER TO PROPOSE THAN TO FULL FILL . NO STRONG LEADER HAS RISEN TO TAKE THE MANTLE OF LEADERSHIP IN THAT COUNTRY . AS AN INVESTOR -NO SPECULATOR – I HOPE MY WIFE WILL HAVE THE PROCEEDS FROM THIS VENTURE
RE
CARL M AVEN
Great article. The article sounds very civil but a major point continues to be missed: The ‘world’ leaders do not want Iraq to be a sovereign nation. There is NO reason the Iraqis currency is not exclusively their own, especially by now. No other war-torn country has been repaired to their magnitude of infrastructure and their incredible oil and fresh water supplies. Plus, why would the country, with the strongest anti-counter-fitting currency in the world continue to use the ‘Great Satan’s’ (overwhelmingly devalued) currency with our dead white presidents instead of their leaders and heritage? All the major currencies of the world are extremely depressed and the legitimate strength given back to Iraqi currency would have them buying everything and everybody. Conservative estimates EASILY have one dinar at $2.40USD.