Iraqs Economy and Its Condition

Iraq was a very strong country a few decades back. It had a very strong economy but with the passage of time and the constant war conditions the country lost all its beauty and has not been able to recover up till yet. The tourism got affected badly and due to the war conditions the Muslims who wanted to visit Iraq for pilgrimage were not given any visas. All those people who have been seeing the conditions of Iraq especially after the US attack on it in the nineteen eighties know how badly they have suffered.

The conditions of the country are terrible but the new government is making reforms and working in the best interest of the country and the public. The American interest in the country is putting the investors into doubt as they feel that maybe the US would take over the country completely and they would never be able to sell the IQD bought by them and suffer a lot of loss.

However according to the inside news, the US troops would be leaving soon and then Iraq would be a completely free country. A new political tenure would start and soon the people would start living in a terror free land. The inflation of the country would lessen too and soon things would get back to normal.

All those people who have been thinking about investing in the Iraqi dinar should not wait anymore and buy the currency immediately. There are many people who need the help of professionals to check out the currency originality and the price of it, so the best thing to do is to buy it through your local bank that is directly in contact with the Central Bank of Iraq. There is no chance that you would be given fake currency or old notes. The currency notes would be perfect in every way and completely fresh. Old or used notes should be avoided as they might be rejected when needed for selling.

The past conditions of Iraq’s economy have been always excellent; the country has been the land of prophets and has several shrines in it. Tourism has been a major way of earning but the war scattered everything. US is interfering too much in the industrial and fiscal sector of the country but the government at present is making reforms. They are waiting patiently for the US to pull itself out of Iraq so that things can be better for them.

The inflation is so high in the country that the public has to face a lot of issues. They buy a loaf of bread for 1000 Dinars which is too much. A lot of printing of the currency is going on which has lowered the rate of the currency badly. It is expected that when the Iraqi dinar would lose three zeroes from its value, the government would lessen the circulation of the currency from 4 million to 1 million.

This would be an excellent way to keep the scammers and fake people away from creating trouble with the currency. When this happens in the economy would soon get better and the present inflation situation would be controlled. It would take time but then the issues that the country has been facing for such a long time cannot get over with the snap of fingers only.

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