Iraq has the fifth largest proven crude oil reserves in the world, and it passed Iran as the second largest producer of crude oil in OPEC at the end of 2012.
Iraqi financial expert claim that the value of Iraq’s federal reserves currently amounts to about $80 billion, following the increase in the country’s oil exports. This claim of strong exports can be corroborated from reliable data from US Energy. GDP data from World Bank show early signs of a possible stable and strong GDP in future. Overall, it appears that this oil nation may rebound back and its currency may grow stronger ( backed by Oil export revenue).
With the above factual data and trend, do you believe it is worth investing in Iraqi Dinar ? If yes, then why. If not, then why not ? Please provide hard facts and data in support.
Edited >1 y ago
Posted 8 y ago
The dinar has the potential to be strong and stable within a relatively short amount of time.
However my concern would be the government and lack of order within. Sadam ruled with a brutal, iron fist however the infrastructure, utilities and economy seemed to thrive under his reign. (My hard facts to back me up: I was there.)
I would never wish for that country to have another dictator but until their government becomes solid and steady like Kuwait and Saudi Arabia, I couldn't in good faith, invest.
What do you think?
Read This Next