The outgoing Iraqi government has faced criticism from economists for failing to increase the value of the Iraqi dinar despite the rise in oil prices on the international market, according to a report from AK News.
The dinar continues to suffer from it’s significant difference in value from the hard currencies and this divide has been blamed on the lack of financial planning by Iraq’s governmental economic institutions.
Iraqi economist, Taher Yasin said that the appropriate governmental institutions need to look seriously at the necessary frameworks that would develop the position of the Iraqi dinar on the international market.
“The problem of the Iraqi currency remaining the same despite high oil prices is due to the lack of economic awareness in the country, as well as the arbitrary decisions taken previously by the Iraqi government.” Yasin observed.
It is Yasin’s belief that Iraq’s economic prosperity and the strengthening of the Iraqi dinar are being hampered by financial problems resulting from the government’s past decisions and lack of financial planning.
(Source: AK News)