Iraqi Government is busy in their plays which are always the same, corruption and formation of favorite personnel’s consisting Government. After the end of Haider al Abadi Government, the successor Iraqi Government was lacking the vision to run the country efficiently. Due to their corrupt policies every one of them wants to have a large piece of profit cuts from the Government Treasure. The Prime Minister Abdul Mehdi has the Cabinet, consists of corrupt politicians which work only on their personal wealth. Iraq is one of the Arab countries which is richest in Oil wealth and if the Government of Iraq wants, they have every opportunity to accumulate wealth and transform their economy which is currently Oil centered to other numerous exports like Chemical manufacturing or Machinery Manufacturing by installing plants of them. Iraq is 37th largest export economy in the world, according to a survey Iraq’s exports in the midst of 2019 were across $70 Billion while on the other hand Iraq’s imports were around $35 Billion. There is still a significant positive difference between Iraq’s Exports and Imports of around $35 Billion. Iraq’s major Imports are Gold, Machinery & Cars, which ultimately means Iraqi Government can do much better to enhance its exports which will ultimately enhance its economy. Iraqi Government can reduce poverty and unemployability by installing industrial plants of machinery manufacturing & car production units. In this way, Iraq’s Government can reduce its Imports size, which will ultimately Revalue the Iraqi Dinar in International Market but it seems Iraqi Government is only considering the option of deleting the zeroes. Deleting the Zeroes will certainly enhance the Iraqi Dinar Value but it will not benefit much for the Iraqi Dinar investors like us who are waiting for proper Revaluation of Iraqi Dinar.
In these all contexts it really seems that the formation of new Government is a mouse circle which will goes around and round benefitted none but some handful of Corrupt personals. Some officials have been stated that soon after the formation of new Government, political figures are intending to reinstate the monetary reforms which will set the direction of deleting the zeroes project, with the collaboration of World Bank and US Government to Revalue the Iraqi Dinar. The Iraqi Dinar RV delay is also from another notable factor which is the Coronavirus. Coronavirus has devastated the global economy and the effects of Coronavirus on Iraqi Dinar RV cannot be denied. The reason for that is quite obvious, Iraq Economy and Exports are primarily determined on Crude Oil and Crude Oil products, which decreased due to this pandemic. It has been heard and we can only hope that it will come true that the main objectives of the new Government is to increase the Oil extractions and Oil related products exports. We have to wait till the formation of new Government and settlement of this atrocious pandemic. It is also clear that lack of one of these mentioned reasons will not better the situation in balance of us, both of the troubling factors must be dissolve in order to stabilize the Iraqi Dinar but it has been listened from one of the scientist working in Canadian Lab that this was the first phase of Coronavirus and second phase of Coronavirus will be more severe and will causes more damaged than the present one.