It is not time for the dinar to dismount
It is not time for the dinar to dismount
8-12-2023
Muhannad Sirry
Like the rest of the Iraqis, I was waiting for the Security Council to review the sanctions imposed on Iraq, in the hope that the blockade would be lifted in the last session, but the semi-annual sessions that are held every time, put forward a series of arguments, to extend the unjust blockade, until hope fades little by little and is almost gone. Fading away, among the millions of rocks eating bread, and the dominance of the “beast of tawa.”
In 1996, we had a date with the Memorandum of Understanding, known as Oil for Food and Drug, the market shook, the dollar fell, and even say there was some recovery for the dinar. I saw the joy in the faces of people while they were shopping, and wonder filled them, and the comparisons did not stop them: yesterday’s paste was “Bahlkad”, and today “Bahlkad”, while the improvement of the dinar negatively affected the merchants. Parents disowned their children, to get rid of the consequences of the debts owed by those in hiding, and advertisements for “disavowal” appeared in the newspapers.
Just a limited percentage of oil exports, which we do not have control over, and we do not receive hard money, affected the dinar positively, so what if the blockade was lifted completely?.. This is the question that we had, and tickled our feelings.
Thirteen years have passed, and the blockade is still on our chests, depleting our lives between permanent austerity and subsistence living, contenting ourselves with the ration ration and the same medicine.
The big change happened in 2003, and the Iraqis looked forward to the dinar in its new edition, and some of them exaggerated the image that he drew in his imagination, and he started wondering about the cash currency, and scrap in the category of “5” fils, and “10” fils, and the dirham, upwards, and positive energy rose among many When the siege on Iraq was lifted, and suspicions leaked out at first sight that the dinar would break the “greatness” of the dollar, especially after the wave of explosive budgets that were achieved as a result of the rise in oil prices, in which the barrel exceeded all previous numbers, just as it exceeded all expectations, until some of them linked it to the fortune of so-and-so or Announcement.
But billions of hard currency did not provide the dinar with oxygen to rise, just as the Kuwaiti dinar rose shortly after the end of the 1991 war, or the German mark after World War II.
Yes, the war ended, the siege ended, and the dinar was still in the room of the Iraqi Central Bank’s auction recovery, while we heard from time to time the project of deleting zeros, to be the alternative solution to the recovery of the dinar, which we were waiting for by lifting it, so it became the expected deletion, at a time when economists and coincidence analysts scramble to Finding a way out for the dinar, but with every crisis that shakes the market, the currency market appears as the only and unique way to preserve the livelihood of the dinar, before the collapse.
almaalomah.me
