More than ten years have passed since the downfall of Saddam Hussein and the invasion of Iraq. It was 20 March 2003, that a US organized coalition invaded Iraq, this is known as the invasion of Iraq. Under the guise that Iraq has not successfully abandoned their weapons of mass destruction, their fifth president Saddam Hussein was accused of using chemical bombs against Iran; the coalition had some major forces along with the US. Most of the intelligence on Iraq was carried out by the British government, and the claim for all this was based on information provided by CIA and British intelligence agencies. Iraqi army was disbanded, and US troops took over the security situation of Iraq, has the US, the region or the world benefited from the invasion? Had not the invasion took place the region the whole region would have suffered more terrorism? Well only time will this, but the invasion and all this war has left a mark on Iraq and its economy.
In general elections in the US, 6 out of 10 people opposed their policy and approach towards Iraq, and similar results were in favor of retention of US troops from Iraq, already much has been wasted they say. Wars have never built things, ever! Now coming back to the invasion of Iraq, when Iraq’s Sunni dominated army was disbanded majority of their government officials were also washed away, they had the reputation of being puppets of Saddam Hussein, which brought more chaos to the environment. Technically there was no Iraqi government in Iraq.
But after all this, all the sufferings, war and combats and collapse of industry where does Iraq stand? What should the citizens of Iraq expect from the near future? Or what should the investors or potential businessmen who wish to invest in Iraq do. The fact is Iraq is still a place to invest according to many economists, their argument is that yes there has been major destruction in Iraq economy has collapsed and Iraqi dinar has lost its power, but still Iraq has the capability to bounce back, and with federal government now fully in charge, and majority of the troops have been recalled by the US, the situation of war and killings have been cut down, though it is not a peaceful business place but it is much better situation than the last decade. Iraq has successfully convinced some of its creditors to write off 80% of their debts which Iraq had to pay in the near future, the continuous efforts of the government and the retention of troops have helped environment to get on the path to normalcy, obviously no one can claim that Iraq has gained normalcy and peace but there is always a start, these efforts have made the dinar stable. Marginal rise in its value of exchange has been seen as well, and people are once again eager to invest in the Iraqi dinar and it is again being reintroduced the world trade and monetary markets as well.