Sandy Ingram
Development Road Project...$17 billion project is an ongoing infrastructure development connecting Asia with Europe by establishing a network of railways, roads, ports and cities.
Iraq will be changed by the DRP in 3 major ways:
1. Diversification of Revenue beyond oil... 2. Job creation...this employment surge will increase household incomes and stimulate domestic consumption, all of which point to a higher IQD value.
3. Transportation infrastructure enhancement will reduce shipping times between Asia and Europe making Iraq a competitive alternative to traditional routes like the Suez Canal .
Here's the 3 ways the Development Road Project will increase the IQD's value.
1. Higher fees from transit fees and trade will help to increase Iraq's foreign currency reserves. This will provide a substantial foundation for the IQD.
2. Economic diversification and infrastructure improvements can attract foreign investments increasing demand for the IQD and potentially leading to currency appreciation.
3. A more balanced economy with multiple revenue streams can stabilize prices, contributing to a stronger and more stable currency.
It will also satisfy the IMF's recommendations for diversified revenue for a stronger Iraqi economy.