View Full Version : Experts: delete the zeros of its dinar against the dollar and price policy

Hue Mi
02-22-2014, 05:11 AM
Experts: delete the zeros of its dinar against the dollar and price policy (http://www.almadapaper.net/ar/news/459657/%D8%AE%D8%A8%D8%B1%D8%A7%D8%A1-%D8%AD%D8%B0%D9%81-%D8%A3%D8%B5%D9%81%D8%A7%D8%B1-%D8%A7%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-%D9%8A%D8%B2%D9%8A%D8%AF-%D9%85%D9%86--%D9%82%D9%88%D8%AA%D9%87-%D8%A3%D9%85)


Baghdad/Nihad Kazem

Experts and specialists in financial affairs in the country that is implementing a project to delete zeros from the Iraqi dinar will further ground against the US dollar, in addition to facilitating a political price in the country, with a parliamentary Committee asked the Government "shut down" to force it to implement it through constitutional provisions that permit the printing of new currency, pointing to exit from Chapter 7, and achieving balance Iraq 76 billion dollars in international banks catalysts to delete the zeros.

He said the decision of the Commission on economy and investment representative mahma Khalil in an interview with the "range" the Government stand against making the decision to delete the three zeros of the Iraqi currency, claiming fear of counterfeiting is unjustified, especially the regional climate is appropriate after the departure of Iraq from Chapter VII global investment companies raced to invest in Iraq.

He said: there is a legitimate action as a means of pressure on the Government to force it to back down from its position, including recourse to constitutional provisions that permit the printing of new currency and the Iraqi dinar weakened against the u.s. dollar as an urgent economic necessity after the sovereign Iraq reached banks of 76 billion dollars.

The Economist said Majid mock "range" that the Central Bank of Iraq in agreement with the Ministry of finance provided the necessary studies to process delete zeros since 2008 and has taken all action on the restructuring of the Iraqi currency, currency, currency design and the quality of the paper used has confirmed that it is the finest paper non-cash or forgery.

He added that the Executive Branch has decided to postpone the process of restructuring the Iraqi currency which led to the grounding of all procedures related to this project, the objective of the restructuring is to reduce the cost of handling and easier to handle, especially medium and large transactions as well as facilitate price policy in the country.

He stressed the need to accompany the package of measures distributed on all departments and State enterprises and banks to develop solutions to the problems and obstacles that can arise during the restructuring process, including cash, accounting, and security as well as to take actions to destroy the currency received de facto abolitionist.

He noted that Iraq's experience with Exchange 2003 was very rich but they only change currency format and replace it, so did not invoke the accounting or legal requirements, the need to educate departments, banks and citizens to restructure the currency as well as the use of modern technologies to detect fraud, and called for non-interference by politicians and such decisions of affixes and skirmishes, because that is not in the interest of monetary policy and the economy.

The financial expert said THAMER alhims "range" to highlight the benefits of deleting zeros is to create flexibility and ease of trading, for example, that in the case of activation of the resolution will be minted coins with small values as 50 cents or less, under that will be priced between 1/4 and 1/2 dinars or less, so it will be a great prospect in the high value of the Iraqi dinar against the u.s. dollar if the BIOS according to the solid monetary policy which will contribute to the improvement of family incomes and limited social strata Income.