Different opinions: Politicians: the project to delete the zeros-important; Economists- unimportant

Different opinions: Politicians: the project to delete the zeros-important; Economists- unimportant


dinaravatarIraqi observer – specialThe project to delete the zeros before long and is applicable of the important projects that work to reduce the volume of currency large circulating in Iraq and that اتخلو of risk in the event did not take a deliberate plan by the central bank

to Ihlolh without impact on the consequences of money laundering and fraud, has stressed member Economic Commission Abdulabas Xiaa the importance of the formation of committees control of all state institutions to pursue the process of destroying the old currency in the implementation of the project to delete the three zeroes from the national currency,

because the project to delete the three zeroes is one of the important projects and sensitive because it is linked to public money, process of implementation should be monitored and accurate to prevent fraud and manipulation and money laundering.

And practical measures to destroy the old currency must be under the control of the House of Representatives and government institutions in the country and with the participation of the media through the formation of committees to control, to prevent tampering and theft by some quarters, and continued:

that the central bank gave a deadline of two years for the process of replacing the old currency currency of a new, has identified the Economic Commission earlier date for the implementation of the project to delete the three zeroes from the currency early this year (2014),

asserting that the Central Bank to develop procedures limit fraud and manipulation that may accompany the process of replacing the currency, and this project ايعد to delete the three zeroes from the Iraqi currency only

but re-structuring currency in terms of reduction of banknotes, and will be the highest category of paper (200) dinars, which is shorthand for the $ (200) thousand dinars, equivalent to (170) dollars. and the central bank will begin its procedures proactive implementation of the project during the current year

Ktba currency and contracting with companies to be after the process of replacing the currency in the beginning of next year, the central bank put strict measures to prevent fraud that may accompany the replacement process,

and the country needs a draft restructuring currency after deleting three zeros from being coming to an expected increase in revenue of Finance in the coming years, it Sechtzel figures and banknotes.

It showed the Economic Commission that the project will include Coins & Stamps, and consists of categories (half JD, JD, JD 5, 10 dinars, 25 dinars, 50 dinars, 100 dinars, 200 dinars), so that the employee if his salary million Vestelm thousand dinars, five categories of paper of class (200) dinars, stressing that this process will facilitate a lot of things fiscal and monetary.

Observers believe economists that the draft of the new currency would not change a thing of the purchasing power of the Iraqi dinar and its effects are limited to organizational matters and reduce the size of the Currency massive rolling in Iraq.,

As well as stop the cycle of the Iraqi economy, which is one of the most important challenges facing policy makers in developing countries in general and Iraq in particular,

which means the use of the U.S. dollar or any foreign currency has a capacity replacement of the national currency in transactions and contracts internal financial and counted a store of value at the same time.

either positive second will be through reducing inflation rates Balamd average, which include raising the external value of the Iraqi dinar (ie, the nominal exchange rate) in a manner commensurate with the real exchange rate to contain inflationary expectations,

taking into consideration the trends apparent inflationary and the level of acceptance and availability of reserves inflationary and the level of acceptance and availability of international reserves at the Central Bank of Iraq

and a way inhibits inflationary expectations and reducing the speed of circulation coins , the deleting three zeros means converting 30 trillion dinars to 30 billion dollars by deleting three zeros from the current currency and replace it with a new currency.