Economists: the issuance of large cash solves categories of financial crises

Economists: the issuance of large cash solves categories of financial crises

11/16/2015

Dinars / Abbas Al passengers / .. Iraqi citizens does not hold in light of the great austerity and economic crisis the country is experiencing now, but humor and anecdote to face the bitter reality, it has become a new currency issuance of the 50 category Alpha over scarce when more citizens, especially in social networking sites (Facebook), motion, some poetry in this version, he says, one of the citizens (Badr Al-Rashed):
fifty thousand dinars and intensity prestige
Mainhml Eaa Altensl cash in his pocket
and was more comments of his friends about this publication revolves around that the issuance of these large denominations of 50 thousand or one hundred thousand BD is to facilitate thefts officials and state employees adult so that this category of the currency will make it easier for them is Sergathm much instead of resorting to the small of the 10 thousands currencies or five thousand dinars.
He adds citizen Jaafar al-Moussawi “retired employee” that it has the money now, he should in store for the coming days that ominous austerity and lack of supplier financial distress due to the deterioration of the country.
He adds citizen “Abu Zahra”: bankrupt in the convoy Secretary as simple accusing him of cash category, whether large or small metal or paper difficult or easy-to-citizen, but it is important to have it Is this monetary category is available has and how much he has them to pay rent or to go to the hospital and the purchase of treatment or to pay for generating civil and other remuneration of the necessary expenses, this is the most important Maevkr by Iraqi citizens now The issue of fiscal policy is something that is up to the state, planning, and policy Finance Ministry of Finance or Central Bank.
As Analysts said that the direction of the state towards the issuance of large cash categories solves the crisis stagnant Iraqi economy thing, and that this trend is hurt complicate matters and liquidity of the country’s box, while others see that the application of the law of the deletion of zeros is a priority to reduce printing and storage amounts big money in exchange for the low purchasing power of that currency, and put these large denominations will not contribute in the outer circulation process of import and export as they are in accordance with the hard currency but does not resolve the crisis of high and low buy the dollar and demand in the domestic market, and will be their usefulness is limited to insider that are in accordance with the local currency and also will reduce the momentum to pay salaries within the state government departments and banks.
The Central Bank of Iraq, had announced (01/18/2015), the financial reserve for Iraq equivalent and a half times the weakness of the money supply, she returned she was “the best rates “In the countries of the world, and as he emphasized that Iraqi financial institutions are” unable “to the fiscal deficit coverage, stressed the need to re-examine the structure of the budget and spending and diversify sources of income and to achieve investment more broadly to address the drop in oil prices.
The central bank decided the biggest responsible for the financial institution issuing coins in the country, wait to apply the project to delete the zeros and get rid of the money supply flabby Iraqi currency through printed Banknotes category (50) thousand dinars, as well as with small groups of coins, to facilitate the process of dealing and purchase between the citizen and local markets.
It is said that the application of restructuring currency project after deleting three zeros which is a necessity in light of the digital inflation, which transfer Iraq from Alumblyarah budget to Altrliunah, and these figures do not fit with the Iraqi budget and size of value, there is no justification for the issuance of large groups of perhaps will cause economic problems currencies.
revealed The central bank earlier its intention to issue coins small categories, indicating that those of currencies, written in Arabic and Kurdish. / End / 22 /

dananernews.com