In order to preserve the economy .. Economists: counterfeit currency must be withdrawn from the market as soon as

In order to preserve the economy .. Economists: counterfeit currency must be withdrawn from the market as soon as
On: Sun 02/19/2012 11:31

Baghdad (news) / report / Faleh Hussein / .. Called for a number of parliamentarians and economists need to take stringent action against those who they trade much counterfeit currency in the country, as it will lead to major problems in the national economy in terms of high 
prices in local markets and increase the purchasing power of more than planned, confirming through their talk (of the Agency news news) on the importance of a careful plan for the withdrawal of counterfeit currency markets to limit the danger, in addition to activating the work of the Central Agency for Standardization and Quality Control on the Iraqi border to prevent the entry of goods inferior or counterfeit currency to reduce the phenomenon of money laundering or the depletion of foreign exchange. 
The member of the Economic Commission Deputy About / coalition in Iraq / Qusay Gomaa said the continuation of trading currency, forged in the country without the necessary actions taken by the federal government and the Kurdistan Regional Government will lead to economic disaster will affect also the work of the monetary policy of the Central Bank being in control of the size of the cash raised in the local markets . 
said Friday in a statement to the Agency (news): You must develop solutions to address such phenomena in the country to reduce the danger, calling to take the necessary measures in order to maintain economic security in the country. 
He added that Iraq is dependent on international companies closer to the goods on the Iraqi border, Based on that should those companies that do not allow to enter the goods bad or counterfeit currency into the country to reduce the risk to be born as a result. while saw economic analyst Ibrahim al-Mashhadani, the presence of counterfeit currency in the domestic market, this means there will be an increase in the purchasing power of more than planned to monetary policy, and this is what will result to increase prices in the domestic market, which is what happens now.explained al-Mashhadani told the reporter Agency (news) is that in the event of continued circulation of counterfeit currency in the country will lead to high exchange rate of U.S. dollar in front of the Iraqi dinar by increasing the demand for the purchase of the domestic market, and this is what will lead to weakness of the Iraqi currency against hard currencies. He pointed out: that the fraud that occur now, it is not limited only to the gangs and armed groups within the country, but there are regional countries, particularly neighboring countries such as Iran play the role of a major in introducing counterfeit currency into Iraq in order to weaken the Iraqi economy and its currency, and the acquisition of hard currency of the country.He stressed the importance of intensifying the role of security forces to fight gangs that deal in this counterfeit currency and verification of those who aimed to destroy the Iraqi economy. He said al-Mashhadani: that the process of eliminating the circulation of counterfeit currency in the domestic market will be through the project to delete the three zeroes from the Iraqi currency, which was declared carried out the central bank early next year, by having to withdraw counterfeit currency circulating in the country and replace them with the new currency. For his part, said a member of the Finance Committee MP About / Kurdistan Alliance / Church Mustafa Haji should the concerned authorities to take legal action strict against those who do enter the counterfeit currency into the country and put it in local markets, as it will affect the national economy and the Iraqi currency. called Haji told the reporter Agency (news) to : the need to develop an accurate plan by the monetary policy for the withdrawal of counterfeit money from local markets to prevent the circulation in the country and to reduce the seriousness of the Iraqi economy. and between: the neighboring countries (Iran) are the main source of entry of these funds due to lack of quality control on the Iraqi border to examine the goods and the money coming into the country, calling for activating the work of standardization and quality control to reduce the phenomena of depletion of foreign exchange and money laundering that these phenomena generated from import random goods. warned against financial expert Ismail Abdul-Hussein of the spread of the phenomenon of switching of counterfeit currency for hard currency within the country because they cause serious on the Iraqi economy and the national currency, noting that most countries of the world began, “center used” the invention of special equipment for counterfeiting, particularly the Iraqi to fight the Iraqi economy and crush its currency. According to Abdul-Hussein (of the Agency news) is that neighboring countries like Syria and Iran is suffering today from an economic blockade and the deterioration of its currency, what made ​​them Tljian to Iraq to buy the dollar. He explained: that the Iraqi currency, which replace them in U.S. dollars as it was valid and not fraudulent, it is a positive thing for Iraq through the recovery of the Iraqi currency to the origin, while if the fake Iraqi banks is not ready to reveal these currencies there is a danger on Iraq in general. called: the importance that there be ready full by Iraqi banks to detect counterfeit currency by entering the country, in addition to control of the border crossings to prevent the entry of such currencies to Iraq. This works aggregates especially coming from Iran to the deployment of counterfeit currency and replace hard currency, raising the ire of the Iraqi citizen, with money exchange shops owners complained of the spread of counterfeit currency dramatically. / Finished