Egypt’s Central Bank will drop zeros from currency despite calls to delay

Member of the Committee on economy: Central Bank of Egypt to implement project delete zeros despite calls delayed Date: Thursday, 31-05-2012 09: 07 am

Baghdad (newsletter) … Economic Committee member confirmed Deputy/Iraqi/coalition, determination albegari Noora Central Bank to implement the draft deleted three zeros from the currency early next year despite calls for postponement, noting that he agreed in principle with corporate promotional currency and typographical errors. She albegari (News Agency news) on Thursday: the Central Bank prepared a comprehensive study on the three zeros deleted project where its pros and cons of the project and handed over to the Commission and the House’s economic ministers to look at the relevance of the project to the Iraqi economy.

She added: the Central complete all procedures related to the project and began a phase of negotiation and agreement in principle with corporate promotional to advertise the project and other companies for printing the new currency, noting that the Central Bank would not reveal the nationalities of the companies that will agree with them for the implementation of the project.

She: you must carefully before applying so large project because affect the national economy directly in terms of both its pros and cons, especially that Iraq today is in conditions of unstable politically and economically.

Albegari: noted that the project had been exploited by the weak souls admitted counterfeit currency could create confusion in the economic process of the country. She is a member of the Commission on the economy: Central Bank of Egypt to implement the project early next year, despite objections to implementation and governmental claims to wait.

The Central Bank of Iraq was announced (September 29, 2011) to 2013 will delete the zeros and the currency changeover, which warned officials and economists because of its work preparing for faking maviat trillion Iraqi dinars in light of upcoming changes for a replacement.

With the Central Bank of Iraq accused the Government of obstructing the monetary reform and vowed to prosecute because it shows the financial interests of the country risk