The Iraqi government to delete the zeros Ttrat

The Iraqi government to delete the zeros Ttrat

on 8/7/2012

BAGHDAD / electronic integrity

The Iraqi government announced that it had decided to wait in the case of deletion of zeros from the currency and change, because of the enormous money supply that must be stored and destroyed, at a time through the Central Bank of Iraq for the first time about his understanding of this decision .

The Secretary-General of the Council of Ministers on the Keywords, said in a statement, said that «the point of view of the government in the case of deletion of zeros from the currency, and change, is a patient in the topic because the issue is not a priority at the present time», stressing that «the Council of Ministers is considering the possibilities and conditions available such a process ». The Keywords «We are not sure that we are able to control the process of withdrawal of big money in such circumstances,», calling to «not to hurry in the matter, because just think of the withdrawal of approximately 30 to 40 trillion dinars, storage and destruction needs to be serious consideration of the subject». The Products «there is no problem in the current currency because many of the countries involved in this way ».

For his part, Deputy Governor of Central Bank of Iraq appearance of Dr. Mohamed Saleh, told «Middle East», that «in any case and whatever we believe a central bank, it must be respected and the government’s view on this sensitive issue», pointing out that « was expressed by Secretary-General of the Council of Ministers is not new in fact at the level of patient in the deletion of zeros, but this was convinced from the outset the Council of Ministers ». Saleh added that «logically it without the cooperation between the government and the central bank, it can not apply this procedure», pointing out that «the government is responsible for fiscal policy, although we have the issuing authority». He stressed that «there is an important issue related to the system of account, as the deletion of three zeros mean delete the three places of the rules of arithmetic in Iraq». Saleh said that «the government has a point of view on this issue, and we need to adapt the government what we want taking it», calling at the same time «the formation of a tripartite committee of government and parliament and the central bank in order to examine this issue from different aspects and to reach a good decision for which ».

For his part, Dr. Abdul Hussein Al-Anbuge, economic advisor to Prime Minister Nuri al-Maliki, told «Middle East», that «a mistake to do this at the present time», adding that «the cost of replacing the currency will be an additional burden and perhaps an opportunity for corruption». He called Anbuge to «mechanization of the banking system and find ATMs and transfers of electronic and online trading and overcome the classic functions of banks to the functions of modern and modern tools, and develop risk management system and credit system to support development efforts and reconstruction», pointing out that «these areas will benefit the country and citizens time and assets which are being eroded inflation which we have been half as Mtat of shock Showing suffered the Iraqi economy and stop machine production, as well as being inflation driven by Elv high production due to the collapse of infrastructure and declining system of public services, including security and the absence of complete any external economies, all of which are substantial grounds supposed to be addressed procedures for real and not just delete the zeros ».
Source: alestiqama