CBI officially informs House its ready to implement currency reform at beginning of 2013; Politicians not sure if timing is right

Member of the Committee on economy: Central Bank officially informed the House ready for a project delete zeros … The interception of a representative around it Date: 2012-08-07 12: 01: 44 Tuesday

Baghdad (News) … According to a member of the Committee on the economy and investment Deputy/Iraqi/coalition albegari, Nora House recognizes a formal letter from the Central Bank that includes details of three zeros from the currency deleted and called for its application early next year, saying there is no objection by the House of representatives on the implementation of the project that the country still is not formatted to replace the national currency.

She albegari (News Agency news) on Tuesday that the Central Bank of Iraq sent a letter to the financial and economic committees in the House of representatives expressed its readiness to apply the draft three zeros from the currency be deleted during the next year and contains a detailed explanation of the project and implementation phases for the purpose of discussion in the House of representatives and a ceiling to be applied.

Showed: that most of the members of the House of representatives refused to implement the project in the next year as a large project and needs sufficient time for discussion and study, they see that Iraq is still not ready to implement this project and fear that cast a negative impact on the national economy and the local currency.

She added: the parliamentary Economic Committee will meet in the coming days to discuss the project and may be called the Governor of the Central Bank and hosted in the House of representatives to clarify paragraphs stages project and the possibility of their application.

The Central Bank of Iraq was announced (September 29, 2011) to 2013 will see the deletion of zeros and the currency changeover, which warned officials and economists because of the Division of work preparing to falsify trillion Iraqi dinars to replace them in the light of the forthcoming changes.

The Student Council of the Prime Central Bank to wait to delete the three zeros from the local currency, confirmed that a large project and needs sufficient time to apply it.