Debate heats up on the process of deletion of zeros from the currency during seminar
During a seminar held by ((morning)) discussed Economists process of deletion of zeros from the Iraqi currency, and the order of the positives that can be reflected on the overall economic activity in Iraq or cons able to affect the business process
The overall financial, and as Deputy Governor of the Central Bank that the disintegration of the monetary system in the country is a clear lack of overall political process, wave specialists others participated in the seminar that the process requires timelines testify during the economic reality of Iraq more stability, which otherwise is witnessing now According to specialists.
said deputy central bank governor Dr appearance of Mohammed Saleh during the seminar a debate organized by the morning yesterday on the process of deletion of zeros from the currency and with it, it’s positives or negatives regarding the economic process as a whole: that Iraq suffers from the influence of the mass cash enormous estimated at 35 0.3 trillion dinars caused an increase inflation to dangerous levels, which called for initiating change currency and deleting three zeros them in order to shrink as it believes the use of categories of small cash.
pointing out that the deletion will be produced by issuing classes cash small up to 25 fils order filling a need transactions small future, stressing that the Iraqi dinar currently covered well and cash value estimated at more than $ 60 billion, a cap could keep the value of the dinar from all economic variables that could face the country.
was Saleh, who gave Mahazerh first Symposium has answered a number of questions that guide the participants in the same order, as explained during his answers to the financial value of the dinar after the change will maintain its position fully, denying that you get some imbalances in the process transactional to banks and banks with customers who deposited their money before the deletion of zeros.
Despite what was said in favor of the positives can be realized after the deletion, but the president of the Association of private banks Abdul Aziz Hassoun wondered about the feasibility of the change in value of financial standing after the deletion, saying at the same time: what will result from the deletion of zeros, from the comfort of the use of the currency, Will will that rest economically successful.
turn expressed an economic expert Dr Akram Abdel Aziz during Mhazertha on the sidelines of the seminar for lack its own absolute in times of time to process the deletion of zeros from the currency, wondering about the impact of the operation in enhancing the value of the currency and whether it will contribute to the positive impact on indicators cash as well as the guarantee that can protect against process of corruption.
believes Abdul Aziz said the adoption of a strategy for managing and structuring currency require surround all economic indicators, particularly the effectiveness of real sectors and services in the economy and what is the percentage of its contribution to the gross domestic product.
drew Abdul Aziz that enhance the value of the currency does not can be achieved implicitly, pointing out that the reasons for this comes because the value of the dinar and the strength derived from the diversification of income sources and increase built sectoral and making them able to produce goods and services, criticizing a growing reliance on the oil sector in supplying the budgets of the country of Finance, which has affected the stability of cash income from foreign currency and balances enhanced the value of the currency, as well as that this matter can keep on unilateral content export and increasing content import expands external borrowing.
participated in the seminar a number of experts and specialists in economic affairs representing many government and private agencies, and will be posted the morning an extensive report on the symposium in numbers next to them.