Warnings of deteriorating Iraqi currency by deleting zeros

Iraqi economists warned of a possible collapse of the national currency when applying the draft three zeros from the currency, deletion, stressing at the same time if he was deleting zeroes from the Iraqi currency at present would be interpreted so many risks because of poor conditions in the country, instability, insecurity and corruption, noting that this process is not possible at present because it will lead to a major crisis in the Iraqi economy.

And the beautiful name Economist Antoine: “Although the deletion of zeros from the currency a currency and ease restructuring large digital calculations for cashiers to alleviate burdens of Accountants in count number portability but currently not suitable for Exchange because there is no security and economic stability in the country.”

Anton said that “political differences in the country have a clear impact on the economy because politics and Economics توءمان do not differ from each other to improve the country’s economy requires political decisions and political will as well as building a well-defined economic strategy of the country, involving professionals and economic efficiencies.

Said the Economic Adviser to the Iraqi Prime Minister Abd al-Husayn Al-Anbuge to delete zeros from the local currency will increase the phenomenon of money laundering.

He pointed out that the Government had informed the Central Bank risk economic security in case the Bank insisted on the deletion of zeros from the local currency.He said the process cost time and effort to the Government and the Central Bank and raises the level of fraud of some terrorist groups for smuggling money out of the country.

Earlier, he had called the Iraqi Cabinet last month asked to wait in the application deleting zeros from the local currency to further notice. Observers say that the Government intended to delete zeros from the currency as a step towards improving the purchasing power of the Iraqi dinar but economists underestimated the importance of this step, saying that the cost of raising zeros will be greater than the benefit of lifting.