Member of the parliamentary rule out the economy near the deletion of zeros from the currency
Friday, November 26 1 / Okrudolf 2012 09:37
Member of the Committee ruled, investment and economic reconstruction to hold parliamentary process of deletion of zeros from the Iraqi currency.
Said committee member Nahida Daini told all of Iraq [where] the day that it was “unlikely to be a process of deleting the zeros from the currency in the near future so for several reasons, the most prominent of the instability of the economic situation and security in the country and lack of control at the required level and the volatility of the exchange rate against the U.S. dollar in addition to the adoption of Iraqi market economy. “
She added, “As the rising prices and falling also linked near the regional situation of Iraq and that this situation also occurs in most countries of the world” ruled out “the possibility of fixing the exchange rate of the dollar as a measure to maintain price stability in the domestic market.”
The Cabinet decided in its meeting held on April 10 last patient in the application process to delete the zeros from the national currency to notice.
The Central Bank of Iraq, and on the lips bank adviser appearance of Mohammed Saleh,
The officials at the central bank, in addition to some politicians and economists, urged the government to delete the zeros from the currency, and the issuance of a new currency denominations of cash, in addition to the presence of small coins.
As an economist described as beautiful, invoke the security and economic situation, and work to postpone the process of lifting the zeros from the currency arguments “flimsy”.
Jamil told [Wayne], that “everything in Iraq has become subject to political decisions and moods, noting that” one of the paragraphs of the Central Bank Act, allow him to print and change the currency. “
Observers say that the government intends to delete the zeros from the currency as a step towards improving the purchasing power of the Iraqi dinar, but economists played down the importance of this step, considering that the cost of raising the zeros will be greater than the desired benefit of raising the zeros.
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