Wednesday, February 10, 2010
Proposal to abolish the zeros of the currency .. ” Some may deem necessary and the government calls the “trivial”
Deputy in the Iraqi parliament on Wednesday, the central bank’s decision to cancel the zeros of the Iraqi currency is expected Ttabekaya end of this year is a positive step for the Iraqi economy, what was described as an economic advisor to Prime Minister decision as “trivial.”
He says a member of the Finance Committee in the Iraqi parliament, Sami Atrushi that “delete the zeros of the Iraqi currency will leave a positive impact on the Iraqi economy during the next phase,” indicating that “the deletion process does not mean the removal of the monetary value of Iraqi currency, as understood by the other.”
The Advisor to the Governor Central Bank of Iraq the appearance of Mohammed Saleh announced in a press statement, on Tuesday, the bank will work to replace the Iraqi currency is a gradual end of this year, indicating that the purchasing power of the new currency will remain stable.
Atrushi and adds in an interview with “Alsumaria News”, that “the reality of change, which would be held in the Iraqi currency will change the face value of the dinar and not the real value is measured against which the value of the Iraqi dinar against the dollar and gold”, as he put it.
Atrushi and stressed the importance of “the Central Bank has adopted a new strategy in the coming period to educate citizens about the change that will happen in the currency Kalistratejip adopted in the process of changing the currency,” noting that “the strategy will spare the Iraqi economy, the risk of manipulation of traders in the new currency which will be available in the market” .
Attention Atrushi that “the plan, which will be followed by the central bank to delete the zeros do not necessarily begin in the year 2010″, stressing that “the economic conditions that were experienced by Iraq during the past period, prompting the Bank to the failure of the process of deleting zeros from the currency.”
For its part, considered an economic expert safety Smeisim that the process of deletion of zeros from currency is a good step but needs more information to the efforts of the economic efforts, “attributed to the fact that” the market will be exposed to vibration once the citizen’s belief that the deletion of zeros would have a negative impact on the real value of the currency ” .Smeisim adds in an interview with “Alsumaria News”, that “the real value of the coin is the value of goods received by the individual and strongly related to the national economy,” asserting that “these things can be achieved stable security situation, in addition to significant economic information effort to educate citizens on positive results of the process of removing zeros. “
For his part, describes the economic advisor to Prime Minister Abdel Hussein Anbuge in an interview for “Alsumaria News”, the process of changing the currency to “fake”
Anbuge say that “there is the so-called” fool the money “or the illusion of monetary and this illusion can determine how an agent at the beginning of the zeros of the currency that the citizens will feel better but in practice it takes a very short time to discover something different non-citizen”, calling the Iraqi Central Bank to “Cancel the zeros of the income of a citizen to improve its purchasing power,” as he put it.
Anbuge and adds that “the monetary policy pursued by the central bank depends on the law of the bank, which put the civil governor Paul Bremer, after 2003, which gave almost complete independence of the bank in managing monetary policy for the country”, pointing out that “The Iraqi government is not satisfied with that because of political problems economic problems of Iraq. ”
The Anbuge that “the main problems experienced by the Iraqi economy is concentrated in the private sector and the trade imbalance, in addition to the weakness of the expenditure structure of problems which must find swift solutions to them and not bother with minor issues”, stressing that the deletion of zeros from currency manipulation is the process of the “figures do not economic value to them. ”
The Advisor to the Governor Central Bank of Iraq the appearance of Mohammed Salih said in an interview earlier for “Alsumaria News”, last January, said that “the proposal to cancel some of the zeros of the Iraqi dinar is one of the priorities of the Central Bank of Iraq, to reform the currency and the organization”, noting that “past wars fought by Iraq, has caused the rise and inflation in the money supply of 25 billion dinars in 1980 to 23 trillion dinars now.”
Associated with changing the currency in Iraq permanently the political situation and related major changes when the Iraqi State was established in 1921, has been coined a new currency of the Kingdom of Iraq and continued until 14 July 1958, after the announcement of the republican system has been replaced by the currency of intellectual currency of the Republic, when he fell the former regime in 2003, changed the currency bearing the image of former President Saddam Hussein and the issuance of a new currency is traded on the market.
The CBI, with headquarters in Baghdad and has four branches in Basra and Sulaymaniyah, Irbil and Mosul, he founded the bank under the law of an independent Iraqi Central Bank of Iraq issued on 6 March 2004, and shall be responsible for the maintenance of price stability and the implementation of monetary policy, including exchange rate policies and management foreign reserves and the issuance of currency management, as well as to regulate the banking sector.
Alsumaria News / Baghdad
http://translate.google.com/translate?js=y&prev=_t&hl=en&ie=UTF-8&layout=1&eotf=1&u=http%3A%2F%2Fwww.alsumarianews.com%2Far%2F3%2F2978%2Fnews-details-%D9%85%D9%82%D8%AA%D8%B1%D8%AD%2520%D8%A5%D9%84%D8%BA%D8%A7%D8%A1%2520%D8%A7%D9%84%D8%A3%D8%B5%D9%81%D8%A7%D8%B1%2520%D9%85%D9%86%2520%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9..%2520%D8%A7%D9%84%D8%A8%D8%B9%D8%B6%2520%D9%8A%D8%B1%D8%A7%D9%87%2520%D8%B6%D8%B1%D9%88%D8%B1%D9%8A%D8%A7%D9%8B%2520%D9%88%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9%2520%D8%AA%D8%B5%D9%81%D9%87%D8%A7%2520%D8%A8%D9%80%2520%2522%D8%A7%D9%84%D8%AA%D8%A7%D9%81%D9%87%2522.html&sl=ar&tl=en
