Iraq ~ Shabibi ~ Delete the Zeros from the Iraqi Currency ~ Parliamentary looking economy with the Governor of the Central Bank ...

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Tuesday, December 13, 2011

Parliamentary looking economy with the Governor of the Central Bank project to delete the zeros from the Iraqi currency

Baghdad, Committee discussed the economy and investment representative with the Governor of the Central Bank of the project to delete the zeros from the Iraqi currency.

A member of the Committee Aziz Mayahi in a statement said today that "The Commission on Economy and Investment hosted on Iraqi Central Bank Governor Sinan Shabibi with a number of economic experts, and discussed the issue of deletion of zeros from the Iraqi currency, the Committee heard to a detailed explanation by the delegation on this subject.

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He added that "the Committee will consider the proposals of the delegation in this regard in order to reach the right decision to serve the interests of the Iraqi people," adding that "the Committee discussed with the delegation, a number of economic issues Kaltdkhm and ways to reduce its impacts on the Iraqi economy."

The Central Bank of Iraq and on to San bank adviser appearance of Mohammed Saleh told Al [where] the need for Iraq to the process of administrative reform of the currency, cash, and that the project to delete the zeros is a step comes as part of the country's needs to the process of administrative reform of the currency in order to reduce the cost of cash transactions in the economic process as well the need to provide small groups of coins used in daily circulation of small transactions.

The officials at the Central Bank as well as some politicians and economists urged the government to delete the zeros from the currency and the issuance of new currency denominations large cash in addition to the presence of small coins.

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 is that economists played down the importance of this step, considering that the cost of raising the zeros will be greater than the benefit expected to raise zeros.

And Abdul Hussein Al-Anbuge Adviser to the Prime Minister for Economic Affairs had warned earlier that the removal of zeros from the currency in the events will cause big problems and disrupt the Iraqi economy.

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