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Take three zeros and stay tuned for results
26/07/2011
Is the Monetary Authority in Iraq led by the Iraqi Central Bank to raise three zeros from the currency in circulation and the objective they say curbing inflation and reducing prices and disposal of large cash blocks. This procedure, this experience has undergone several States by economists.
Mere launch permit this kind of news making citizen watching cautiously many stakeholders and owners of money questioned the impacts that may result from this action (deleting zeros). ALA dealer owes its supposed owner fictitious Haider also 100 million dinars says ALA: How do I accept 100,000 dinars from the Haider case delete three zeros?.Click all or most of us recognize that our weak economic culture where never understood all that deleting zeros will not affect commercial transactions or journal of debts and other this will lead to the result to an escalating balance of litigation in the courts inevitably in time complaining about the many cases of the courts and delayed by the shortage of judges this little known fact, that's one of the effects that may arise from deleting zeros. Authorization required a high level of awareness of dealing with such conflicts and understand citizen previously non-damage by deleting zeros and this requires a programme of work and sufficient time for maturing the idea and this is the duty of the ECB definitely before the start of the procedure for deletion time.
One expert stressed me in responding to my question about the potential effects of deleting zeros that Turkey has gone through this experience allowing timely to dealing and trading in currencies simultaneously and a long period of time until all segments of society in the absence of damage by deleting zeros. find this optimal experience in addressing social problems and RID courts of voluminous cases assumed this hand on the other hand, this procedure is gradually breaking back prices that may try to Rise as a result of this procedure.
A fact that must not be forgotten that a number of media statements haphazardly firing officials without prior planning or knowledge and expertise to the economic consequences that may arise from remarks hurt the national economy by Arafa or unknowingly therefore reiterate the case to the stakeholders to the need to develop a programme to curb the large displays for long periods before announcing a delete zeros to tackle every eventuality or effects which may arise from deleting zeros for de-authorization officials without clarifying required and tell them enough you optimistic rhetoric and apparent mercy With the economy recovering and our perhaps that have benefited from the currency change errors after the fall of the old regime.
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