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Economist: delete the zeros and currency replacing have negative effects on the Iraqi economy
Translated by Iraqdirectory.com - [12/2/2011]
Economic expert, Asaad Al-Aquooli has warned of the currency exchange without working on the study accurately in all its aspects, emphasizing that it would cost the state budget large sums at a time when there are reactions and wide between the economic and financial circles this process is rejected in its current form, and their effects on the markets.
Al-Aquooli said on Saturday: The process of deleting the zeros and the replacement of the currency will have negative effects on the Iraqi economy, pointing out that the process of raising the zeros need to replace the form of currency, which means its impact on the Iraqi economy and state budget.
Al-Aquooli added that the Iraqi economy is currently suffering from many problems and the replacement of the currency will have negative results in this aspect, as it is too early to begin the implementation of this process in the economic circumstances of critical current, and continued: the market is influenced by the general economic situation of the country and any step is successful will to other problems, especially since the Central Bank of Iraq has declared that the decision to raise zeros from the Iraqi currency maker, but he needs to field work.
The Iraqi Central Bank Chancellor Mudher Mohammed Saleh said in an earlier statement: that the decision to raise zeros from the Iraqi currency has already taken, but it needs to field work at the level of banks and international accounts, the retirement of the old currency, and that field work is important for the completion of such a step being the need to create banks to deal with the competent organs of the new currency.
Its kind of interesting that he comments twice on the decision to raise the zero's is DONE.
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Translated by Iraqdirectory.com - [12/2/2011]
Economic expert, Asaad Al-Aquooli has warned of the currency exchange without working on the study accurately in all its aspects, emphasizing that it would cost the state budget large sums at a time when there are reactions and wide between the economic and financial circles this process is rejected in its current form, and their effects on the markets.
Al-Aquooli said on Saturday: The process of deleting the zeros and the replacement of the currency will have negative effects on the Iraqi economy, pointing out that the process of raising the zeros need to replace the form of currency, which means its impact on the Iraqi economy and state budget.
Al-Aquooli added that the Iraqi economy is currently suffering from many problems and the replacement of the currency will have negative results in this aspect, as it is too early to begin the implementation of this process in the economic circumstances of critical current, and continued: the market is influenced by the general economic situation of the country and any step is successful will to other problems, especially since the Central Bank of Iraq has declared that the decision to raise zeros from the Iraqi currency maker, but he needs to field work.
The Iraqi Central Bank Chancellor Mudher Mohammed Saleh said in an earlier statement: that the decision to raise zeros from the Iraqi currency has already taken, but it needs to field work at the level of banks and international accounts, the retirement of the old currency, and that field work is important for the completion of such a step being the need to create banks to deal with the competent organs of the new currency.
Its kind of interesting that he comments twice on the decision to raise the zero's is DONE.
[You must be registered and logged in to see this link.]
