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The project to delete three zeros from Iraqi currency accompanied by significant inflation in the country
Member of the Finance Committee
Translated by Iraqdirectory.com - [1/23/2012]
A member of the Finance Committee MP / Kurdistan Alliance / Najiba Najib called to find the means and studies in order to strengthen the Iraqi currency, stressing that the proposed deletion of the three zeros will be accompanied high inflation in the country and does not lead to the strengthening of the Iraqi currency.
Najiba explained in a statement to the Agency (news) on Saturday: the project to delete three zeros from the Iraqi currency will not lead to increase the value of the Iraqi currency, but the project was accompanied by significant inflation in the country, which would put particular strain the shoulders of the Iraqi citizen.
She pointed out: that the Central Bank of Iraq is determined to implement the project to delete the three zeroes from the Iraqi currency under the pretext of restructuring, wondering: What is the feasibility of restructuring the currency without increasing its value, citing the need to lay the foundations and studies by the Central Bank in order to increase the value of Iraqi dinar against the foreign currencies.
She said: The Finance Committee representative asked the central bank to provide full studies on the project to delete the three zeros to stand on the negative aspects and positive for this project, as well as he needs new legislation and submitted to the House of Representatives for a vote, as a project of interest to all the Iraqi people.
The member of the parliamentary finance committee added that the project needs to have plenty of time to be implemented, and must develop a new mechanism and accurate by the central bank to ease the currency switch to the Iraqi people.
The CBI had announced earlier that the project to delete the three zeroes from the Iraqi currency exists in spite of the criticisms directed against him by the officials and the two economies, and will be implemented after two years from now, adding that he will include the publication of three large groups: the (200 ) dinars, equivalent to (200) thousand dinars currently, and the category (100) dinars, equivalent to (100) thousand dinars, while the third category (50) dinars, equivalent to (50) thousand dinars, the currency of the current, as well as the issuance of small metal categories.
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Member of the Finance Committee
Translated by Iraqdirectory.com - [1/23/2012]
A member of the Finance Committee MP / Kurdistan Alliance / Najiba Najib called to find the means and studies in order to strengthen the Iraqi currency, stressing that the proposed deletion of the three zeros will be accompanied high inflation in the country and does not lead to the strengthening of the Iraqi currency.
Najiba explained in a statement to the Agency (news) on Saturday: the project to delete three zeros from the Iraqi currency will not lead to increase the value of the Iraqi currency, but the project was accompanied by significant inflation in the country, which would put particular strain the shoulders of the Iraqi citizen.
She pointed out: that the Central Bank of Iraq is determined to implement the project to delete the three zeroes from the Iraqi currency under the pretext of restructuring, wondering: What is the feasibility of restructuring the currency without increasing its value, citing the need to lay the foundations and studies by the Central Bank in order to increase the value of Iraqi dinar against the foreign currencies.
She said: The Finance Committee representative asked the central bank to provide full studies on the project to delete the three zeros to stand on the negative aspects and positive for this project, as well as he needs new legislation and submitted to the House of Representatives for a vote, as a project of interest to all the Iraqi people.
The member of the parliamentary finance committee added that the project needs to have plenty of time to be implemented, and must develop a new mechanism and accurate by the central bank to ease the currency switch to the Iraqi people.
The CBI had announced earlier that the project to delete the three zeroes from the Iraqi currency exists in spite of the criticisms directed against him by the officials and the two economies, and will be implemented after two years from now, adding that he will include the publication of three large groups: the (200 ) dinars, equivalent to (200) thousand dinars currently, and the category (100) dinars, equivalent to (100) thousand dinars, while the third category (50) dinars, equivalent to (50) thousand dinars, the currency of the current, as well as the issuance of small metal categories.
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