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Council of Ministers decides to be patient in the process of removing the zeros from the national currency
Thursday, April 12 / April 2012 17:31
[Baghdad - where]
Council of Ministers decided to wait in the application process to delete the zeros from the national currency until further notice.
The Director General of the Department of Cabinet Affairs in a press statement received by all of Iraq [where] a copy of it on Thursday that "requires the decision to stop all actions relating to the operation until further notice."
"The Council of Ministers Decision No. [111] for the year 2012, adopted at the fifth regular session, held the day before yesterday was based on what I expounded on the Economic Affairs Committee."
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 need to the process of administrative reform of the currency in order to reduce the cost of cash transactions in the economic process as well as to 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 expected benefit of raising the zeros. Ended
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Thursday, April 12 / April 2012 17:31
[Baghdad - where]
Council of Ministers decided to wait in the application process to delete the zeros from the national currency until further notice.
The Director General of the Department of Cabinet Affairs in a press statement received by all of Iraq [where] a copy of it on Thursday that "requires the decision to stop all actions relating to the operation until further notice."
"The Council of Ministers Decision No. [111] for the year 2012, adopted at the fifth regular session, held the day before yesterday was based on what I expounded on the Economic Affairs Committee."
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 need to the process of administrative reform of the currency in order to reduce the cost of cash transactions in the economic process as well as to 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 expected benefit of raising the zeros. Ended
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