Parliamentary Finance: Dinar will not regain normal soon

BAGHDAD / evidence the Vice-Chairman of the Finance Committee MP for the Kurdish coalition blocs Ahmed Hassan overflow of God, that his committee proposed to the Governor of the Central Bank to act cash reserve is located from the dollar to maintain the value of Iraqi dinar, stressing that the Central rejected the proposal and the intervention of any point in his work.

The flood of God, in a press statement on Wednesday, that the meeting has been made ​​in the Finance Committee the parliamentary presence of the central bank governor, touched on the many topics of interest to the national economy and the Iraqi dinar, most notably preserve the value of the dinar against the dollar and how to work a project delete the three zeroes from the currency, indicating failure to reach any conclusion about those topics.

He added that his committee submitted a proposal to the Central Bank Governor Sinan Shabibi act reservoir monetary existing hard currency "dollar", which was estimated at more than (60) billion dollars, in order to stabilize the exchange rate of the dinar against the dollar, but the Shabibi refused and asked not to enter any his work on the fact that the Central Bank is an independent body.

He ruled the Attorney Faizullah restoration of the Iraqi dinar during the current period with the absence of local products and dependence on extractive industries "oil", because the increased value of the dinar need a strong economy based on large sectors of the economy.

And the project to delete the three zeroes from the currency, he pointed out that the time is still not perfect and can not be that the project is implemented in a period marked by crises and political instability and economic situation in the country, saying most of the members of the Finance Committee are not convinced this project because it does not hurt the interests of the Iraqi people at a time present.

[You must be registered and logged in to see this link.]

YO AHMED !!! THE MAN WHO KNOWS ABOUT THE CURRENCY, IS DR. SHABIBI!! HE GOT THE DR. IN FRONT OF HIS NAME FROM YEARS OF SCHOOL!!!! HELLO; IS ANYONE HOME !!!!

"...the project to delete the three zeroes from the currency, ... the time is still not perfect and can not be that the project is implemented in a period marked by crises and political instability and economic situation in the country..."

Will the implementation of the Erbil agreement settle the political instability? What will need to happen economically before the dinar will revalue? We saw in another article that Maliki seems to have US support so we wait....we wait for Maliki and Maliki alone imo and that is concerning to me since he has acquired so much power and continues to ignore the constitutional requirement of having his ministers seated within the first 30 days of becoming PM. That said, I am a bit hopeful of recent articles of Maliki saying he wants to adhere to the constitution and that he wants the Erbil Agreement implemented. I believe he wants the power of the dinar to return. Again, we wait.

Shabibi has asked for:
A stable government, and promises made to the people kept....
so while it may seem so close that you could touch it, it is yet so far away....

Have a good summer all, and what ever you do, don't buy reserves....There is much to settle before the RV sees the light of day. I'd love to see it happen in one BIG meeting..and of course it could, but not likely or probable.

Hang in there, we've just got to weather this storm...but remember, one day, we will all wake up, and it would have happened....

Come see me at the beach! The water is great.

All the best, bye the sea