Central Bank: the project to delete three zeros from the currency is still standing

Central Bank: the project to delete three zeros from the currency is still standing

Published on Sunday, 07 October 1 / Okrudolf 2012 15:07 | Written by: ha-fa-ar | | | Hits: 154

BAGHDAD / obelisk: The Central Bank of Iraq, Sunday, not to cancel the restructuring of the Iraqi currency project goal by deleting three zeros, indicating that the project is still in place, and that the bank agreed with the government to postpone the implementation of the project at the moment.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh for "obelisk", "The talk about the abolition of the draft restructuring the local currency delete the zeros of which is true," explaining that "the project is still in place, and the bank agreed with the government to postpone the implementation of the project and coordination between the departments of political and economic and wait to choose the right time to start. "

Saleh attributed the postponement of the project to "the requirements of coordination and cooperation between the Central Bank on the one hand and between the legislative and executive branches on the other hand," asserting that "the central bank completed the bulk of the procedures for the implementation of the project to delete the zeros."

The Deputy Governor of the Central Bank that "the launching of a project to delete the zeros will require currency printing media and configuration of the project, also requires timely commensurate with the beginning of the calendar year," pointing out that "the project can not be implemented during the current fiscal year."

It was scheduled to be trading in the new currency early next year, but this project has been postponed, according to the parliamentary Finance Committee and the Central Bank to the year 2015.

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

It sounds to me that the CBI is ready to move on it, but not until the current Government is better prepared or a majority GOI is in place. It appears that the current situation in the Government is holding up so much progress. imo, for what ever its worth, when we start seeing more agreement within the GOI then we will see a substantial move in the infrastructure of the country and a restructuring of the current currency. All we can do is wait and watch.

ty !