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Delete the zeros feminine ... .. Or absorption of the coin?
Date: Mon 25/07/2011 19:48
Investigation / Sabrine Ali
raised the process of removing the zeros announced by the Central Bank of Iraq mixed reactions, which split into two teams first reservation to this procedure and the second supported by the light of monetary policy, seeking to rein in inflation. (Range economic) discussed the merits of this issue and the positive and negative effects on the reality of Iraq's economic by investigating the following:
central bank
Central bank adviser said the appearance of Mohammed Saleh: that the deletion of zeros from the currency enters as part of restructuring and in facilitating the monetary measures, because the existence of these zeros has added a lot of deterioration, inflation, big on the reality of currency and use it.
The added benefit: The monetary system in Iraq has become a complicated existence of the cluster enormous cash, the process of deletion of zeros restore what is destroyed them and reduce their size, and at present the majority of the people who came into conflict economic reforms, a number and enters the subject of changing the currency in these reforms and the forms and categories and sizes of new Iraq is the need to change because of Maousel him of conflicts during the eras past time to be able to make changes on the currency on the one hand and reducing the money supply of the other hand, while maintaining its monetary value, the dinar is equivalent to a thousand dinars.
Saleh continued: that dealers currencies, the big ones dealings of the banks with one hand and dealing with the bank on the other hand they know the complexities experienced by the currency because of the large volume of money supply which came to it at the present time where it needs to be changes are the categories that have reached sizes to trillions and is it inflation falls to the cash transactions because it is the complexities of several in the field of payments.
and in favor of the feminine currency return of the balance and find a system that works to correct the cash economy, which reached into the millions and trillions and this is what I worked a lot of countries through the deletion of zeros, stressing that this process is working on reducing its currency and reduce the enormous mass of cash.
Saleh said : This topic does not include with it any negative impact is that he needs time to be absorbed the old currency from the Central Bank, banks and companies and then expanding it, in addition to that it needs to be concerted efforts by the government and the House of Representatives to be filled currency that are part of the national economy and the market and the general budget.
Salih noted that it will be deleted versions and add new ones in both Arabic and Kurdish will also be issuing a coin to its side, stressing that the central bank will awareness campaigns and the media so that citizens know the changes in the currency, and under its authority to that on the basis that the Iraqi citizen has become more accommodating to these things through know the cultures of many and through experiences best subject.
a complement to economic growth:
economist said Salem al-Bayati: The subject of the deletion of zeros from the currency is one of the solutions to aspects of the academic treatment of inflation, economic, as this topic is part of the solution to economic crises and this Mangda in some countries that has changed the currency or delete the zeros of which added this subject to the reforms of other economic terms is something integral to economic growth in countries with a state of progress.
Al-Bayati said: that the deletion of zeros need to follow a monetary policy organization, which is certainly a lot of problems that could fall at what had been changed because the purpose of this topic to achieve economic feasibility if not achieve this benefit, which will reflect negatively on the economy and it needs to that there is order in everything related to this topic.
reduce the mass of cash
, said financial expert Hilal Taan: The Mi_khas add zeros of new Iraqi currency after 2003 at a time when Iraq suffers from a case of inflation, monetary and a case of fraud in which led governments successive to change and form a committee in this regard.
He Taan: that the deletion of zeros from the currency leads to ease of handling citizen, the cash block will fall from 2500 to 15 billion dinars, equivalent to 3% of the rate of inflation, which works to revive the Iraqi economy in general A look at interactive by experts and those interested in this matter and supporters of the project to delete the zeros on the grounds that the subject has a positive effect on economic reality, where it leads to increase purchasing power and the entry of Iraq in the global markets, there is an overview of the countries that will increase the zeros in the currency, which indicates to the existence of a state of dislocation of economic in the country either in the case of delete, which reflects the existence of a state of economic improvement there.
calculations:
said economic researcher from the University of Mustansiriya Amr Hisham: The deletion of zeros located in part of the calculations only as it related to the numbers and change the formal it is one of Monetary Reform, and this is what has been working in many countries that have developed economically and applies it to many of the neighboring countries like Turkey and Russia and others.
He said Hisham: There is a fear of this process because it leads to a case of manipulation by some traders such as using the old currency and not accepting to deal in the new currency, stressing the need that there will be time to return the citizen on the new currency and the withdrawal of currency during this time to replace them on the basis of the minus-out in the market.
He Hisham: that this issue is the importance and feasibility work on the reform of monetization and financial In addition to Ahitha formal and moral.
and Hisham that a lot of traders tend most often to carry currency, the dollar because they typically treat with big money, since the deletion of zeros makes the possibility of dealing with by them easy to
raise the purchasing power:
Dr Nabeel Jafar from the University of Basra : The deletion of zeros included in the framework of restructuring the Iraqi economy, which was recommended by the International Monetary Fund, as the basic purpose of this subject lies in reducing the size of the mass of cash in financial transactions in the markets and transactions and individuals in the Iraqi dinar.
He Jafar This is the step of positive steps towards economy, where they were not new to the international situation and the regional was changed in many countries and constitutes a positive step towards economic progress for these countries.
He Jaafar said the idea to delete the zeros do not constitute any risk to the currency Awartvaa prices in what has been dealing with this issue systematically, a matter of form but include economic ideas that would reduce the money supply and facilitate their use instead of using other currencies by some merchants.
and Jafar that this issue would work to raise the purchasing power of individuals, where it will lead to a deal in Iraq and raises of the value of the currency against the dollar and other currencies because of such a subject is working to increase the trust of dealers out whether local or foreigners.
administrative processes:
Dr. Hazem Abdel-Hamid Al Nuaimi, from the University of Mustansiriya: The process of changing the currency and the deletion of zeros of things within the framework of administrative dealings than others, and have important mathematical influence the direction of economic transactions and productivity on both forward.
He Naimi: that this issue does not represent any danger of the direction of influence on the market or prices and purchasing power, but on the contrary it increases the ability purchasing of goods and transactions for the Iraqi dinar.
and the al-Naimi that the change of currency is one of the issues the digital you change the currency in figures only, while the fear and the negative repercussions of which enter into matters of fraud and manipulation by some individuals and traders such as not to deal with and raise prices due to a lack of understanding people have, and the result remains the subject temporarily and can take its course in its treatment by the authorities concerned and competent in this regard.
high prices:
expert said Mahmood Shaker al-Rubaie: that changing the currency would lead to higher prices for goods and services beginning with the change, because this issue is linked to currency deliberative individuals and the market where It does not mean re-structuring of currency or reduce the cash value.
Rubaie said: The problem of the banks on the subject of changing the currency would be restricted to non-deposit of the people their money where, the vast majority does not know the importance of banks and their role in keeping the money and increase, and millions of money are saved within the houses, where the possibility to access the money to the banks is very small it can not be the bank attract capital scale, which can be a negative point in the direction of change of the currency.
He continued that the change of currency has a psychological factor positive, where citizens will feel the high volume of dinar, which increases the purchasing power of that as well that the Iraqi dinar will be of importance and financial value for investors through the stable exchange rate of the dinar against the U.S. dollar, where the expense of equipment and services that can be used on the ground investment is cheaper than creating a favorable investment environment for investment.
and the spring that this issue will exposure at the beginning of the matter to the confusion, stressing the necessity of forming a solid before you start this process to avoid the inflation that occurred in the past when the change currency the central bank should be aware of all the things on this side before taking any step. a gap: Economic said researcher economic Research Center Market Mona al-Musawi: The application of this subject in some countries does not necessarily mean success or the need to do on the ground, this issue includes in it the effects may lies with the currency by purchasing power, where the market can be affected by this process as well as the possibility of a rise in prices, the markets are usually affected by the forces of supply and demand, a gap of economic this matter could lead to an economic problems we do not need at a time when everyone works to raise the standard of living for the citizens. She said Moussaoui: that the issue needs to accuracy and organization before getting any error possible by changing the currency in fact that this issue is a requirement, but not at this time because the application needs to the potential variety of the central bank and the creation of and willingness to accept the citizen and the understanding of the new currency. the stability of the exchange rate of the dollar: A writer and researcher economic gnathion NA: The change currency The service business management and facilitate the transfer of currency from one place to another by changing the mass of cash, either the difference exists between the two currencies is the size and the ease to move either one result, the value will remain unchanged and has no positive or negative impact on the economic reality of the coin, or which scene in prices and is the subject process of reform has and what constitutes the tricks of sight, the salaries and wages will remain unchanged and consistently the same value. He gnathion NA: that the Iraqi dinar is pegged to the U.S. , and that changing the currency would create a state of similarity between them with the stable exchange rate, which increases the fears of investors. He gnathion NA: The economic reality of Iraq over the past change currency was passed in spite of the lack of citizen's awareness of this issue either at the present time, the possibility of its application may be more easily because of the spread financial awareness to the vast majority of citizens as the start of such This topic and its success is directly dependent on the decisions of the Central Bank.
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