Expert: the opportunity is favorable for the deletion of zeros from the currency
Sun 08/04/2012 9:03
Baghdad / term: Economic analyst warned Ibrahim al-Mashhadani, the implementation of the project to delete the three zeroes from the currency early next year, as it is an important project needs to be political and economic stability in the country more when applied.
He said al-Mashhadani, according to the Agency (news): The time set by the Central Bank for the implementation of the project to delete the three zeroes from the Iraqi currency and due early next year is not ideal and needs to rethink it, because it is an important project and sensitive and can not be passed through a period of time a few, he needs to more time to study it in detail and find out pros and cons to avoid economic problems may occur because of it.
Read More Link on Right
He said al-Mashhadani: that the project needs to stabilize the economic and political more before its implementation, and these two factors are not available at this time as a result of the exceptional circumstances experienced by the country, although it is important in terms of reduce the money supply that are exposed to cases of fraud are many and difficult handling, pointing out that the countries that fought that experience had enjoyed stable economic and political in their own countries such as Turkey, which had been deleted (6) zeros from its currency.
Deputy Governor of the Central Bank of the appearance of Mohammed Saleh: The project to delete the three zeroes of the Iraqi currency does not need to legislate a new law but needs to issue a regulation to serve as instructions as stipulated by the Central Bank Law.
Saleh added in an earlier statement (of the Agency news): The Central Bank Law gave the full power of the monetary authority to change the structure of the Iraqi currency or Delete the zeros of them, and the executive and legislative branches familiar with it, adding that the project needs to be regulation as instructions are published in the Official Gazette, and the Central Bank is in the process configured.