DELTA » May 10th, 2015, 1:19 pm HELLO FAMILY:
WHEN THEY SAID THAT THEY WILL ISSUE LARGE CASH CATEGORIES THEY ARE TALKING HERE ABOUT A SMALL NOTE WITH HIGH PURCHASING POWER!!!
THEY ARE TELLING US THAT THIS IS AN IMPORTANT STEP ON THE ROAD TO MONETARY REFORM!!! (See Article Below)
DON'T GET CONFUSED BY THIS ARTICLE.
LIKE WE SAID ON CC.. THEY WILL COME OUT WITH A NEW 50 = $.43.
I BROUGHT YOU THIS ARTICLE FROM WHILE BACK ( 2010) IT'S VERY CLEAR THAT IRAQ CAN'T COME OUT WITH 50000 NOTE!!!
The Iraqi Ministry of Finance, Thursday, that the deletion of zeros from the local currency will liberate the Iraqi economy from the constraints and enhance the value of the Iraqi dinar in the International Monetary Fund.
The chancellor said the Iraqi Ministry of Finance Zia Alckheon Kurdistan News Agency (Rn) that “the process of removing three zeroes from the local currency will strengthen Iraq’s economic position in the international community and specifically the International Monetary Fund.”
He added that the “survival of the current currency and the current status would not address the question of the economic gap taking place in the Iraqi dinar as it will increase the burden on the Iraqi economy.”
And that “the process of changing the currency certainly will take time and money, but is required to remove the barrier between the Iraqi economy and the global economy and to give more than the value of the Iraqi dinar.”
In the view of the central bank to raise the three zeroes from the local currency is a complex process and need to be thorough economic study.
He expressed the International Monetary Fund in August last support of the Iraqi economy in the event of having a number of economic measures, including privatization of banks and raise three zeroes from the local currency and to meet debt and compensation is the responsibility of Iraq.
The Iraqi government denied conducting any change in the local currency this year in order to reduce inflation.
The news has recently indicated that the Iraqi government plans to make changes to the local currency, including raising three zeros in order to reduce inflation suffered by the Iraqi market, as well as add the language Kurdish paper currency.
HOPE THIS WILL HELP SOME OF YOU!!! DELTA
ThunderHawk: 5-10-15: Economic adviser Ebadi: Print large cash categories is an important step on the road to monetary reform
Said Advisor to the Prime Minister of Iraq for Economic Affairs, the appearance of Mohammed Saleh, that the draft Print Central Bank of Iraq large cash categories, an important step on the road to monetary reform, which supports the country's economy, pointing to a market need for large denominations, and to handle a very large monetary blocs in Iraq, especially that cash payments outweigh the instruments to deal cards and electronic payments.
He pointed out that the "Print large cash categories project is not about monetary policy but the payments system management, pointing out that this plan will be condensed amounts of money, especially large groups that make up 90 percent of the money supply in circulation."
He explained in a statement that "put these large groups is to put the monthly same amount of money supply in the market but different categories, and not increase the original amount. He ruled out the potential for inflation by the implementation of the project, pointing out that" the central "does not lend the government."
"In the case of lending to the government and the issuance of large cash categories can get inflation in prices, as the country suffered a contraction in liquidity, whether in dollars or dinars with total money supply in Iraq size less than 40 trillion dinars (about US $ 31 billion).
The traders in the currency market fears of a new high amounts of cash currency issue, pointing out that such a measure would lead to the loss of monetary value, as it is imperative that any action aimed at revitalizing economic sectors.