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Parliamentary Finance for "Zora": the new currency are easy to come .. and will cover part of the budget deficit

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Parliamentary Finance for "Zora": the new currency are easy to come .. and will cover part of the budget deficit





17/11/2015

Zora / Duraid Salman

met with the issuance of paper 50 thousand dinars, mixed reaction, between welcome them as a "right step" ease the burden of carrying currency and dependence on the dollar, and between he described as a negative action reduces the prestige of the national currency and increase inflation. There is a big problem facing the citizens in dealing with the rise in the value of goods and services, at a time that began category 250 dinars, the lowest category lose its importance, the need arose for the categories of cash biggest, but that, according to, specialists, will have a hefty price tag would confuse financial policy Iraq, which suffers from economic downturn Kber.oukal decision of the parliamentary finance committee Ahmed Haji Rashid in an interview for "Zora": that each new version, and the public goods and private, indicating that it stimulates citizens to the acquisition of this class, explaining: that the Iraqi currency was less does not equal foreign currency, because the largest Iraqi category was 25 thousand dinars. Rashid said: that the issuance of such currency will stimulate Iraqi citizen on the acquisition instead of hard currency, stressing that the new large cash currency issue would part of the deficit in Almoisnh.utaba Rashid cover: that the project to delete the zeros can not proceed at the present time with stalemate The recession, which is going through the economy Alaraca.omn part, explained the Finance Committee member Majida al-Tamimi: that coin 50 thousand dinars monetary and currency issuance of 100 thousand dinars a class that will be issued later will carry easier by the citizen, indicating that the issuance of such currency has no effect on the the market as far as its impact on the money supply. Confirmed Tamimi: You can not start by deleting the zeros at the present time in light of the current political and administrative environment, indicating that the deletion of zeros need technology to control and things can not state provided at the present time not in terms of technology and in terms of integrity that has become a phenomenon that can not be controlled . The economic expert on behalf of Jamil Antoine it sees, that dealing in Iraqi currency instead of the dollar is a kind of Iraqi sovereignty, adding that most of the large transactions and deals are currently being handled by the dollar. He explained Antoine: The version of this category are deferred step, which is part of the project to delete the zeros through printed three major categories of 50 thousand and 100 thousand and 200 thousand dinars, compared to the withdrawal of small cash currency as a result of winning the country's inflation, noting that large cash currency issuance will enable reduce bank charges and deal a market instead of Atar.omn his part, said the former economist at the Central Bank of Iraq on behalf of Abdul Hadi: The version of 50 thousand dinars category will not contribute to market stability, especially price index of the market and inflation, pointing to the existence of changes in the data economies on the ground and contraction of the Iraqi economic reality. He adds Abdul Hadi: that this category of cash would raise imposed on a bank in the management and organization of the currency operating costs, excluding obtain desired results to facilitate transactions. Abdul Hadi indicates that the monetary category currently in circulation, amounting to 25 thousand dinars are sufficient to deal them through individual and corporate transactions, while the big deals are covered through the dollar. The Iraqi Central Bank announced on Wednesday (November 11, 2015), issued a new banknote category fifty thousand dinars, attributing this to the completion of the Iraqi banknotes structure and the development of high value in the trading category. The Central Bank of Iraq announced in 2013 its intention to issue new editions of the categories of the 50 thousand dinars and 100 thousand dinars.



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