CBI: Currency in state of deconstruction; Requires acceleration of dropping zeros[

CBI: Currency in state of deconstruction; Requires acceleration of dropping zeros

All zero phase in the currency in the destruction of the economy

Date: May 29, 2012

Central Bank of Iraq said that every zero in the Iraqi currency is a stage in the destruction of the Iraqi economy, and that the removal of zeros from the currency and a national duty.

The deputy governor of the Bank, the appearance of Mohammed, in a press statement yesterday, said that the Iraqi currency re prestige to what it was before the Iran-Iraq war and a national duty, we have to be met through the implementation of the project to delete the zeros.

He stated that Iraq is trading locally four billion banknotes in different categories, regardless of value, offset 34 trillion dinars cash reserves, will double to about 90 trillion dinars in 2017, to increase the national product, and said: This requires us to accelerate the implementation of the project to delete the zeros, before of evil consequences.

He added that the cost of switching the currency is a quarter of its value the truth, they bear a strong cover of 63 billion dollars.

The new benefit of his call to form a committee and the legislation a special law on the consequences and requirements to change the currency, that the Committee shall be the competent authorities, Kdioan financial control, parliamentary committees, and the Federation of Accountants, as well as civil society organizations, and others, to decide the fate of the project.

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CBI: All parties favor dropping zeros; Need approval from GOI and House to be complete success

Deputy Governor of the Central Bank: an integrated draft delete zeros incorrectly interception by questioning

Baghdad (newsletter) … Deputy Central Bank Governor Mohammad Saleh appearance, the Bank ready to start deleting three zeros from the currency, noting that the objection that mere suspicions are incorrect.

He said Saleh (News Agency news) Monday: an integrated project and all those involved in Government favor no one against it, which objected to this project is skeptical about the ability of the Central Bank.

He said that the Central Bank would be ready to implement resolution without hesitation if the Government so decided, that he will block large cash and annoying and this is what the Iraqi people expect him to achieve progress and freedom and prosperity.

He said that the draft delete zeros need approval from the Government and the House of success.

The Central Bank of Iraq was announced (September 29, 2011) to 2013 will delete the zeros and the currency changeover, which warned officials and economists because of its work preparing for faking maviat trillion Iraqi dinars in light of upcoming changes for a replacement.

With the Central Bank of Iraq accused the Government of obstructing the monetary reform and vowed to prosecute because it shows the financial interests of the country risk.
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very good post and tyvm....

CBI introduces new steps to raise IQD to the USD; Proceed with dropping of the zeros

05/29/2012

Central Bank announced new steps that will raise the value of Iraqi dinar against the dollar.

The deputy governor of the Central Bank of the appearance of Mohammed in a statement to the reporter (JD) that the central bank began to implement a new strategic equation will come out even where the dinar and the dollar if it is available the appropriate atmosphere.

Saleh added that the new strategy will work to increase the capacity of the Iraqi dinar as a step in the way of reform of the financial system in Iraq and stimulate the economy, and then proceed with a project to delete the zeros of the exit equation equal to the Iraqi dinar with the dollar and this requires the availability of several factors Kalnhod the agricultural sector, industrial and services sector and investment.

He said the current situation cause for optimism about the future of the economy and the value of the currency and its purchasing power.
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