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Central bank: fears Iraq and other countries because of the deletion of zeros legitimate

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Central bank: fears Iraq and other countries because of the deletion of zeros legitimate
29/09/2012 11:06:11
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Iraq (Iba) - The deputy governor of the Central Bank of Iraq the appearance of Mohammed Saleh, said that the fears that haunt Iraq because of the deletion of zeros are legitimate concerns and felt by other countries, adding that Nigeria, for example, recently suspended the project to delete the zeros due to fears of the implications.

Saleh said to Radio Free Iraq on Friday, that the deletion of zeros is not the desire of the bank, but the desire of the Iraqi society, and that this project will be of value unless it received political support.

Regarding directed the CBI to move forward towards the process of replacing the Iraqi currency and delete the zeros, criticized the Economic Committee in the House of Representatives what it called Baltbtat in monetary policy adopted by the Central Bank of Iraq.

Said committee member Hussein Mura'bi, that the Economic Commission feel great concern about this Altaktabat particularly in the area of ​​foreign exchange, and the price difference to buy between the central bank and the black market, noting that led to the emergence of currency traders senior exploited the situation to reap annual profits of up to $ 8 billion .

Added Mura'bi, that the government was not possess sufficient information about the project to delete the zeros adopted by the Central Bank, based on the Law No. 54 of 2004, while the House of Representatives is constitutionally interested party considering that the deletion of zeros is a change of currency from a legal standpoint. (End)


http://ipairaq.com/index.php?name=inner&t=economy&id=60518

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