Parliamentary Finance attributes the reason to postpone the deletion of zeros to the difficulty of controlling the currency
Posted on December 21, 2013 by kdorman
12-21-13 Baghdad – and babysit – attributed the parliamentary Finance Committee, the reason for the postponement of the deletion of zeros to the difficulty of controlling the currency and take individual decisions, and as pointed out the existence of nearly 35 trillion dinars in circulation in the market, emphasized the importance of the project to delete the zeros for the Iraqi institutions and citizens.
Committee Chairman Haider al-Abadi in a press statement on Saturday, “The government does not have confidence about the ability of the central bank on the currency exchange at the moment without any problems,” noting that “there is a fear of lack of control over the currency damaged during the deletion of zeros.”
He Abadi that “currency damaged it is possible to go out again and replaced by the new currency during the process of switching and thus will be printed currency for free and become the cash more than the truth,” adding that “it is assumed that the central bank will destroy the currency shattered soon as they are received from the banks.”
The Abadi said that “the process of replacing the currency in light of criticism big in the market is considered tough despite the fact that the bank has submitted a plan to replace it for two years,” pointing out that “the amount of cash in the markets that are traded currently amounting to 34 to 35 trillion dinars.”
He continued Abadi that “individual decisions taken by the central bank away from the post the government and parliament on switch and the deletion of zeros was another reason to postpone the deletion of zeros and so any problem that may occur during the deletion of zeros and the currency exchange, it would be hurt the Iraqi economy as a whole,” unlikely “to occur any deleting the zeros of the currency and replaced at this time with the upcoming parliamentary elections near. ”
He stressed Abadi on the importance of “the project to delete the zeros for the Iraqi institutions and even citizens to the presence of some MPs and accountants who make mistakes in the figures because of these zeros, which are sometimes serious,” adding that “the deletion of zeros from the positive things to facilitate the process of accounts and the trading process between people, in addition to The new currency is possible to evolve more in print and in a form that is difficult to counterfeit, “… p / i