Parts of the draft brought the dinar will cause the country to lose billions of dollars annually to raise zeros currency should be given opportunity to restore power in global markets
Posted: August 13, 2013 in Iraqi Dinar/Politics
Tags: Central bank, Chapter VII, Chapter VII of the United Nations Charter, Currency, Economy of Iraq, Iraq, iraqi, Iraqi dinar
The lifting of international sanctions on Iraq Government before a historic opportunity to increase the value of the dinar to the highest levels against foreign currencies, by approving a Bill eliminated currency and which will reduce the size of the money supply and restore confidence to global oil balance added to Golden balance in international banks and successive political conflicts and contributed to the crisis, the Central Bank to delay passing the draft eliminated currency that it was hoped that during the current year, after completion of all project actions, this delay will cause loss of billions of dollars Iraq Each year, the Student Council Presidency Ministers earlier the Central Bank to wait to delete the three zeros from the local currency, as a major project, and requires sufficient time to apply.
A member of the parliamentary Finance Committee, Abdul Hussein Al-yasiri: lifting UN sanctions on Iraq by opportunity to restore Iraqi dinar for strength and power on the global market, close to previous purchasing value It was more than three times the us $, and descended from the imposition of sanctions under Chapter VII and printed the previous system of poor currency. Indicating that the termination of the international sanctions and a new currency that would restore the previous value of the Iraqi dinar. He said Al-yasiri told (Badr): possible qualitative leap in price and value of the dinar in the world trading markets to possess all the ingredients for recovery provided that strengthen confidence of the deal, through the adoption of currency brought to international companies to print currency put secret markings to prevent forgery, and this case will boom in the dinar, will rise in value then gradually to peak during the period.
Al-yasseri said: the country’s exit from Chapter VII on the political side, contributed to the liberation of Iraq will on the economic side, give Iraq much room on important issues including banking, on Iraqi and foreign currency trading, as well as investment in Iraq has not been able to attract investment during the previous period, which was the fear of Iraq being located in the enormous chapter ElsaAfter the withdrawal of the country’s sovereignty and independence, and shackled him in all respects, and in particular the economic aspect.
According: out of UN sanctions entail the recovery of the Iraqi economy, political possibility government ownership to invest and hire in all areas of development and construction, agriculture, tourism and industry, and if Iraq’s work in this area and allowed the private sector to turn the Iraq economy will flourish, and if this situation occurred, the Iraqi currency would take the space required and will regain its former glory,It will support Iraqi currency by selling dollars in Iraqi dinars by Central Bank auction, which directly affects, to the forces of supply and demand on the market mechanism determine prices Iraqi dinar to the dollar, and economists consider it a commodity and commodity determined capacity of supply and demand. He noted: the most important step in restoring Iraqi dinar for measuring political agreement to end the stranglehold of the country, which will contribute to the strengthening of the security and the value of the Iraqi economy, and works to attract investment and foreign companies in the country, with enormous financial budget for this year (157) trillion dinars would contribute to strengthening the power of the dinar buy ‘erVisor.
He is a member of the parliamentary Finance Committee: that the procedures be adopted to increase the value of the dinar currency, requires the Government to pay tribute to all sectors of production and investment to support the local currency, in line with the movement of the currency brought to achieve financial abundance of production sectors and investment will strengthen the Treasury cash, alternatives to Iraq exports other than rent profit accruing from oil exports, and put it under the Golden balance in global banks.
Defer reset the dinar project will cause the loss of the country billions of dollars annually raise zeros currency be established before the opportunity to restore its influence in global markets
Puts the lifting of international sanctions on Iraq, the government in front of a historic opportunity to raise the value of the dinar to its highest level against foreign currencies, through the adoption of a bill reset currency, which will contribute to reducing the size of the money supply and restore confidence in the world where, because of the oil asset added to the balance of the Golden international banks.
And contributed to conflicts successive political and the crisis of the central bank to postpone pass a reset on the currency, which it was hoped to pass during the current year after completion of all actions related to the project, and the delay will cause the loss of Iraq to billions of dollars annually, while the Council demanded that the prime minister earlier in the central bank to wait a draft deleted three zeros from the local currency, as a big project, and it needs enough time to implement it.
A member of the Finance Committee, the parliamentary Abdul Hussein al-Yasiri: lifting of international sanctions on Iraq put it in front of the opportunity to restore the Iraqi dinar to its strength and سطوته on the global market, including almost worth purchasing the former, which was more than three times the U.S. dollar, and descended by the imposition of sanctions, Chapter VII and printed the previous regime for the currency bad . Noting: that the end of the work of international sanctions and the existence of a new currency that will restore the Iraqi dinar to its previous value.
He Yasiri told (Badr): possible to achieve a qualitative leap in the price of the dinar and its value in the trading markets global possesses all the ingredients to recover provided to strengthen the confidence of dealing it, through a reset on the currency and the adoption of international companies specialized print currency put the signs secret to prevent forgery, and this the situation will contribute to a great boom in the price of the dinar, and its value will rise gradually after reaching its peak during the period of a few. The Yasiri: The exit of the country from Chapter VII in the political side, contributed to the editing will Iraq and the economic side, giving Iraq’s plenty of room in the important issues at the forefront of the banking industry and the Iraqi currency and foreign trade, as well as investment, where he could not Iraq that attracts investment companies During the previous period, and which was Taathab from working in Iraq as being located within Chapter VII, which pull the country’s sovereignty, independence and كبله in all respects, particularly the economic side.
He reported: Out of the international sanctions consequent recovery of the Iraqi economy, to possess the government the possibility of political that the investment and hiring in all areas of development and reconstruction, agriculture, tourism, industry, and if the work of Iraq in this area and allowed the private sector to play its role Vcentash Iraq’s economy, and if this condition occurs the Iraqi currency will take the space required and will regain its former glory, adding that the Iraqi currency will be achieved her support through the sale of dollar Iraqi dinar by central bank auction, which has a direct impact, because the forces of supply and demand works on the mechanism of the market set the price of the Iraqi dinar in dollars, Economists consider good and commodity value is determined capacity supply and demand. He pointed out: that the most important step in the restoration of the Iraqi dinar to power agreement the leaders of the political blocs to end the crisis suffocating experienced by the country, which will contribute to enhancing the security aspect, which will raise the value of the Iraqi economy, and works to attract investment and foreign companies to the country, as the budget This huge financial year, which amounts to 157 trillion dinars that will contribute to the strengthening of the purchasing power of the Iraqi dinar.
A member of the Finance Committee representative: The procedures to be adopted to raise the value of the dinar against the major currencies, require that revives the government all sectors of production and investment to support the local currency, in line with the move reset currency, since that achieving abundance financial sectors of production and investment will strengthen stockpiling cash, finding Alternatives to Iraq’s exports except rentier profits earned from oil exports, and the ability to be placed within the golden balance in global banks.