Finance Committee: Ground not suitable to delete zeros from Iraqi currency

Sunday, 16 December 2012 09:50 | | |


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Baghdad (AIN) -MP Majida al-Timimi, member of the Parliamentary Finance Committee ruled out implementation of crossing out the zeros from the Iraqi currency in 2013 because the ground is not prepared yet.

Timimi stated to All Iraq News Agency "The process of deleting zeros from the Iraqi currency in 2013 depends on the nature of the policy of the Central Bank of Iraq's new governor."

She referred that "her committee did not received a letter from the CBI about this proposal or postponing it," pointing out that "The current situation is not prepared to carry out this proposal especially there is fear of replacing the original currency by counterfeit one, thus lead to inflation instead of reducing the currency circulation." /End/

Don't know where the other sites are getting thier info - but all the reputable "news" agencies on-line I go to say NOT ready - NOT suitable. Heres my link: (not to be confused with " aliraq" - one is a newspaper - one a site like DDD)

http://www.alliraqnews.com/en/index.php?option=com_content&view=article&id=24690:finance-committee-ground-not-suitable-to-delete-zeros-from-iraqi-currency-&catid=37:economy&Itemid=41

Here is an article from yesterday ... same person apparently, but this one seems to be indicating they are moving forward ...

Iraq News | Click here for more


Majda Al-Tamimi: ground unprepared to process zeros from currency in 2013


15-12-2012 | (Voice of Iraq)-add comment.

Baghdad-where

Excluded Member of the parliamentary Finance Committee, Magda El-Tamimi, raise zeros from the currency in 2013, adding that "the Earth is ripe for replacement.

Tamimi said the whole Iraq [where], that "raise zeros from the currency in 2013 based on the nature of the new Central Bank policy", adding that "in accordance with the Bank's previous vision should be raised."

She noted that its "missed to date book on Central Bank raise zeros or deferred", drawing attention to the "uninitialized ground to raise zeros from the currency, particularly that there is fear of entering false currency and replace it with the following native currency inflation happens rather than reduce trading".

The Cabinet at its held on 10 April last year wait in the application deleting zeros from the national currency to further notice.

The Iraqi Central Bank, the Bank's adviser said the appearance of Muhammad Salih, affirmed [where] need Iraq to an administrative reform of the currency, and that the deletion of zeros is a part of the country's need to process administrative reform of the currency, in order to reduce the cost of cash transactions in the economic process, in addition to the need to provide money to small categories used in daily circulation of small transactions.

The officials at the Central Bank, as well as some politicians and economists, urging the Government to delete zeros from the currency and issued new currency large cash categories, in addition to the presence of small coins.

Observers say that the Government intended to delete zeros from the currency as a step towards improving the purchasing power of the Iraqi dinar, but economists discounted the importance of this step, considering that the cost of raising the zeros will be greater than the expected benefit from the raise zeros.

http://www.sotaliraq.com/mobile-news.php?id=80689#ixzz2FAVOsIHN