Economist calls for the removal of zeros from currency

Economist calls for the removal of zeros from currency


Posted 14/12/2013 05:07 PM

Called for an economist to delete three zeros from the Iraqi currency, the promise of its existence as a successor to serious damage in the operations count amounts of cash huge.

said economic expert, a member of the Finance and Banking at the University of Wasit Abdul-Karim al-Tai told the National Iraqi News Agency: “The zeros present in the Iraqi currency has a negative impact on operations count amounts of cash huge lead to fall into mistakes while conducting census by the staff of the Ministry of Planning.

“He said:” The Ministry of Finance issued figures contrary to issued by the Ministry of Planning and the Central Bank, which leads to Inflation figures in the currency, in addition to the limited possibilities for staff statistics, this would make the database is not realistic and is making wrong decisions on them. “
And he saw: “The most important positive effects that Steksha process of deletion of zeros is to reduce assets in banks as well as to give the impression of a campaign such amounts as valuable and thus lower prices of goods and services provided.”

and said the central bank in August plans to delete the zeros from the Iraqi dinar to facilitate financial transactions in an economy dominated by the oil sector and made ​​the transaction through cash often. since last year waiting for a restructuring plan dinar to supply the market with more liquidity parliamentary approval.
announced a statement of the General Secretariat of the Council of Ministers, the Council decided to stay the proceedings all related to the process of deletion of zeros from dinar until further notice.

http://www.almashriqnews.com/inp/view.asp?ID=58204