Abadi adviser to the economy: the removal of zeros from the currency requires a stable security and economic

by **Ponee** Mon Dec 22, 2014 3:21 pm

BAGHDAD / .. Prime Minister for Economic Affairs Adviser stressed the appearance of Mohammed Saleh, on Monday, that the removal of zeros from the Iraqi currency at the present time requires security and economic stability, referring to the current crisis in Iraq Garmlaúma for this step.

Saleh said in a statement singled out the "eye of Iraq News," The removal of the zeros project aimed at reducing its computational system monetary values without any intervention of wealth and would remove the zeros from the accounts of the Republic of Iraq completely, "pointing out that the foot on this project requires economically stable and security, political high level. "

Rejected in favor of support for any Tgieraly currency at the moment, adding, "I do not support any change in the currency, but after one year or more until there is a liberation of all the provinces of Iraq organization Daash addition to the improved level of oil prices where regain the economic wellbeing."

Noteworthy that the Iraqi Central Bank announced in November of this year, the end of that "countries with economies dependent on oil, such as Iraq, the net foreign assets of any foreign currency derived from the sale of oil is a mainstay cash basis it because it relies on oil to finance its spending and in great. "

The bank said in a statement that "the Iraqi government,

specifically the Ministry of Finance are replacing foreign currency (dollar) that you earn from the sale of oil with the Central Bank of Iraq for the local currency (the dinar), to be able to cover internal expenses, so the foreign reserve resources growth ( Dollar) when the government consists of increasing the prices and quantities of oil sold. "

The bank said that "this will enable and continuously available from barter with the central bank for the local currency (the dinar), and in quantities that you need, but with the drop in oil prices, the oil revenues certainly would be affected would be reflected on the low cash reserves at the central bank."

On the other hand, stressed the Central Bank of Iraq, that "the subject of the deletion of zeros from the currency has been postponed for the time being" .anthy / 5