Monday, 09-04-2012After that made the Government hostage other currencies Bremer: Delete the zeros of the Iraqi currency would return to value?
The Government contributed to the Bremer low purchasing power of the Iraqi dinar after the US invasion of Iraq 2003 compared with what happened with Kuwait after the invasion the Kuwaiti currency remained confrontational conservative worth purchasing, and collapse under the application of the principle of the international commitment towards Kuwait depending on storage oil do not amount to Iraq possesses substantial economic resources, after having left Government Bremer Iraqi dinar recovering automatically depending on what belongs to the Iraqi Central Bank and the stock to the new policy pursued by the system Currency management. The shift from large to small coins currency to get rid of sagging cash inside the country.
Non-systematic policies
Sabri Mohamed Jaafar Taleb believes graduate school of management and Economics University of Mesopotamia that economic policies informed by others that the previous regime had been left a heavy burden on the economic reconstruction of Iraq, Sabri said that disposal needs serious pause from solid economic policy is in the nominal value of the Iraqi dinar. And get rid of dependency to other currencies after the Coalition Atlantic deliberate economic policy making Iraqi dinar as long as possible away from foreign banks and banking institutions to keep weak outer circulation away.
Advance planning
The company will prepare Abdullah believes banking evolution in the world of sophisticated economic systems, based on the country's economic policy review some current policies in the country to keep abreast of what is going on in the world for the advancement of Iraqi economic realities and raise the value of the Iraqi dinar and continued as before, Abdullah Iraqi delete zeros from currency pre-planning argue and creating economic ground in time and time fitting that would guarantee the right of everyone, without harm, noting at the same time We must not look back and what happened in the 1990s
While his cute cars gallery owner shuwaili delete zeros from my point of view is not resolved at the moment and I think that this process becomes necessary when the economy is in a stable condition fully accompanied by sustained growth and continued this process contributes to shuwaili understand citizen's monetary figures, let alone reduce the existing monetary blocs heed many pregnancies in markets and business dealings and probably exposed to danger because of her pregnancy, referring to reluctance by filing in banks that have spread recently what happened Major thefts from inside these banks, therefore a small currency had become necessary, provided the appropriate ground.
The fear of poverty
In the same context of us currency, bank officer Samir drafted Brook errors by 1.3% from the count and sort the given the prevalence of counterfeit currency into the country, she also found expensive and tedious process of input and output of banking and most banks additional value add in banking transactions.
Therefore I delete zeros from the currency as its positive aspects, offset by negative aspects because they are subject to psychological factors and satisfaction for a currency with a high exchange rate only if outside or inside the country and noted Samir may accompany the deletion process probably negative aspects affected owners of high salaries and their poverty and this reduces consumer value and purchasing power multiplied by, for example, that staff member Phu salary (1,000,000) and when deleted it (100,000) will lead to frustration perhaps this amount from the point of view Cannot meet their needs. So I find the deletion of zeros is not only with all processes of market transactions in supply and demand and control the goods involved and monitor merchants in order to balance the deletion with what is going on within the Iraqi market compatibility with various policies and development plans.
A national decision
The Central Bank's Adviser Mohamed Saleh confirmed appearance in earlier press statements on the importance of that law to delete the zeros with the consent of the Government and the Council of representatives of Iraq because it concerns the national economy, pointing out that many developed countries resorted to this resolution to reduce inflation rates and reducing excess liquidity as Iraq suffers from slouch money supply, noting that the Bank's Board of Directors ratified the decision to delete the zeros after the finished coin designs carrying Iraqi heritage and history and civilizations, Well discussed by financial and Economic Committee in the Council of Ministers, stating that the Bank pending Board approval to begin replacing the new currency and which must be with the new financial year and proposed by the Bank with the beginning of the year 2013.
Saleh said that the process of replacing the currency will take two full to prevent any imbalance in the handover process, explaining that banks will continue to receive the old currency for 10 years as rights and not negotiable.
Find an alternative to oil
Economist Hashem alhabobi said that the process of drawing the path correctly and systematically to the Iraqi economy must coincide with radical solutions to the current political situation political and security stability is very important factor in the process of economic construction, which is not without strategic plans and close range characterized by realism and reliance on what human potential available harness to access desired goal of achieving economic well-being of Iraqi citizen, continued alhabobi I find it to promote agricultural and industrial realities which are tributaries are important in economic development and not rely Oil budget financing and economic policy-making must provide alternative which can create some kind of balance in the construction process that noting the deletion process to be implemented by the Central Bank of Iraq found as a first step towards achieving the objective and purpose of its Iraqi society
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