World Bank took its time 2/28/2010
Senior Economist Invites the World Bank took its time in the Central project to raise zeros from Iraqi dinar
SUNDAY, FEBRUARY 28TH, 2010 20:07 DIRECTOR
Baghdad \ Iraqi files: called economic expert, Dr. Peace Smeisim CBI to wait to raise his three zeros from Iraqi dinar in order to prevent the occurrence of the illusion in cash between the nominal value and its purchasing power, which affects the state employees with limited income.
Smeisim said candidate for the Iraqi National List coalition, said the news issued by the U.S. media speculation about the Iraqi dinar in international stock markets, by more than 40% by 3 months Mthleeladtha means of information leaked to the stock exchanges through American circles the existence of a quantum leap in the Iraqi economy During the next few months, especially after the signing of the licensing contracts, oil, and assurances of international oil companies on the possibility of raising Iraq's oil exports in less than a year to around 4 million barrels per day
She added that Dr. Smeisim All these facts compel the CBI not to draw from Iraq's cash deposits to cover the value of the exchange rate of the equivalent of the U.S. dollar at the auctions held by the bank in order to stabilize the exchange rate and a transition to achieve the price I buy the Iraqi dinar by foreign banks was worth Indeed, under the future developments and not the opposite to sacrifice the central bank Bodaiah for the effective nominal value only of the Iraqi dinar, including sign Moezkin dangerous state in the first exchange and cash deposits Iraq policies are still not able to achieve value for money of the dinar over the nominal value, and the second danger recruiting process for the purposes of election apart from a purely legislative branch the power to control Iraq's next parliament, which need to be approved on the origin and utility of economic purchasing power of Iraqis, not the motives of investment meant more than the rich and the poor poorer
, Indicating that the bank purports to do Almkzi delete zeros on the value of the dinar to deliver the nominal value of Adel Dinra one Iraqi American dollars, while not able to make the Iraqi dinar equivalent value for money provided by the dollar in the United States or in any of the neighboring countries, for example, the purchase of any goods or medical services or services such as electricity, water, fuel, etc., in the neighboring countries to buy the dollar value of "x" of gasoline, but what the Iraqi dinar achieved after the lifting of the zeroes be "nominal value - SS", estimated by economists by one third of the real value of currency , ie, that the currency would lose a third of its real value and will pay the price, fixed-income earners and creditors and sales transactions on credit, this does not work for sustainable development in the country, which will reflect negatively on the ability of low-income access to the purchasing power of the Iraqi dinar and the value of the emoluments much less than the value of the figure paid to the fact that the Iraqi dinar will not achieve the required purchasing power and this is what academics call it the "monetary illusion"
Dr. Smeisim stressed that waiting for positive economic developments during the year and perhaps to the middle of next year, the economy would be stronger Iraqi dinar to the dollar to offset the normal condition in the market speculation, the role of the CBI case of regulatory seize these positive developments only on what she said.
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