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Thread: central to defend delete zeros from the currency

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    Lightbulb central to defend delete zeros from the currency

    Will not change the purchasing power of the citizen - central to defend delete zeros from the currency and prepared by a progressive policy adviser to Maliki, and see in vain

    2/22/2010 5:20:55 PM

    Iraq Constitution

    Defended the Iraqi Central Bank on monetary policy aimed to pull inflation by deleting zeros from the currency in front of his critics as a policy of "progressive" long-term, most critics regarded as a unit, which the Economic Adviser to the Prime Minister "in vain" would cost the budget a lot to no avail real. This is because the central bank adviser the appearance of Mohammed Saleh economic policy the central bank to pull cash from the local market to "inflation suffered by the money supply, which rose from 25 billion dinars in 1980 to 23 trillion dinars, now it is important to reduce" noting that the process of removing the zeros is the "long-term policy adopted by the Iraqi government and the central bank, which will direct the project as soon as the development of the Iraqi economy and this may be this year or next and will probably require a longer time, depending mainly on the stability for the operation. "Saleh added that" there is no need to rush the process at this time but at the same time is required because the subject of reform will not change the value of the currency, but anything to make them smaller, "stressing that Iraq" During the next few years and applied to the new development plan will raise its oil production and resources will increase significantly and we therefore need a strong currency and low at the same time and easy to handle. "Alontkadt and about being sent to the Central Bank because of his announcement to change the currency, Saleh said he viewed the economic future of Iraq" in an optimistic either the failures of the present and the situation is stable, it is something that will not last forever, but the situation is constantly improving, "adding that the central ideas of" progressive experience reactionary ideas you want to return Iraq to the thirty years ago. "criticize the economic adviser to Prime Minister Abdel Hussein, the Iraqi Central Anbuge vision of the nature of inflation in Iraq, and regards as" a misconception of the nature of inflation in Iraq, which he considers the central result of the increased money supply, which is directly linked to the force purchasing power of currency per capita income and the ability to acquire goods and services ", wondering if the" Delete zeros will increase the purchasing power of the citizen? Is the zeros are the trapping of this increase? ". He said this action" could have come from a luxury, not economic for a country filled with economic problems, her first and do not have another, go to solutions, paper and fake "and that the deletion event scheduled, it" will leave little impact onset where there will be a cash they would not get improved standard of living and thus begin to calculate the new rates of inflation. "The solution of the problem of inflation Ferry Anbuge It must come from "The fact that inflation Iraqi boat comes because of the high costs and the existence of the needs of unsaturated and structural imbalance" is passed through the "operation and investment and rebuilding of structures destroyed and production management is reflected positively on the standard of living of the individual, either to be deleted is the futility of the zeroes budget would cost too much and not justified the time being. "stresses businessman Jassim Al-Aradi the importance of" non-launch the process of deleting zeros from the currency only after clarifying the concept and its way through the media extensively to educate citizens about the rules and deletions to prevent exploitation by some black market operations due to lack of awareness, "adding that the operation" will not change the per capita purchasing power will not affect the general situation in Iraq. "Aradi and hit the ideals of" the Turkish experience in the deletion of zeros, which came after the country experienced economic crises, followed by a boom became looking for the strengthening of its currency, especially after the desire to enter the European Union, "adding that the operation in Iraq" needs to develop a more stable economy than it is now. "As for how it sees the entire process of deletion Aradi noted that it" is being gradually by injecting a certain amount of criticism is be the category of dinars, equivalent to one thousand dinars to declare clearly that it will not be higher-value, or less than one thousand dinars to the Atstgl on the black market because of the ignorance of citizens so "in addition to that the deletions" are within a few years to withdraw the same amount that was issued but of the new currency to be changed completely, "a process" slow and gradual, not like change the currency because we're not going to issue a new but just delete the zeros only. "

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    Re: central to defend delete zeros from the currency

    Good post, thanks.

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