Economists: The 100 thousand dinar note will not benefit the Iraqi economy

[Jwdwrd]

Economists: The 100 thousand dinar note will not benefit the Iraqi economy

December 22, 2010

Currency Newshound Commentary: The following article offers a different opinion on the 100 thousand dinar article published earlier this week LINK. These economists share an opinion similar to many of ours….bring out smaller denominations.

This day of network news (HNN) – Economists believe the Iraqi province of Kurdistan, said the issuance of currency from 100-thousand Iraqi dinars, will be in the interest of the country’s economy, the trading will not end U.S. dollar in business transactions, but will increase the chances of corruption.

It was an economic advisor at the CBI, the appearance of Mohammed, has recently announced that “the central bank intends to issue a currency of class 100 000 Dnyar, in order to encourage citizens to deal in the currency of Iraq, they are dealing in U.S. dollars more than their dealings in the local currency, due to ease of handling by compared to the currency of the country. “

The economist said Aram Ahmed, a Kurdish news agency (Rn) that “the policy of Central Bank of Iraq is not successful, and the issuance of currency from a 100 thousand dinars will not add anything to the country’s economy, it is better for the central bank pumping in small denominations of currency as a group JD 50 and less to the market, and cut the road to higher prices, which offered Iraq to price inflation. “

Ahmed said he was “not able to the central bank to prevent trading in the currency of the U.S. dollar, as it did not Taatkmen two States, China and Japan to pursue this policy,” noting that “all that there is an interest of some people in the central bank and behind the subject, but do not have any economic benefit of the country, and the financial revenues of Iraq come from petro-dollar funds, so the issuance of currency, the 100 thousand Dnyar will cause an increase opportunities for corruption. “

A member of the Syndicate of Economists of Kurdistan, north-Nouri, L (Rn) that “the issuance of currency or else a 100 thousand dinars, will hurt the Iraqi economy, because the Iraqi market is suffering from inflation already,” adding that the aim of issuing this category of the currency, rather than strengthening the economy the country, but corruption and take advantage of some persons, of the contracts to be concluded to print that category, with private companies in this area. “

The Nuri said, “Iraqi currency from the two categories of 25 010 had caused inflation, while there is talk of issuing 100,000 as well,” pointing out that “the citizens expect the government to tackle inflation and not further escalation.”

http://wp.me/pZC7o-3Ub

[coopschick]

I didn't realize theat the Iraqi people used our currency in their country....interesting

[Jwdwrd]

Don't ask me?! LOL - wouldnt you- theirs aint worth anything! LOL