Major Reasons Behind Suspended Project Of Zeros Deletion

Major Reasons Behind Suspended Project Of Zeros Deletion

The representative of the Economic Commission said that there are many factors behind stopping the project of deletion of three zeros from the Iraqi dinar currency and the most prominent factor is the economic policy, which caused instability in the country. He also said that not only the Iraqi Central Bank can finalize this important project, but the Iraqi government should support the CBI for implementation of this project. A committee member Nora Albjara said that the Iraqi government has finalized all the major elements that are related to eliminate the three zeros from Iraqi dinar currency. This project is under-discussion since 2013 and it was ready to execute the project according to all mainly required specifications.

A member of the Economic Committee Nora Albjara further added that the shortage of votes on this project by the cabinet caused a major loss of an opportunity in getting financial and economic stability and to overcome the problems of global high prices. Albjara further added that now the execution of this project is in a difficult stage because the political, economic and security instability. Point to be noted that the Iraqi government has launched a fleet of solutions to solve the significant amount of cash problems by issuing the new Iraqi dinar currency of 50,000 categories to absorb inflation. It would also be available in next two months for Iraqi people. This new currency meets all the International standards that is required for a secured currency.

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