Project raise zeros from the currency early in 2015

A member of the parliamentary economy is expected to work the project raise zeros from the currency early in 2015

Sunday, 22  December 2013 07:30

[Baghdad – where]

Expect a member of the Committee on the economy and investment parliamentary Aziz Sharif Mayahi work project raise zeros from the local currency in early 2015.

It is said that the CBI has been teaching for more than two years, the issue of lifting the zeros from the Iraqi currency, but so far has not taken a firm decision in this regard.

He Mayahi told all of Iraq [where] today that “lifting of the zeroes from the local currency does not have a negative impact on the economic situation in the country, adding that” the lack of work project raise zeros currently is the result of preoccupation with the political blocs preparations for the elections of the House of Representatives in 2014. ”

He added that “the project of lifting the zeros from the currency will be through early 2015.

The Council of Ministers decided in its meeting held on 10 April last patient in the application process to delete the zeros from the national currency until further notice.

The Central Bank of Iraq, and on the lips of bank adviser appearance of Mohammed Saleh, hasconfirmed for [where] the need for Iraq to the process of administrative reform of the currency cash, and that the project to delete the zeros is the step comes as part of the country’s need to the process of administrative reform of the currency, in order to reduce the cost of cash transactions in the economic process, in addition to the need to provide small groups of coins used in daily circulation of small transactions.

The officials at the central bank, as well as some politicians and economists, urged the government to delete the zeros from the currency, and the issuance of a new currency denominations large cash, in addition to the presence of small coins.

Observers say that the government intends to delete the zeros from the currency as a step towardsimproving the purchasing power of the Iraqi dinar, is that economists played down the importance of this step, considering that the cost of raising the zeros will be greater than the expected benefit from the lifting of zeros. Ended 2.

alliraqnews.com

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