The Central Bank accused government authorities of blocking the country’s monetary policy

The Central Bank accused government authorities of blocking the country’s monetary policy

The parliamentary Finance Committee, attributed on Saturday, due to delayed delete zeros to hard currency control and individual decision-making, with a roughly 35 trillion dinar traded on markets, stressed the importance of the project to delete the zeros of the Iraqi institutions and citizens.

The Chairman of the Committee, said Haidar Al-Abadi told the press n ‘ Government has no confidence on the ability of the Central Bank on the currency at this time without problems, pointing out that ‘ there is a fear of lack of control over currency damaged while deleting zeros ‘.

Al-Ibadi said that ‘ bad currency could go out again and replaced by the new currency during the switch so it will print its free cash becomes more of a reality ‘, adding that ‘supposed Central Bank currency damage divided as soon as they are received from the banks.

Abbadi stressed in sumaria news agency that ‘ the process of replacing the currency in large monetary market is difficult, although the Bank had presented a plan to replace a two-year ‘, pointing out that ‘ the amount of cash in the market and are traded currently at 34 to 35 trillion dinars ‘.

He concluded that ‘ individual decisions taken by the Central Bank out of the Government and Parliament on the switch and delete the zeros were another reason for postponing the deletion of zeros so that any problems that might occur while delete zeros and the changeover it suffers the whole Iraqi economy ‘, ‘ no delete zeros from the currency and replacement at this time with the upcoming parliamentary elections.

Abbadi stressed the importance of the project to delete zeros for Iraqi institutions and citizens of some deputies and accountants who make mistakes in the numbers because the zeros that are sometimes serious ‘, arguing that ‘ delete the zeros of the positive things to simplify accounts and trading among the people, adding that the new currency might evolve more in print and is difficult to falsify.

He is a member of the parliamentary Economic Commission, Hossein almerapi (September 23, 2012), the flop in monetary policy made the country lose eight million dollars per year, while warning that the deletion of zeros will make it easier for mafia money laundering stolen billions without feeling State, invited to study its impact on the overall situation.

The Central Bank, accused (12 September 2011), the Government of blocking the monetary reform and vowed to prosecute those responsible, putting the country’s interests for finances.

The Prime Minister’s Advisor for Economic Affairs Abdul Hussain anbaki, on (25 August 2011), to lift the zeroes from the currency is the biggest corruption in Iraq if during this period, under the title tinker, warning of ‘ mafias ‘ prepares for currency forgery trillion Iraqi dinars to replace the light changes.

Some economists believe that Iraq is now prepared to delete the zeros of the Iraqi dinar, stating that deletion requires political and security stability as well as the stability of the economy.

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