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Is it time to delete three zeros from the currency?

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rocky
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Is it time to delete three zeros from the currency?

Post by rocky on Tue 03 Apr 2018, 3:52 am

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2018/04/03 11:16


(Encyclopedia of this day , news | [You must be registered and logged in to see this link.] ) -
Economy News Baghdad:


The central bank submitted a project to delete three zeros of the currency, in order to confront inflation and stimulate the economy, but was forced to stop because of the deteriorating security and political situation in the country.



The governor of the Central Bank, Ali Alallak, in a discussion session with the editors of a number of Iraqi media, including "Economy News", "The subject of deleting the zeros from the currency ready, but it needs an environment suitable to apply," noting that " To prevent manipulation and fraud by the owners of weak souls. "


The central government stands with the central bank's draft to delete three zeros of the currency, because it sees it "hurt the efficiency of the system of cash payments," according to the financial adviser to the prime minister.


"The current environment is suitable for this project because there is financial and political stability in the country, especially after the liberation of the (Daash) organization," he said.


He stressed the need not to rely on the project to support the Iraqi dinar, but "focus on the creation of all conditions that would support the Iraqi dinar and represented by political and economic stability," pointing out that "the central bank has accumulated experience in dealing with the subject."


The economist said, in the name of Jamil Anton, for "Economy News", "The current environment is not suitable for the project to delete the zeros at the moment, because the security situation has not settled so far in the ideal form."


He pointed out that "the project needs educational campaigns to be accepted by citizens and does not affect the movement of the market," noting that "the project has the benefits of reducing the amount of money used in deposits, which helps accountants not to fall in error in dealing with zeros in large amounts, As well as reduce the number of trustees funds and protect money from theft. "


Antoine predicted that the project would be implemented after the legislative elections scheduled for next May.






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ahill
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Re: Is it time to delete three zeros from the currency?

Post by ahill on Wed 04 Apr 2018, 1:15 am

Thanks Rocky.
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chouchou
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Re: Is it time to delete three zeros from the currency?

Post by chouchou on Wed 04 Apr 2018, 3:51 am

[You must be registered and logged in to see this link.] wrote:
Antoine predicted that the project would be implemented after the legislative elections scheduled for next May.


Well the guy guessed correctly....

As we know the elections over there could be a big mess and I am worry if the RV does not happen before we could be waiting more depending on the result.

What are your opinions guys obout the RV after teh elections?

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Diamond
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Re: Is it time to delete three zeros from the currency?

Post by Diamond on Wed 04 Apr 2018, 4:13 am

Hopefully abadi wins an gets new parlimentarins, an they could have it done by july, may 16th starts Ramadan an we all know how much they get done then

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Re: Is it time to delete three zeros from the currency?

Post by azareus on Wed 04 Apr 2018, 4:31 am

I said long ago if they dont get it done before the elections it will be a REAL mess and I still believe that.
1 month to go and sadly I think we are in for the long haul.
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Diamond
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Re: Is it time to delete three zeros from the currency?

Post by Diamond on Wed 04 Apr 2018, 4:40 am

[You must be registered and logged in to see this link.] wrote:I said long ago if they dont get it done before the elections it will be a REAL mess and I still believe that.
1 month to go and sadly I think we are in for the long haul.
az, I'm starting to think along those same lines
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weslin3
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Re: Is it time to delete three zeros from the currency?

Post by weslin3 on Wed 04 Apr 2018, 5:12 am

Me too.. If it doesn't come in before the elections, as it looks that way more every day, it won't happen.. I don't think... ever. They will be in a mess over there...IF Abadi gets in is a BIG IF...Then if he does... here we go back on the merrygoround.
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wciappetta
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Re: Is it time to delete three zeros from the currency?

Post by wciappetta on Wed 04 Apr 2018, 6:37 am

I think we ought to just find some assurance in these revelations. This is Selah talking, Abadi's economic advisor:

The central government stands with the central bank's draft to delete three zeros of the currency, because it sees it "hurt the efficiency of the system of cash payments," according to the financial adviser to the prime minister.


"The current environment is suitable for this project because there is financial and political stability in the country, especially after the liberation of the (Daash) organization," he said.

This below is simply an employee of the news agency, that happened to guess correctly:

Antoine predicted that the project would be implemented after the legislative elections scheduled for next May.

I'm watching the CBI and I expect introduction of new LD's to begin shortly, namely a 200 dinar note.


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azareus
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Re: Is it time to delete three zeros from the currency?

Post by azareus on Wed 04 Apr 2018, 6:58 am

If we see the 200 dinar note soon, I will get my hope up again
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ron-man
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Re: Is it time to delete three zeros from the currency?

Post by ron-man on Wed 04 Apr 2018, 7:15 am

I have read and seen a lot of things about tv ads training about new dinar lower denoms, so this going to happen soon and may very well be in circulation now.GOD BLESS.
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Re: Is it time to delete three zeros from the currency?

Post by wciappetta on Wed 04 Apr 2018, 7:28 am

[You must be registered and logged in to see this link.] wrote:If we see the 200 dinar note soon, I will get my hope up again

I understand, no worries though.


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