Delete the zeros .. Vital project collides with the lack of economic stability//request to postpone

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Agree most specialists regard the financial and banking on that to delete the three zeroes from the local currency is very important, but that perform this operation at the present time
is a decision is correct may lead to negative results.
said an official at the Ministry of Finance Hilal Taan that "the deletion of zeros from currency at the present time will bring negative results, the proportion of economic conditions and financial unstable in the country. "
He Taan to the extent "it can not be embarking on this project at the moment because it may enter the country to bump added to the list of difficulties and obstacles and problems faced by them."
He Taan "was held a panel discussion by experts and specialists before sacking Governor of Central Bank of Iraq, where led to an inability to delete the zeros at the present time."
and suggested Tahan postpone the project to 2015 because the political and security situation and economic unstable.
his part, said a specialist in regard Economic as Abdul Hadi said "the data that builds awareness of such a decision lies in the stability of prices," he said, adding that this pillar is still missing in Iraq.
said Abdul Hadi extent that "the time is still too early to delete three zeros from the Iraqi currency at the present time because This issue needs to economic stability succeed process. "
explained Abdul Hadi said, "There are a lot of stages experienced by Iraq in recent years, which calls for careful in taking such a significant step in economic affairs."
to that, the decision of the Economic Committee in the House of Representatives Mahma Khalil be deleting three zeros from the Iraqi currency during the next year, returned to the changes, which affected the CBI may prevent the process of restructuring the national currency, as well as having a previous request to the government to wait to start procedures for the currency exchange.
, and was a member of the Finance Committee parliamentary Abdul Hussein Yassiri had announced earlier that the central bank According to the communications of the official start of this year procedures for deleting three zeros from the local currency, stressing that it would lead to the development of cash transactions and international economic.
Khelil said in a press statement that "the project to delete three zeros from the Iraqi currency was had arrived from the Central Bank of the Economic Commission representative in earlier. "
However, Khalil "The Iraqi government asked to wait to begin the project under false pretenses, although the application and the restructuring of the currency is a project economically purely as well as it contributes to the safety of the national currency."
and believes that " central bank policy today is a policy is successful, did not succeed in lifting the siege of the Iraqi dinar, and the issue of the currency exchange as it was unable to maintain hard currency within the environment of Iraq. "
He described the decision of the Economic Committee that "in the interest of Iraq, a restructuring of the Iraqi currency and delete three zeroes, which is an economic project and is vital to keep the currency from counterfeiting and damage. "
According to Khalil, the "There are international companies giant has a desire to implement this project, and sent appliances for this purpose for Iraq," noting that "Iraq is not the only country that is restructuring its currency national, has preceded us Turkey so, as there are many countries that its economy exhausted the structuring of its national currency. "
He pointed out that "the printed forms of the new currency (after deleting three zeros) include half a dinar and five dinars and ten dinars, 25 and 50 dinars, and where landmarks of the country and its culture, "noting that" if the deletion of zeros, the value of the dinar per be equal one dollar or so. "
and on the possibility to witness next year the birth of the new Iraqi currency, Khalil said, "We serve as the economic and the central bank is linked with us, we demanded from the bank to keep this The project exists, "but he also said," The government demanded to wait, and I think that what happened on the Central Bank of the changes and the appointment of new governor proxy means that this project will not see the light until next year, too. "
Among the difficulties faced by Iraq if they are to foot the deletion of zeros from the dinar is pulling about 30 trillion dinars in circulation in the Iraqi market now, then get rid of them and replace them with a new currency.
Moreover Male member of the parliamentary Finance Committee Haitham al-Jubouri in a press statement that "the replacement of currency and delete Ocefarha the best features and will be the largest decrease the size of inflation and revive the dinar due to lack of demand for the dollar, which comes advantages of a large economy of the country, "and added that the replacement will revive the country's economy but needs to the atmosphere of political and economic environment for the implementation of the project without facing any obstacles lead to the deterioration of the currency of Iraq."
In the meantime considered Advisor to the North Bank for Investment and Finance wholesome Elias Abbou, that the current period is not appropriate to start procedures to delete the three zeroes from the Iraqi currency.
said Abbou in a press statement that the process of deletion of zeros from the perspective of economic management process relies on how to control the deletion of zeros without imbalance between the cash value the previous and the new value, warned of "disruption of purchasing power after the deletion of zeros and damage to the consumer first."
and added that "the replacement of restructuring Iraqi currency in the current circumstances procedures misguided and will lead to the spread of the process of counterfeiting and forgery as a result of the instability of the security situation, political and economic."
He Abbou " The interest of the deletion of zeros is the process by reducing the money supply only and you need a long time to define them as citizens and that the current circumstances is appropriate to start the process. "

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