The Secretary General of the Council of Ministers Ali Mohsen Ismail in a press statement, received and agency news news (et) copy of it on Monday that the project replace currency and the abolition of three zeros discussed during the last term in the Council of Ministers, stressing that the Council stressed that this project is not a priority for the government at the moment there is no real problem in this area.
He noted that the replacement of the currency in itself requires a large adjustments, as there are still issues with this side after the fall of the dictatorial regime, where the mass of currency in circulation is limited, but it has doubled now than it was at the time, and therefore the process of withdrawing this block is large and difficult task.
The secretary general said some have the wrong impression implies that the deletion of zeros will reduce the size of the money in circulation Kkamih, and indeed it does not reduce even by 1% and although the government believes that the change of currency is a good thing in the case of appropriate conditions for its application, but does not give him priority But when there are stable conditions.
He pointed out that the Iraqi dinar candidate because rising price against the dollar, and there is economic and financial viability enables dinar to be stronger than it is now, the chances of higher value available, especially with the growing backlog at the central bank, which exceeded $ 65 billion and rising steadily along with high economic growth in Iraq and is now one of the most developed countries in the world thanks to the expansion of oil production.
And the Secretary-General that the ingredients objectivity and economic available in the direction of the high exchange rate of the dinar against the dollar, adding that the government is seeking to have that exchange rate 1000 dinars to the dollar in the sense that the price of the currency class hundred dollars a hundred thousand Iraqi dinars and that any improvement in the political situation of could contribute to make this happen faster.
[You must be registered and logged in to see this link.]