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

Post by wciappetta on Wed 04 Apr 2018, 12:23 pm

[You must be registered and logged in to see this link.] wrote:Why month's end?  What is it about "always delay" that people think is the key.  When they devalued, it was done without any notice, and I think the same can be done with the RV.  We get bits and pieces and not the whole picture, I think they are further along than we realize.

I hope you're right.


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

Post by Lobo on Wed 04 Apr 2018, 12:43 pm

I remember reading - way back "when" - the IMF kept telling India to increase the value of their currency.  When India delayed and delayed, one morning India woke up and their currency had increased in value courtesy of the IMF.  If Iraq doesn't follow the plan, the IMF could do the same thing.  There is a plan and a timetable.
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mochasmom
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Re: Is it time to delete three zeros from the currency?

Post by mochasmom on Wed 04 Apr 2018, 12:50 pm

Let's hope they follow  suit, if we see  LDS then I will feel it is imminent ..until then it's the same old same old
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Re: Is it time to delete three zeros from the currency?

Post by Screwball on Wed 04 Apr 2018, 2:24 pm

[You must be registered and logged in to see this link.] wrote:I remember reading - way back "when" - the IMF kept telling India to increase the value of their currency.  When India delayed and delayed, one morning India woke up and their currency had increased in value courtesy of the IMF.  If Iraq doesn't follow the plan, the IMF could do the same thing.  There is a plan and a timetable.
True....I think may but would love to be proven wrong because it would mean we would all get what we want much sonner
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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, 3:37 pm

All I can say is I believe it "will" happen. 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, 8:46 pm

[You must be registered and logged in to see this link.] wrote:I remember reading - way back "when" - the IMF kept telling India to increase the value of their currency.  When India delayed and delayed, one morning India woke up and their currency had increased in value courtesy of the IMF.  If Iraq doesn't follow the plan, the IMF could do the same thing.  There is a plan and a timetable.

Indeed there is a timetable ... our lens might be a bit fuzzy but it gets clearer with each passing day.


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

Post by Neno on Wed 04 Apr 2018, 9:33 pm

[You must be registered and logged in to see this link.] wrote:All I can say is I believe it "will" happen. GOD BLESS.
thumbs2 Now you see why I do not worry about it!!

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