Deputies: issuance of large sections of the currency leads to inflation

Deputies: issuance of large sections of the currency leads to inflation

11/26/2013 | (Voice of Iraq) - 

Showed a member of the parliamentary Finance Committee Najeebeh Najib, the need to put financial and currency different categories in the Iraqi market, because Iraq has huge budgets and revenues.

indicated Najib, in a statement to PUKmedia, today Tuesday, 11/26/2013, that "the money that Atdoualha Iraqi citizens currently are very few compared to the budget's huge country. "

With regard to the central bank's decision to issue Iraqi currency from the category of 50 000 dinars, described the MP, the move as "good", especially that most of the Iraqi traders, whether they are businesses or ordinary people they prefer currencies large dollar, in their dealings. "

as explained Najib, that the issuance of a new currency for the time being will not confuse the Iraqi economy but would strengthen because monetary policy engine for fiscal policy and the more experienced a fiscal policy progress will reflect this on the growth of the economy. "

also saw an MP, that "re- restructuring process of Iraq needs to several measures, including the introduction to the draft and is fully prepared by the government and supported legally and awareness of the citizen ", stressing at the same time, that the issue of deletion of zeros will be discussed in the case put forward as a project."

For his part, member of the Finance Committee Alnibabah Dler capable, the issuance of currency large category of 50 thousand dinars without the necessary and would lead to significant inflation because of the presence of 33 trillion Iraqi calculated on the Iraqi economy.

either version currencies small by the Central Bank, Qadir said, in a statement to PUKmedia, today, that "the citizen Iraqi need to issue coins of small denominations for ease of handling. "

With regard to the process of deleting the zeros, confirmed capable, it is a complex process, pointing to the "lack of readiness of the House of Representatives to take such a decision because of the security situation and the instability of the Iraqi economy in addition to the needs plans for long and can not be changed to At the beginning of a new year. "

The restructuring of the currency, said MP: "The whole of Iraq from within which the economy needs to be restructured and re-construction due to the poor condition of the banks and the need for new legislation," noting that "Iraq is supported entirely on oil for its economy."

At the same effect, the Commission's decision of economy and investment parliamentary Mahma Khalil, had a different opinion, he stressed that "the Iraqi currency needs to restructure and delete the zeros and the issuance of a new currency are of economic requirements during the current phase to be a coin solid front damage and fraud and this in terms of purely economic . "

added Mahma, in his speech, for PUKmedia, that "the Central Bank and in agreement with the Economic Commission for issuance of a new currency, but the federal government has demanded to wait for this project because of the internal situation and the unstable security and the presence of priorities to restructure the currency and delete the zeros."

The importance of the issuance of Class 50 thousand dinars, at the moment, he noted the decision of the Economic Commission, that "such a decision would cause inflation and unnecessary," pointing out, that "should be minimized currency and not the issuance of large groups who will work on the float of the Iraqi currency and reduce the value of the dinar Iraqi against other currencies, because the balance of the sovereign Iraqi international banks in the portfolio investment exceeded 67 billion dollars of all currencies and that the Iraqi dinar is covered and does not have the balance of a sovereign, according to my opinion, the issuance of currency from the category of 50 thousand dinars unnecessary and uneconomic and would would hurt Iraqi citizen ". PUKmedia special

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Showed a member of the parliamentary Finance Committee Najeebeh Najib, the need to put financial and currency different categories in the Iraqi market, because Iraq has huge budgets and revenues. wrote:

Wow!! And this came from the FC...

indicated Najib, in a statement to PUKmedia, today Tuesday, 11/26/2013, that "the money that Atdoualha Iraqi citizens currently are very few compared to the budget's huge country. " wrote:

2014 is the largest Budget ever.

With regard to the central bank's decision to issue Iraqi currency from the category of 50 000 dinars, described the MP, the move as "good", especially that most of the Iraqi traders, whether they are businesses or ordinary people they prefer currencies large dollar, in their dealings. " wrote:

Large dollar,,,lol

For his part, member of the Finance Committee Alnibabah Dler capable, the issuance of currency large category of 50 thousand dinars without the necessary and would lead to significant inflation because of the presence of 33 trillion Iraqi calculated on the Iraqi economy. wrote:

I have a hard time believing that there is 33 trillion TODAY in circulation. NOT

either version currencies small by the Central Bank, Qadir said, in a statement to PUKmedia, today, that "the citizen Iraqi need to issue coins of small denominations for ease of handling. " wrote:

"ease of handling", makes no sense as coin is heavy very heavy with out a rate change.

With regard to the process of deleting the zeros, confirmed capable, it is a complex process, pointing to the "lack of readiness of the House of Representatives to take such a decision because of the security situation and the instability of the Iraqi economy in addition to the needs plans for long and can not be changed to At the beginning of a new year. " wrote:

Either they will, or they want.

The restructuring of the currency, said MP: "The whole of Iraq from within which the economy needs to be restructured and re-construction due to the poor condition of the banks and the need for new legislation," noting that "Iraq is supported entirely on oil for its economy." wrote:

Why you have foreign banks coming in NOW and lots of other commodities being moved on set up other than just the oil at this time.

At the same effect, the Commission's decision of economy and investment parliamentary Mahma Khalil, had a different opinion, he stressed that "the Iraqi currency needs to restructure and delete the zeros and the issuance of a new currency are of economic requirements during the current phase to be a coin solid front damage and fraud and this in terms of purely economic . " wrote:

Like the last to words to why... PURELY ECONOMIC!!

added Mahma, in his speech, for PUKmedia, that "the Central Bank and in agreement with the Economic Commission for issuance of a new currency, but the federal government has demanded to wait for this project because of the internal situation and the unstable security and the presence of priorities to restructure the currency and delete the zeros." wrote:

Just flip a coin as the good oh boys do..

The importance of the issuance of Class 50 thousand dinars, at the moment, he noted the decision of the Economic Commission, that "such a decision would cause inflation and unnecessary," pointing out, that "should be minimized currency and not the issuance of large groups who will work on the float of the Iraqi currency and reduce the value of the dinar Iraqi against other currencies, because the balance of the sovereign Iraqi international banks in the portfolio investment exceeded 67 billion dollars of all currencies and that the Iraqi dinar is covered and does not have the balance of a sovereign, according to my opinion, the issuance of currency from the category of 50 thousand dinars unnecessary and uneconomic and would would hurt Iraqi citizen ". PUKmedia special wrote:

I agree, why issue it with this rate and just use it after a rate float or change for the International Trading reasons.. ;)