Wednesday, 26 February 2014
Twilight news/opinion of the parliamentary Finance Committee on Wednesday that the prevailing economic and political climate in the country is not appropriate to delete the zeros of the Iraqi currency.
Years ago talking Iraq project to delete zeros from its currency dinar in an effort to reduce money supply and liberalization of the economy and enhance the value of the dinar in the International Monetary Fund.
There were claims last year to delete zeros from the currency after Iraq from Chapter VII of the United Nations.
Committee member, said Haitham Al-jubouri said in an interview for "Twilight": "political and not economic bears open this issue require the deletion of zeros to create coordination with fiscal policy and coordination with Congress through legislation that covers the conversion process.
He said that it takes an economic and political stability under the unstable currency rate and increase in expenditures, more likely that the next legislative session with the new Government opens the question of the deletion of zeros.
The IMF has expressed its support for the Iraqi economy in the event of a number of economic measures, including raising three zeros from the local currency.
The Iraqi dinar is the official currency of the country issued by the Central Bank.
Professional economists felt that changing the former Central Bank Governor Sinan Al-Shabibi and appearance of Mohamed Saleh and a number of World Bank officials and bring them to justice for alleged mismanagement and corruption negatively impact a project changing currency and raise zeros.
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