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Deletion Of Zeros From The Dinar Is Necessary But It Is Premature


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Deletion Of Zeros From The Dinar Is Necessary But It Is Premature

Post by dizzydee on Sun 17 May 2015, 12:51 pm

May 16, 2015

Deletion Of Zeros From The Dinar Is Necessary But It Is Premature

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The economist said, the Secretary-haven, that: the restructuring of the dinar and deleting three zeros from the process are necessary, but the implementation of it but he also premature for the lack of economic, financial and security conditions that ensure a positive impact on the national economy.

The Secretary in a press statement, I followed (Dar es Salaam), "The restructuring of the national currency project is very important and the process of deleting the zeros Mnhadharorah to stop rising inflation in the currency figures, which made traders and contractors are reluctant traded on the internal and external transactions and replace it with cash in foreign currencies, especially the dollar ", adding that" this is reflected negatively on the currency and the value of its power and popularity and speed of circulation, in addition to the confidence of the citizen. "

He added that "the project to delete the zeros put up eight years ago, but the study and application of mechanisms passed many obstacles delayed its implementation, including the agreement on the form of the new currency and provide financial guarantees to be printed and safety for not rigged amounts."

The Secretary "the importance of the economic, financial and political conditions are met prior to the implementation of the project to ensure its success and benefit from in terms of cash transactions internally and externally and put competitive strength coin," noting that "part of the conditions is the security and the political stability that followed economic stability with the diversification of income sources National and the development of productive sectors and to ensure sustainability and support the national currency exchange rate against the dollar ", adding that" these things are all currently Ataatovr, and that talk on this subject is premature. "

He continued that "the national currency's strength is currently affected by the oil quantities exported and the price per barrel is stable, in addition to opening up the doors of depleted budget spending through fighting the terrorist Daash buy weapons and equipment gangs and relief to the displaced with reconstruction campaigns, and other expenditure sections that negatively affect the value of the Iraqi dinar against the dollar, "noting that" the stable economic environment in the country offers is very important to ensure the success of the restructuring process of its currency and to delete the zeros of them with positive repercussions on the national economy in general.

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