27/07/2011 BAGHDAD – Iraq’s future
Surprised at the appearance of the central bank adviser Mohammed Saleh, a project to change the delay to decide the currency by the executive and legislative branches, saying that the project contributes to the out of economic problems and conflicts in Iraq.
He attributed the reasons for changing the Iraqi currency was the result of inflation happening in Iraq as well as improve the value of the Iraqi currency, called on the government to speed up the feminine in the Iraqi currency and re-structure to facilitate cash transactions and projects.
He stressed the need for feminine Iraqi currency because Iraq has today (30) trillion Iraqi dinars, indicating that with the growth of the economy will grow this money, and thus is enriched these figures on the property itself, while will be numbers Mrhqh, and commensurate with the facility or create a system reforms cash soft and easy to .
And put on the timing of the coin, and whether it will precede the process of deleting the zeros? Between the benefit that the coin will be within the structure of currency and within the existing project and will be the currency after the deletion of zeros from the currency paper.
He explained that the purpose of the coin is to cover the transaction currency, considering the small groups of fast trading, especially as the age of the coin longer than cash, as well as that coin will be the proof of the strength of the Iraqi currency.
Saleh called on to encourage and support this step as a positive impact on the Iraqi economy.
The central bank decided to introduce coins as part of his plan to restructure the currency, which requires government approval and the Council of Representatives for a strategic plan that it will contribute in supporting the Iraqi dinar’s value in financial trading.