Despite its critics, CBI announces continued efforts to drop zeros from currency, leads to monetary reform

Posted: September 20, 2011 in Iraqi Dinar/Politics

CBI renewed: the project to delete the zeros based .. and will lead to monetary reform
On: Tuesday 09/20/2011 14:23

Baghdad (news) .. the Iraqi Central Bank announced the continuation of a project to delete the three zeroes from the currency against the backdrop of criticism faced by the officials, noting these criticisms do not affect the conduct of the monetary reform.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh, a reporter for the Agency (news) on Tuesday: that the project to delete the three zeroes from the currency is based not affected by any criticism it faces, noting that a national project must be implemented, he said, is that much of the world has passed this experience and have succeeded in their application and exceeded all the conflicts and the decline in economic reality to them.

He said Mohammed Saleh: that the project will be studied in more depth and demonstrate understanding and Adhaha to the public and that the project is not Annie “, but a long-term needs a long time to implement it,” likely that will be applied more than a year from now.

He noted that the harsh criticism made by most government officials that the central bank accepted all the spirit of national service in Iraq this normal, you get in all the countries of the world when you start the implementation of any project a huge interest to the general citizens as a deletion of three zeroes from the currency or the so-called (monetary reform) it faces a host of conflicts and criticism of different views, but he also to say: but the objective was not to be tainted by some mystery or overcome by the emotional nature of the charges or to affect a specific destination.

And rule out the deputy governor of the Central Bank that this project was just a money laundering and the occurrence of corruption and fraud, as happened in (2004) when he replaced the currency, saying that what happened at that time was the result of the absence of strong government and control of real security, but now are found elected government and forces good security, it is difficult to occur such operations.

He denied the deputy governor of the Central Bank of the news that refers to the completion of printing the new currency in Beirut, where he said that there are models with the central bank was prepared for the purpose of explanation and study of the project, stressing that the project if it is not a complete examination and approval of the concerned authorities by the application can not print the currency, He pointed out that the print is not easy to imagine the difficulty that some people, in the case of initiating implementation of the new currency is printed.

This launched a number of politicians and economists project a campaign against the lifting of the zeroes of the work, underlining the central bank on an ongoing basis that the project will lead to reforms in cash

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