Varied views of a number of experts and specialists in economic affairs in the process of deletion of zeros and replace the Iraqi currency, between a pro her shows split most of the opinions of those interviewed (morning), while some see the importance that the central bank’s implementation of fiscal policy, without confusion, and as planned, others that seeks Central to the study of intensive and extensive process,
which they said: It may not benefit the national economy with something, and the number of experts pointed out that the application of the process of removing the zeros can not achieve success desired only under stable economic conditions, which is not seen Iraq at the moment According to expert opinion, is that specialists others made clear the importance, as it confirmed that it can maintain the stability of the dinar on one hand and reducing the monetary bloc in the Iraqi market, which is approaching four trillion paper reviews the other hand. is not the time
He sees Dr. Mahdi Al-Hafiz was not the time to begin the implementation process of changing the currency and the deletion of zeros of them, noting in his speech told the (morning) that Iraq inherited a long period of economic instability, as well as passing in the current circumstances Garmestqrh are all factors that do not help in Traditionally, the implementation of plans such as large cash purports that the central bank implemented in the deletion of zeros, calling for careful implementation of this matter until the stability of economic and political situation and then consider changing the currency or re-consider the calculation of the exchange rate.
In response to the Iraqi Central Bank’s opinion on incremental change of the currency in case of deletion of zeros Hafiz said: Can not determine the period of time to replace the currency, but after that the national economy is stable, full ..
Benefit from the experiences of
While emphasizing preserving the disproportionate time with the process of removing the zeros due to economic instability, the Undersecretary of the Ministry of Planning and Development Cooperation, Dr. ultra Abdul Rasul did not go away from that view when he said that monetary policy in Iraq is confused too … and confusing.
Shows the agent during the interview (morning) that this policy is not based on a true understanding of the theory of cash in the world based on the concepts of two basic policies have contractionary and expansionary, adding that the proposal made to Iraq is to adopt a free economy, and therefore everything is going according to policy, deflationary, and led to the reduce the money supply and thereby raising interest rates and it was born severe pressure on the possibility of banking facilities, but the Abdul Rasul in return, called to take advantage of the experiences of countries that have preceded us in the process of changing the currency to reduce the mistakes that you may encounter the process, and also said, is not new to Iraq the process of lifting the zeros from the currency has preceded us in the many countries that, and I imagine that benefit from the experiences of some countries will help the success of the issue which is important experiments must be taken into consideration ..
Zeros added for the strengthening of the currency
In turn, considered the economic researcher as Abdul Hadi said the issue of changing the currency and to delete the zeros of which is premature, noting that everyone knows that the zeros were added to the Iraqi currency as a result of economic weakness, which was suffered by the country, stressing that this weakness is still present what he called to say: we have printed currencies with large groups ..
Abdul Hadi said that in the case of the deletion of zeros to everyone that he is certain that the Iraqi economy returned to a much stronger position than it was, and the opposite of what is going through the current economic reality.
The researcher assured the citizens, which is administered talk about what may accompany the process of removing the zeros, he did not exploit the possibility of it by the weak people, as rumored recently, and that the new currency is the currency to be printed with high specifications difficult to forge or imitate in any way.
To that supported economic expert on behalf of Jamil Antoine process of deletion of zeros from the currency, stressing the importance of curb what he called (dollarization) and the frequent use of foreign currencies in the trading day for the local markets, said Antoine that the most prominent is imperative for the central change the currency, and to delete the zeros of which is the enormous mass of cash in the domestic market, estimated at more than four trillion paper money, asserting that the deletion of zeros will reduce this number to reach after nearly two billion eight hundred million banknotes, explaining that this process be shortened many of the daily dealings of the coin, whether in banks or the rest of the accounting of financial markets or Chierfat especially that of the Iraqi citizen, but does not believe in handling cash (Cache).
He said the expert also said the process of removing the zeros will enable traders to the currency storage and transport more easily than it is now, but the most prominent can result in a change the currency, according to Antoine is to reduce the trading in cash and raise the value of the dinar, which he enjoyed very strongly now, especially in With its support with a $ 58 billion is the value of the Iraqi Central Bank’s reserves.