Thursday, June 2, 2011

An economist's (citizen): raise zeros from the currency needs to Stbdalha and impacts negatively on the economy and state budget

An economist's (citizen): raise zeros from the currency needs to Stbdalha and impacts negatively on the economy and state budget
بغداد – علاء فاضل

Said economist Asad bugsbunny that the replacement of the currency at this time cost the budget of the state large sums of money, stressing that the same time raise zeros from the currency has Atharstwther negatively on the Iraqi economy

He said bugsbunny's (citizen): »that the effects of currency exchange is not easy and you need a big budget to cost the state large sums of money».

He added, »that the process of lifting Asvaristanaj certainly to replace the currency, which means Taterhaaly the Iraqi economy and state budget».
م He pointed out »that the Iraqi economy is currently suffering from many problems and the replacement of the currency will have negative results in this aspect».

He pointed out that »currency exchange needs to be studied in depth and I believe it is premature to implement this process in light of the current critical economic conditions». Stressing »that the market influenced by the general economic situation of the country and any move is successful will lead to other problems».

The Central Bank of Iraq may connote that the decision to raise zeros from the Iraqi currency maker, but he needs to work in a field. And said Mstcharalpennek appearance of the central Mohammed Saleh told a news briefing Wednesday: that the »decision to raise zeros from the Iraqi currency maker, but he needs to work convicts at the level of banks and international accounts Added to the withdrawal of old currency. »Saleh pointed out: that the» field work is very important for the completion of such a step being the need to create banks to deal with the competent organs of the new currency, »noting that« the replacement of the currency in the year (2003) was a quick step, but now We do not need this speed and we have enough time to create all the necessary steps for the success of the replacement process. »

Salih stressed: that Iraq had supplies sufficient to perform this experiment, but need the will and stay away from fear and hesitation in the implementation of Qraratpoukd the Central Bank announced the Iraqi intention to delete the three zeroes from the dinar, has sparked reactions and wide to the economic and financial circles, as the consequences of this step markets, especially as the zeros that were added to the currency years ago inflated the cluster of cash.

He stressed Dean of the Faculty of Management and Economics at the University of Karbala governor Mohsen that the Iraqi currency is now a «block paper», saying that «the problem itself stands in the way of developing the national economy».

He pointed out that the first step in this direction «The issuance of two categories of paper currency, one million dinars and the second thousand dinars to instil confidence among citizens and enable it to deal with the new currency once issued».

He improved that the application of step «will not take more than a year or two», because the deletion of zeros «will in the future to carry the citizen small amounts of currency, and raise the value in conjunction with a qualitative shift in the Iraqi economy, through optimum utilization of agricultural resources, industrial and transport services and storage, and development of effective national cadre, through a policy of economic and financial balance ».

He explained that the deletion of zeros will lead to an increase in dinars by the traders rather than the dollar, the «mean power-added of the national currency». As explained Advisor to the Governor of the Central Bank the appearance of Mohammed Saleh said that «zeros formed a cluster of up to four trillion banknote, worth the financial 27,000,000,000,000 BD, after that was 25 billion dinars in 1980 ».

(here we go again they are talking the amount of notes in circulation is the problem not the three zero's 
this is fantastic !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! )

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