Economist calls not to delete zeros from the currency for the lack of security and economic stability
Economist, called Bassem Jamil Antoine, not delete zeros from the current currency, because there is no security and economic stability in the country.
Antoine said each agency in Iraq, that “delete zeros from currency a currency, restructuring and reduce large digital calculations for cashiers, accountants count of transfer numbers,” he said, adding that “the current time is not suitable for Exchange, because there is no security and economic stability in the country.”
The expert explained that “political differences in the country have a clear impact on the deterioration of the country’s economy because politics and economy lagging far some twins.”
Antoine believed that upgrading the country’s economy, requires political decisions and political will, as well as building a well-defined economic strategy of the country, involving professionals and economic efficiencies.
The Cabinet has asked April 2012 wait in the application deleting zeros from the local currency to further notice.
The Iraqi Central Bank, the Bank Adviser Mohammad Saleh appearance, has confirmed to IGN need Iraq to an administrative reform of the currency, and the deletion of zeros is the step comes within the country’s administrative reform process, in order to reduce the cost of cash transactions in the economic process, in addition to the need to provide small groups cash coins used in daily transactions.
Officials at the Central Bank, in addition to some politicians and economists urged the Government to delete the zeros from the currency and issued new currency large cash categories, in addition to having small coins.
Observers say that the Government intended to delete zeros from the currency as a step towards improving the purchasing power of the Iraqi dinar, but economists underestimated the importance of this step, saying that the cost of raising the zeros will be greater than the benefit of raising zeros. ended up 2.