Economist Opinion: For dropping of the zeros to be successful other steps must be implemented

Posted: November 24, 2013 in Iraqi Dinar/Politics
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Senior Economist: Raising the zeroes corrective action to facilitate the transfer and account currency
Sunday, 24 October / 2 November 2013 08:11

The expert described the economic, Akram Abdel-Aziz, a step central bank to raise zeros from the local currency, “the action to reform aspects of the calculation.” It said in a statement told all of Iraq [where]: “The deletion of zeros is the restructuring of the financial sector and banking and reconsider the monetary policies.”

They believed that “the deletion of zeros facilitates the use of exchange and accounting transfer in the currency,” pointing out that it does not believe that “the lifting of the zeroes stating things in the last especially with regard to raising the value of the exchange rate or inflation, but it is conducting a reform of the aspects of the calculation, “noting that” ease Inflation needs to be a restructuring of the Iraqi economy, “pointing out that” our economy is dependent yield side budget on oil imports. ”

They pointed out that “actions raise zeros are ok, but it must be associated with other elements in order to be a positive step and bright to change the structure of the Iraqi economy.”

He indicated that the CBI has been teaching for more than two years, the issue of lifting the zeros from the Iraqi currency, but so far has not taken a firm decision in this regard.


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