Analyst: delete zeros from Iraqi dinar needs a political decision

Posted: December 27, 2013 in Iraqi Dinar/Politics
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12/26/2013

Still citizens waiting to start implementing the project to delete the zeros of the Iraqi dinar for several reasons, perhaps the most important of which is the security aspect in the interaction between individuals, as many traders dealing in dollars for the lack of size of the money supply, compared to the Iraqi currency.

member of the Finance Committee in the House of Representatives Abdul Hussain al-Yasiri see that there are problems executive hinder the issuance of paper currency new ones cost prohibitive to print. On the other hand predicted a member of the Finance Committee in the House of Representatives Abdul Amir al-Mayahi to start implementing the project to convert the currency within the next two years because of the large number of financial transactions, the current between individuals and government agencies.

Ruled out the former deputy governor of the Iraqi Central Bank appearance of Mohammed Saleh be embarking on the deletion of zeros from the dinar during the next year because the implementation of this project need to political and economic stability, and next year will see legislative elections.

To that sees economic expert Abdul Rahman al-Mashhadani that delaying the implementation of the project to delete zeros dinar waiting for a political decision and not economically because the dispute on this issue is the quality of the images printed on the new currency.

Mashhadani and adds that the central bank intends to issue coins in great financial value that negate the need to deal in U.S. dollars in the Iraqi market.

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