Every zero in the Iraqi currency is a stage in destruction of the economy

Source: Baghdad, the statement
Date: May 29, 2012

Central Bank of Iraq said that every zero in the Iraqi currency is a stage in the destruction of the Iraqi economy, and that the removal of zeros from the currency and a national duty.

The deputy governor of the Bank, the appearance of Mohammed, in a press statement yesterday, said that the Iraqi currency re prestige to what it was before the Iran-Iraq war and a national duty, we have to be met through the implementation of the project to delete the zeros.

He stated that Iraq is trading locally four billion banknotes in different categories, regardless of value, offset 34 trillion dinars cash reserves, will double to about 90 trillion dinars in 2017, to increase the national product, and said:

This requires us to accelerate the implementation of the project to delete the zeros, before of evil consequences.

He added that the cost of switching the currency is a quarter of its value the truth, they bear a strong cover of 63 billion dollars.

The new benefit of his call to form a committee and the legislation a special law on the consequences and requirements to change the currency, that the Committee shall be the competent authorities, Kdioan financial control, parliamentary committees, and the Federation of Accountants, as well as civil society organizations, and others, to decide the fate of the project.


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