News from Iraq Directory

[ltr]Central Bank: Delete the zeros not on the cards [/ltr]
November 24, 2013

[ltr]Announced the Iraqi Central Bank Governor Abdul-Basit Turki said that "the project to delete the zeros from the Iraqi currency is currently not on the cards and the envelope is not suitable."

Turki added that "the Bank will declare early for the public when it decided to delete the zeros," stressing that "the justification for continuing failure to delete the list until now."


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[ltr]Senior Economist: Raising the zeroes corrective action to facilitate the transfer and account currency [/ltr]
November 24, 2013

[ltr]Described an economic expert, Akram Abdel Aziz, a step central bank to raise zeros from the local currency, "the procedure for the reform aspects of the calculation."

She told all of Iraq [where]: "The deletion of zeros is to re-structure of the financial and banking sector and to 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 another 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. "

She pointed out that "the procedures 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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