Conscious / Baghdad / Haidar al-Bakri
2/9/2009 1:22 pm
After the economic collapse experienced by Iraq at the stage of the nineties, with doubled numbers of Iraqi currency in the play and the farce of the cloned cards and the low of the Iraqi dinar compared to other currencies, where the economic distress experienced by Iraq led to the unusual disappearance of a gradual exchange of small (five and ten bankruptcy of bankruptcy), to percent JD fifty dinars.
And so on up to larger groups in the coming years of the currency, but the owner of this development is a real crisis in the level of the Iraqi dinar after the dinar was worth three dollars U.S. is today the U.S. dollar is equal to 1017 Iraqi dinars because Others thought some of the decisions of government agencies intervening in monetary policy.
Was for (News Agency, Iraqi Information / conscious) of this investigation to determine the main problems faced by monetary policy in Iraq through the stumble in the issuance of new currency As well as reduced purchasing power of the Iraqi dinar in foreign dealings, .
* For small value of the currency before the advent of a real stage nineties.
Said one of the employees named (a Hamad Qasim) the owner (47) years, "received after my work in the Ministry of Planning in 1985 The first salary was estimated at (60) dinars, and each passing year salary increase, or two dinars and one dinar every three increases come get a thank you letter in order to make allowance, where he was at the time of the coin of small value of the real stage before the advent of nineties has turned the wretched of the code compliance officer and civil and legal assistance to another person living in poverty and clearly could force be used by any such bribery Order to be able to now designated daily salary is good but frankly to him Anhs purchasing power as I do in the past and the power of small change. "
( The Hajj Abu behalf of ( 51) in the ad hoc salary in the last period was enough for me and fills his pocket money monthly, family, and I was small bills of mineral and other DRAM and notified them of my pocket when I hear Rninhm and I feel in good economic shape, but after the currency lost money has become a starter and the funds in whatever value is not sufficient for the family.
* 50.000 dinars claim the lives of Fred and Karim
(O. H) security guard at the Central Bank of Iraq was before the days of habit, I sat with my friend Fred came one security officials and presented to us To go in the duty convoy to Basra with the currency which will be transported from ports to Baghdad (central bank) for the equivalent 50.000 dinars fact I refused and this was one of the tips that my father Aakharj in any duty because of the deterioration which swept the country then offered to go to my friend who was sitting next to me (Fred), he said I do not want to die, said the official, beat him if you are a coward, saying a unique individual Tell a coward a thousand times I do not want to hear God's mercy once, but in the meantime, our friend entered a third (Karim), said Farid I accepted the duty, even if I die then spend my Lord Death is written on each one and pushed me but equivalent To go and hoping that Tnfni to fetch the things for young children, who gave birth to their twins a week ago, Farid Let's go Masks and two days after the news arrived that the convoy was robbed and killed to a unique and Karim, who were sitting in a car, pick-up, one beside the other and Ojdnahm one puts his hand on the other Mtwadein in the back in addition to the driver, who by their side who did not remember his name. "
* Expert: small coins disappeared from the local market due to high commodity prices.
Economic expert Maher Abdel Karim Spring: making statements The question Disappearance Small bills He says (before the ninth of April 2003 the paper currency of the categories (25-50 - 100) dinars, are abundant in the Iraqi market, despite High levels of inflation and the political system when he fell with his money and it, as many That Small change And coins Cash will return to the circulation and is actually a small coin of the category (25-50 and 100) dinars, but soon What disappeared from the local market due to high prices of commodities and goods and lower Capacity Purchasing power of the Iraqi dinar.
* The wrong policies pursued by the government in the economic sphere and the issuance of currency at the time.
The wave of price rises which the Government reacted In the field The absence of economic Controls Laws In Stock Old Exposed the Iraqi currency to lower their purchasing power, which is dominated by most countries, laws and procedures Effective And now using the categories of small metal and currency widely in the countries of the region, especially Arab Gulf States And even Syria and Jordan As a result of economic and political stability enjoyed by these countries as well as fiscal policy and central banks in a while we still miss this policy In Iraq.
* Central Bank in a statement obtained by the Iraqi news media a copy of it.
Advertise Value solutions to increase the value of the Iraqi dinar previous study that solutions are possible to achieve this and increase the number of the smaller on the right hand the currency that is being done through the media so that citizens can act as not to compromise their savings and being a successful process in a manner
* Adviser to the Central Bank: the Iraqi dinar and the currency values in general have external and internal
The monetary system in the unit of currency is the dinar and the dinar is made up of 1000 fils This unit is the basis of the system building Cash In Iraq As historically Select the dinar is equivalent to $ 3 This situation prevailed In Iraq To the year 1979-1980 Since entering Iraq Iran-Iraq War Started Show for the first time currency exchange rates in black Iraqi dinar began to deteriorate in value of external and pointed out that the Iraqi dinar and the currency values in general have internal and external value of domestic dependent Level The general price Interior and the currency value is inversely proportional to the overall level of prices higher General level of prices the value of the currency to deteriorate, either external value of the exchange rate of Iraqi dinar against foreign currencies of the dollar and others, and this Also Has begun to deteriorate And the values of the currency moved in a single line about the deterioration of the financial payment for cash transactions Be in different forms ( CHEC Currency for small transactions of small and large transactions are through (CHEC ) But Iraq and by virtue of being the beginning and the Third World country Relies on cash transactions Since in 1980 was the biggest Iraqi currency is 25 dinars, which is equal to the then $ 75 U.S. And (fils and dirham) All of these are the currencies of the purchasing power with her although she simple fractions of the currency as the economic downturn and declining domestic production that in turn impacted on the supply deficit in the goods and subsequently here in great demand and spending A large and borrow a large Greater than the supply as the structure of the low and deteriorating because of the war and started the internal value of the rise in prices and value of foreign exchange deterioration of the Iraqi dinar, adding that there is Workers Are the reason behind the deterioration of the Iraqi currency. That inflation sing Crushing the poor wealthy that monetary policy has succeeded in achieving its objectives with the main objective is to contain inflation and Ellasar It is a policy followed in the Central Bank in its During the past three years followed strict policies This militancy over the trends
* The first direction to raise interest rates to give nominal value of the real value of the dinar is a real and not illusory, but that commensurate with the strength of the economy of Iraq as the Iraqi economy must achieve the parting in the budget of any external balance of payments as exports have become more imports and thus The surplus And this is Large reserves in the budget of the Central Bank issued this coin In 2006 We in the Central Bank as workers were then Not agree on the publication but there was considerable pressure from the Iraqi prime minister issued a This scrap of Balkhmsin dinars and a hundred dinars and paper (Kjons) metal in a timely manner and we explained to the prime minister, said the Iraqi economy is poised to issue currency, and dealing with Need to educate the public around This is part of a large project , Noting that it was a deal urgent and ill-considered not received by the public and accompanied by the incident To individual members of the manna in the power of the central bank to bring them during these containers loaded with currency (scrap) From the port of Basra killed at the impact of four martyrs protect the security of personnel Central Bank and the theft of One of these containers, adding that the four martyrs We have taken with them the measures taken by the State's legal rights granted to them as martyrs The container has not been restored is no value They are junk He pointed out that the scrap was not distributed storage of the Central Bank and we will send to the Ministry of Industry and Minerals.