Iraqi Finance: Delete the zeros from the currency will strengthen the position of Iraq to the International Monetary
18/11/2010 16:37
Baghdad / November 18 (Rn) - The Iraqi Ministry of Finance, Thursday, that the deletion of zeros from the local currency will liberate the Iraqi economy from the constraints and enhance the value of the Iraqi dinar in the International Monetary Fund.
The chancellor said the Iraqi Ministry of Finance Zia Alckheon Kurdistan News Agency (Rn) that "the process of removing three zeroes from the local currency will strengthen Iraq's economic position in the international community and specifically the International Monetary Fund."
He added that the "survival of the current currency and the current status would not address the question of the economic gap taking place in the Iraqi dinar as it will increase the burden on the Iraqi economy."
And that "the process of changing the currency certainly will take time and money, but is required to remove the barrier between the Iraqi economy and the global economy and to give more than the value of the Iraqi dinar."
In the view of the central bank to raise the three zeroes from the local currency is a complex process and need to be thorough economic study.
He expressed the International Monetary Fund in August last support of the Iraqi economy in the event of having a number of economic measures, including privatization of banks and raise three zeroes from the local currency and to meet debt and compensation is the responsibility of Iraq.
The Iraqi government denied conducting any change in the local currency this year in order to reduce inflation.
The news has recently indicated that the Iraqi government plans to make changes to the local currency, including raising three zeros in order to reduce inflation suffered by the Iraqi market, as well as add the language Kurdish paper currency.
The local Iraqi currency has gone through several changes in its history, most recently in 2004 when the former Governing Council replaced the previous currency, which was a symbol of the former regime.
http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.aknews.com/ar/aknews/3
18/11/2010 16:37
Baghdad / November 18 (Rn) - The Iraqi Ministry of Finance, Thursday, that the deletion of zeros from the local currency will liberate the Iraqi economy from the constraints and enhance the value of the Iraqi dinar in the International Monetary Fund.
The chancellor said the Iraqi Ministry of Finance Zia Alckheon Kurdistan News Agency (Rn) that "the process of removing three zeroes from the local currency will strengthen Iraq's economic position in the international community and specifically the International Monetary Fund."
He added that the "survival of the current currency and the current status would not address the question of the economic gap taking place in the Iraqi dinar as it will increase the burden on the Iraqi economy."
And that "the process of changing the currency certainly will take time and money, but is required to remove the barrier between the Iraqi economy and the global economy and to give more than the value of the Iraqi dinar."
In the view of the central bank to raise the three zeroes from the local currency is a complex process and need to be thorough economic study.
He expressed the International Monetary Fund in August last support of the Iraqi economy in the event of having a number of economic measures, including privatization of banks and raise three zeroes from the local currency and to meet debt and compensation is the responsibility of Iraq.
The Iraqi government denied conducting any change in the local currency this year in order to reduce inflation.
The news has recently indicated that the Iraqi government plans to make changes to the local currency, including raising three zeros in order to reduce inflation suffered by the Iraqi market, as well as add the language Kurdish paper currency.
The local Iraqi currency has gone through several changes in its history, most recently in 2004 when the former Governing Council replaced the previous currency, which was a symbol of the former regime.
http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.aknews.com/ar/aknews/3