Economists: The process may produce positive effects in light of economic stability

Continuing controversy over the deletion of zeros from the currency


BAGHDAD - Haider Flaih spring

Varied views of a number of experts and specialists in economic affairs in the process of deletion of zeros and replace the Iraqi currency, between a pro her shows split most of the opinions of those interviewed (morning), while some see the importance that the central bank's the application of fiscal policy without confusion and as planned, others to seek central to the study of intensive and extensive process, which they said: It may not benefit the national economy with something, and the number of experts pointed out that the application of the process of removing the zeros can not achieve success desired, but in light of stable economic conditions, which is not seen Iraq at the moment, according to expert opinion, is that specialists others made ​​clear the importance of the matter as it confirmed that it can maintain the stability of the dinar on one hand and reducing the mass of cash in the Iraqi market, which is approaching four trillion paper reviews a the other. is not the time

He sees Dr. Mahdi Al-Hafiz was not the time to begin the implementation process of changing the currency and the deletion of zeros of them, pointing Speaking (morning) that Iraq inherited a long period of economic instability, as well as passing through the current conditions Garmestqrh are all factors that do not help in practice to the implementation of plans of large cash like that purports to the Central Bank implemented in the deletion of zeros, calling for careful implementation of this matter until the stability of economic and political conditions and then consider changing the currency or re-consider the calculation of the exchange rate.

In response to the opinion of Central Bank of Iraq on the gradual change of the currency in case of deletion of zeros, said Hafiz: Can not determine the period of time to replace the currency, but after witnessing the national economy stable full ..

Take advantage of the experiences of countries, while confirming Hafiz not to fit the time with the process of removing the zeros due to instability economic, the Undersecretary of the Ministry of Planning and Development Cooperation, Dr. ultra Abdul Rasul did not go away from that view when he said that monetary policy in Iraq is confused too ... and confusing.

Shows the agent during the interview (morning) that this policy is not based on a true understanding of the theory cash in the world based on the concepts of two basic policies have contractionary and expansionary, adding that the proposal made ​​to Iraq is to adopt a free economy, and therefore everything is going according to policy, deflationary, and led to the reduction of money supply and thereby raising interest rates and it was born severe pressure on the possibility of banking facilities, but said Abdul Rasul in return called for a benefit from the experiences of countries that have preceded us in the process of changing the currency to reduce the mistakes that you may encounter the process, and also said, is not new to Iraq, the process of lifting the zeros from the currency has preceded us many of the States in that and I think the advantage of experiences of some countries will help the success of the issue which is important experiments must be taken into consideration ..

The zeros added to strengthen the currency, in turn, considered the economic researcher as Abdul Hadi said the issue of changing the currency and to delete the zeros of which is premature, noting that everyone knows that the zeros were added to the Iraqi currency as a result of economic weakness, which was suffered by the country, stressing that this weakness is still present what he called to say: we printed currencies with large groups ..

He said Abdul Hadi said that if the deletion of zeros, to everyone that he is certain that the Iraqi economy returned to a much stronger position than it was Accordingly, the opposite of what is going through economic reality now.
He assured the researcher of citizens, which is administered talk about what may accompany the process of removing the zeros, stressing the inability to exploit it by the weak people, as rumored recently, and that the new currency to be printed is the currency of the same specifications highly difficult to forge or imitate in any way.

To that supported economic expert on behalf of Jamil Antoine process of deletion of zeros from the currency, stressing the importance of curb what he called (dollarization) and the frequent use of foreign currencies in the trading day for the local markets, said Antoine that the most prominent is imperative for Central to change the currency, and to delete the zeros of which is the enormous mass of cash in the local market, estimated at more than four trillion paper money, asserting that the deletion of zeros will reduce this number to reach after nearly two billion eight hundred million banknotes, explaining that this process be shortened many of the daily dealings of the coin both in the banks or the rest of the accounting of financial markets or Chierfat especially that of the Iraqi citizen does not believe in only dealing cash (Cache).

He said the expert also said the process of removing the zeros will enable traders to the currency storage and transport more easily than it is now, is that the most prominent as possible The resulting change the currency, according to Antoine is to reduce the trading in cash and raise the value of the dinar, which he said now with great strength, especially in light of its support with a $ 58 billion is the value of reserves of the CBI.