Central Bank show understanding of the government’s position to wait deleting zeros .
Central Bank show understanding of the government’s position to wait deleting zeros from currency : Posted Today, 08:29 PM
BAGHDAD / Center Brief for the Iraqi Media Network – The Central Bank that the question of resolving the zeros of the Iraqi currency require the integration of efforts between the government and the Central Bank and the House of Representatives in order to be transparent and successful, indicating that show understanding of the government’s position of patient in the deletion of zeros from the local currency.
The deputy governor of Bank of the appearance of Mohammed Saleh (Center Brief for the Iraqi Media Network) that “the process of deleting the zeros can not be the way you achieve the benefit unless received underpinned by the government and the government’s view in the patient must be respected because it is responsible for fiscal policy in the country “.
He referred to “the need to form a joint working group between the government and the Central Bank and the House of Representatives out of a common vision about the deletion of zeros from the local currency.”
Saleh added that “there is a matter of arithmetic system of the state, which means that the deletion of zeros means the deletion of three ranks of the mean and relates to the government’s authority and responsibility.”
The Iraqi government has decided to wait the issue of deletion of zeros from the local currency as a result of economic problems expected due to the deletion process.
He revealed the CBI earlier that the new Iraqi currency will increase by three zeros, indicating that he made an extensive study concluded that the lifting of the zeroes will strengthen the value of the Iraqi currency.
The Central Bank of Iraq four branches in Basra and Sulaymaniyah, Erbil and Mosul, where established bank independent Iraqi under the law of the Central Bank of Iraq issued on the sixth of March / March 2004, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign reserves and the issuance of and currency management, as well as the organization of the banking sector. http://translate.google.com/translat...://www.imn.iq/