Revealing a study to delete zeros from the Iraqi currency .. The reason?

Revealing a study to delete zeros from the Iraqi currency .. The reason?

BAGHDAD / .. The parliamentary Finance Committee, a study to delete zeros from the national currency, but they ruled out the application at the moment for several reasons.

“The proposal to delete the zeros has been submitted from the House of Representatives to the Parliamentary Finance Committee in order to study the change of the national currency and all categories and the printing of new coins, but the preliminary study showed that the costs needed by the project is great,” the committee’s rapporteur Ahmed al-Saffar told reporters.

He added that “the budget deficit for this year and Iraq’s debt is one of the most important reasons that will lead to delay the deletion of zeros (three zeros),” noting that “the Finance Committee has assigned specialized bodies of monetary policy to study the project carefully to submit to the Finance Committee to be the main lines of this project, which Its beginnings go back years. ”

Al-Saffar pointed out that “deleting the zeros is a project with psychological effects rather than being actual, as the citizen will feel that his money is compatible with the requirements of his life and the movement of supply and demand and equal to hard currency.”

Aynaliraqnews.com

BGG ~ This sounds a lot more like an OP ED piece from Al-Saffar. If so РI would tend to listen to  Al-Nusairi much more than some vague MP at the head of one of these rinky dink Parliamentary committees.

1) Al-Nusairi is still positive.

2) They are discussing the project right now (reportedly).

3) I am very skeptical the “hold-up” is the cost of printing and minting. I am assuming since they have had this project “in the hopper” since 2012 they have long ago had lower denoms printed and ready. Coins / fils? maybe not.

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