Central Bank: Parliament is convinced the process of deleting three zeros
Star Ghazzi

Posted 18/12/2011 05:36 PM

The Central Bank of the House of Representatives is satisfied the process of deleting three zeros from the currency after examining the details of the project with experts and economists in the House of Representatives. "
said the deputy governor of the Central Bank of the appearance of Dr. Mohammed Saleh (people) that "the central bank was able to answer all questions and inquiries by the Commission Parliament, which I listened to a detailed explanation on this subject, and persuaded the House of Representatives in the project and its positive effects on the Iraqi economy. "
He added that "The project is also being transmitted to the Economic Committee in the Cabinet for discussion, indicating that the deletion of the three zeroes from the local currency will be in 2013."
He pointed to the "The system of financial management suffers from the legacy of a large and need to repair large to remove the legacy of the economy is open, which he inherited Iraq because of the policies of the former regime."
The central bank said it plans to issue a new currency from the category of 50 dinars after deletion of zeros which is equivalent to $ 50 thousand JD at the moment. "
examines the central, since last June deleting three zeros from the local currency in an attempt to promote the value of currency in circulation, external and internal. Will be added the Kurdish language to the new currency in addition to Arabic. "
The Ministry of Finance to delete the zeros will free the economy from the constraints and enhance the value of the dinar in the International Monetary Fund.
He International Monetary Fund last August to support the Iraqi economy in the event of his a number of economic measures, including raising three zeros from the local currency.