5 replies to this topic

[deniscanada]

Central Bank: The process of switching the currency and delete zeros will take nearly two years and we hope to be a 2013 budget of the new currency

Sunday, July 1, 2012 17:18




Baghdad {: News} Euphrates said Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, said that "the process of switching the currency and delete Zeros will take approximately two and ongoing preparations for the process that began more than a year, hoping to be a balance in 2013 the new currency.
A statement of the Finance Committee that "the parliamentary Finance Committee hosted the appearance of Mohammed Salih, Deputy Governor of the Central Bank, in the presence of members of the Committee and its advisers. During the meeting, discussion of the mechanism that will be followed by the bank in the process of Delete the zeros and how long this process and the variables that will occur on the exchange Currency and its value in the domestic and global market and its effects on the Iraqi citizen and level Living standards.

He stressed that the completion of Project to improve the payments and facilitate the circulation of currency, stressing that the process will raise the Exchange of currency and its value in improving the domestic and global market, denying all caused by any Effects on the standard of living of the Iraqi people.
He called on the deputy governor of the central bank to Cooperation of everyone, both for its location in the success of the project as a national and belongs to everyone.
In The conclusion of the meeting, Deputy Chairman of the Committee for its support for the success of this project and to activate and to seek Permanent to complete and submit all projects that serve the public interest. Ended


http://translate.goo...ZK5j0RH-1vkPkcg

[unirod]

"exchange currency and it's value in the domestic and global market and it's effects on the Iraqi citizen and level living standards."

So the project will be good for Iraq in many ways according to the CBI. I don't see a LOP on the horizon as how would that LEVEL living standards? How would Dinar confidence increase in a global and domestic market? a LOP is not complicated, but a strait up increase in Dinar value must be.....IMO

[Shelley]

"exchange currency and it's value in the domestic and global market and it's effects on the Iraqi citizen and level living standards."

So the project will be good for Iraq in many ways according to the CBI. I don't see a LOP on the horizon as how would that LEVEL living standards? How would Dinar confidence increase in a global and domestic market? a LOP is not complicated, but a strait up increase in Dinar value must be.....IMO

I'm with you on this one Unirod

Thanks for the post Deniscanada

[zigmeister]

Iraq could make a simple thing into a monster with tendrils......oh yea so can the US. Anyway I hope you are right Unirod, I really do.

[magawatt]

It could take several months for the local pricing to fully absorb the change to a significantly higher rate- so the sooner the better to insure a meaningful budget.

[unirod]

The deputy chairmain called to "activate" the project and all projects that serve the public interests!

Just do it!