central bank adviser denies relationship with the Ministry of Finance

[VIZIOIRAQI]

Conscious / central bank adviser denies relationship with the Ministry of Finance deleting zeros for the Iraqi currency المشـرف العام General supervisor حجم الخط: Font size:

واع/ بغداد/ و. Conscious / Baghdad and /. خ X

2010/8/24 10:36pm 2010/8/24 10:36 pm

نفى مستشار البنك المركزي العراقي مظهر محمد صالح مساء اليوم ان تكون عملية حذف الاصفار من العملة العراقية Denied the Iraqi central bank adviser appearance of Mohammed Saleh said this evening that the process of deleting the zeroes of the Iraqi currency او عدم حذفها من صلاحية وزارة المالية. Whether or not to delete the validity of the Ministry of Finance.

وقال صالح في اتصال هاتفي مع( وكالة انباء الاعلام العراقي/واع ) ان مشروع الغاء الاصفار سبق وان صرح به وزير المالية قبل ثلاث سنوات وطرحة على البنك المركزي العراقي لدراستة بشكل مفصل والذي يعد جزء من عملية دراسة الاستراتيجة ادارة العملة العراقية وهي من صلب اختصاص البنك المركزي العراقي وليس من اختصاص أي جهة اخرى. Saleh said in a telephone conversation with (Iraqi News Agency Information / INA) that the proposed cancellation of zeros above and stated by the Finance Minister three years ago and presented to the Iraqi Central Bank to study it in detail, which is part of the process of studying the Strategy Department of the Iraqi currency is one of the purview of the Bank CBI is not the jurisdiction of any other party. مبينا ان العملة النقدية العراقية اصبحت كتلة كبيرة جدا من حيث القيمة فوصلت الى 27 ترليون دينار عراقي وهي نتاج مرحلة تضخمية عاشتها ايام النظام السابق اما اليوم فان الاقتصاد العراقي يعيش حالة استقرار وان هذا الاستقرار يحتاج الى نظام مدروس لادارة العملة العراقية وان عملية الادارة هذه من صلاحيات البنك المركزي في توفير عملة للمواطن العراقي في تسيير اموره المالية في حياته اليومية بشكل مستقر وسهل اما مسألة وجود فساد اداري ومالي تطرق اليها المسؤول في وزارة المالية فهي ليست Indicating that the currency of Iraq has become a mass of very large value, reaching 27 trillion Iraqi dinars as a product phase of inflation experienced by the former regime but today the Iraqi economy is in a state of stability and that stability needs a thoughtful management of the Iraqi currency and the process of those management powers Central Bank to provide currency for the Iraqi people in the conduct of financial affairs in their daily lives in a stable and easy to either the existence of administrative and financial corruption mentioned by the official in the Ministry of Finance is not ذات علاقة بادارة العملة العراقية وان اقحامها بهذه Related to managing the Iraqi currency, and force them into this العملية هوليس صحيحا لذا فان عملية ادارة السياسة النقدية ليس من اختصاص جهات وزارة المالية وانما من اختصاص البنك المركزي . Hollis true process so the process of monetary policy is not for the actors and the Ministry of Finance, but from the jurisdiction of the Central Bank.

واضاف اننا لدينا نوايا ضمن هذا المجال كجزء من ستراتيجيتنا والبنك المركزي هو من يقرر الوقت المناسب لتنفيذ ذلك وذلك We added to our intentions in this area as part of our strategy and the central bank is to decide the right time to do it and that يعتمد على تشكيل الحكومة العراقية والبرلمان العراقي المقبلين والهدف منها اضفاء الازدهار على الاقتصاد العراقي. Depends on the formation of the Iraqi government and the Iraqi parliament and the next goal which is to flourish on the Iraqi economy. مشيرا الى ان مثل هكذا تصريحات من جهات وزارة المالية يجب ان تكون على شكل مخاطبات او تقديم مقترحات مع جهات البنك المركزي العراقي ما عدا ى ذلك فان تصريحات المسؤول في وزارة المالية تعد خيبة امل كبيرة . Pointed out that such views and comments from the Ministry of Finance should be in the form of correspondences or make points with the Central Bank of Iraq, except that Z, the statements of the official in the Ministry of Finance is a big disappointment.

وكان وكيل وزارة المالية فاضل نبي صرح اليوم عن نفيه حذف الاصفار من العملة العراقية لعدم توفرالجدوى الاقتصادية قائلا The Undersecretary of the Ministry of Finance Fadel Prophet said today Neve delete the zeros of the Iraqi currency to non-economic Tovraljdoy saying انه قبل ثلاثة اعوام عزم البنك المركزي على حذف الاصفار من العملة العراقية وقد اشرنا في وقتها الى عدم تحقق الفائدة من العملية.مشيرا الى ان عملية حذف الاصفار من العملة تحمل اوجها عدة، منها زيادة في المصروفات التي تسمح بحالات الفساد المالي، والامرالآخر انها لا تعالج مشكلة التضخم،على الرغم من ان نسبة التضخم تراجعت في العراق خلال الآونة الاخيرة. Three years ago, the determination of the central bank to delete the zeros of the Iraqi currency has highlighted the time not to verify the usefulness of the process. Adding that the process of removing zeroes from the currency bearing height, inter alia, an increase in expenses that allow cases of financial corruption and Alammeralakr they do not address the problem of inflation, although the inflation rate dropped in Iraq during the recent period.

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[EBJNYC]

Now the CBI is pissed that MOF opened its mouth regarding DELETION OF 3 ZEROES. Either way its still under consideration -- and seems like more REALISTIC factors are being looked at by the CBI relating to the 3 ZEROES coming off.

Edited August 25, 2010 by EBJNYC

[Doc31]

This was easily settled months ago when we realized here on DV that when a "lopster" came out and announced a LOP ... he neither had the power to do such a thing nor had we ever heard of him before!

Then an hour or two or even a day later someone who did have the juice to do such a thing (such as Shabibi) would come out and say, "of course not, that would be counterproductive to what we are trying to accomplish."

If you will use this guide I think that you'll quit wondering and riding the LOP rollercoaster.

Smoke and mirrors? Nope ... IMO, just plain old "misdirection."

I mean, haven't you ever wondered why out of the 52,000+ Googled "IQD scam" listings 98% of them are counterfeit articles and yet according to a poll here on DV only one person has ever seen a counterfeit and it was a bad one? Come on ... someone doesn't want you buying IQD!

[6 string]

Thanks for digging up the info. I like this part "Depends on the formation of the Iraqi government and the Iraqi parliament and the next goal which is to flourish on the Iraqi economy." It sounds like there is a lot of pressure inside Iraq to get the Gov. in place soon. You can tell by the anwsers that were given in the report, they want it done now. Me too!!! Take care all.

Read more: http://dinarvets.com/forums/index.php?app=forums&module=post&section=post&do=reply_post&f=5&t=29435#ixzz0xecB6wHn

[drox]

Great comments Doc31.... on the money! Pardon the pun!

This article does state that CBI is waiting for the government to be seated. I think that is a good indicator of how important that event is before CBI does anything with the currency. IMF or no IMF. The words "flourish with the economy" sound pretty good to me . It is almost as if the CBI and MOF are having turf wars. They're vitriol is pretty comical. Taking their "transparency" orders over the top I guess. I picture them meeting out back in the alley like in the movie Anchorman.

[Traconesu02]

Thanks for posting VIZIOIRAQI

Very Good Doc31 - There is no way I am getting back on the LOP rollercoaster again. Was on it several times and got very ill.

Thanks drox - I like these words from CBI too:

"flourish with the economy" sounds really Great.

[woookiee]

Thanks for the post.