Parliamentary economic: delete the zeros will facilitate the theft of billions

[SocalDinar]

The parliamentary Economic Committee member Hussein almerapi, Sunday, the flop in monetary policy make the country lose about eight million dollars a year, while warning that the subject delete zeros will make it easier for mafia money laundering stolen billions without feeling State, invited to study its impact on the overall situation.

Almerapi said in an interview for alsumaria news ", the" switch currency and delete zeros needs House approval, but the Central Bank believes that the word Chapter, "Committee members expressed many reservations as Iraq today goes under many bemkhadat confusion of monetary policy tkhtabat clear and differences".

Almerapi added that "these differences up to eight million dollars annually, if the comparison between the Central Bank and courteousness of the black market, and it won obscene affect the country's economy", stating that "with the current asymmetry and of money laundering, there is significant skepticism among some MPs and parliamentary committees.

Almerapi said that "the subject is not appropriate today, because we need to review monetary policy in a scientific manner, and access to the stability in the exchange rate," he said, adding that "economic imbalances affecting the security and economic situation and to mess up at the political, economic and social."

Almerapi said that "the Central Bank warned the Committee not to take this step, only after the audit and Cabinet, given that systematic and complex Board balancing according to current currency", but saying that "insult is the lack of coordination between policy, because we do not see a view of the Central Bank on the balance and compatibility and requirements, so you should study and discuss the issue by the financial and economic committees to ESCWA participation in the Council of Ministers and the Ministry of finance to be a competent service gives its opinion in The impact of the deletion of zeros on the general situation ".

He almerapi that "theme which has zeros deleted many downsides, and we didn't see any positives, what is necessary," warning of "money laundering because the currency that will be pulled from the market the most falsified, consequently subject to washing and there will be a loss of billions of dollars without feeling the Government."

Almerapi stressed that "under the current monetary policy instability there is mafia taking advantage of asymmetry in the exchange rate and it can inject fake money in the period that the withdrawal currency towards billion, without regulators would be able to find them."

The parliamentary Finance Committee was outweighed, on August 9, 2012, through Attorney Haitham al-Jabouri to direct delete zeros and switch currency during July of next year, with the Central Bank removed all concerns, the Government will support this project with its own pros and cons.

He accused the Central Bank, in (September 12, 2011), governmental agencies of blocking reform and vowing to prosecute cash, blaming them for endangering the financial interests of the country.

Take the Prime Minister's Advisor for Economic Affairs Abdul Hussein Al-Anbuge, (25 August 2011), to raise zeros from the currency is the biggest corruption in Iraq if during this period, under the title economic absurdity, warning of "Division" is preparing to falsify trillion Iraqi dinars to replace the expected changes.

Some economists believe that Iraq is not formatted to delete zeros from Iraqi dinar, noting that deletion needs a security and political stability as well as economic stability.

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SHABS HAS OTHER OPTIONS

Edited September 23, 2012 by SocalDinar

[tandy]

SocalDinar..thx for d post...all I can say is Holy Smokes...wait a minute...maybe it should be Holy Smoke Screen...will they ever get their Mastermind together??? Their brainstorming only produces sandstorms.

[hablrob]

Blah, blah, blah. We ain't selling our IQD back, so just give up with the head fakes and RV :-)