Parliamentary economic demands Central Bank: "to speed up" the process of deleting zeros

[TBomb]

The parliamentary economic demands Central Bank "to speed up" the process of deleting zeros from currency to maintain it
Tuesday 09-07-13 10: 47 PM
 

DHI/window
Demanded the Parliament's Economic Committee, on Saturday, the Central Bank's "speed up" the process of deletion of zeros of the Iraqi currency in order to preserve them, and stressed that Iraq is not in the interest of survival of the currency this irregularly, with the deletion process will increase the value of the Iraqi dinar and reduce unemployment and poverty.

He said the decision of the Economic Commission at a press conference, Khalil mehma Committee held in the Parliament building, attended by (range), the CBI called for accelerating the process of deletion of zeros of the Iraqi currency, especially after the departure of Iraq from Chapter VII in order to keep the Iraqi currency ", stating that" the Iraqi Government previously called wait process delete zeros and did not reject the project.

Khalil said he was "not in the interest of Iraq to be done with this quantum irregular."
The Committee Member said attorney Abdel Salam Al-Maliki, "after Iraq from Chapter VII, we expect that the Government will soon move to approve the deletion of zeros from the currency, calling on the Government to" take immediate steps in this direction. "

Al-Maliki said that "the Commission will make communication with the competent authorities on this subject," he said, adding that "the deletion of zeros greater than the value of the Iraqi dinar will be reflected positively on the issue of reducing unemployment and poverty."

The CBI was confirmed, (25 April 2013), that there is no intention at this time to restructure and delete the three zeros, denying reports in this regard.
The General Secretariat of the Council of Ministers announced (April 12, 2012), wait at apply the deletion of zeros from the national currency, which require stopping all actions relating to the above process until further notice.

Some economists believe that Iraq is now prepared to delete the zeros of the dinar, stating that deletion requires political and security stability alongside economic stability. the CBI was confirmed (on 3 July 2013) that Iraq "controlling funds and Treasury of gold" in the world and is one of the banks Act, denying the existence of frozen funds "outside the control of the Iraqi administration, while Bank reserves were revealed (76) billion dollars in May last year, counting out of the chapter VII "will allow Iraq more freedom to attract foreign investments."

 

The IMF, in (23 March 2013), that fund balances in the Fund for the development of Iraq in 2012 rose to 18 billion dollars, the Central Bank's reserves of hard currency to 70 billion dollars to the increase came from "unexpected oil revenues", called on the Iraqi Government to end the dominance of State-owned banks on the banking sector, he stressed the need for Iraq to strengthen fiscal institutions to ensure efficiency and transparency in the use of oil revenues.

 

According to USAID, (3 December 2012) leads the Iraqi economy during the five-year Arabic States, asserting that Iraq possessed all the qualifications to be a strong State economically. Iraq for years trying to attract foreign capital to develop its economy in the areas of private oil industry and housing and oil and gas extraction, and to the need of funds for infrastructure development and reconstruction, the markobin contend that the lack of interest of the State to the private sector, where investment laws are free of significant safeguards for investors and absence of other laws continues Obstacles to the development of the economy as intended - (yes we need private sector development, but there are those that would argue we need to see a change in the currency so the private sector may be developed).

 

Iraq depends on who owns the fourth largest oil reserves in the world, 95 percent of its annual oil exports, currently produces around 2 million and 900,000 barrels per day, with exports up to 2 million and 200,000 barrels a day.
The UN Security Council voted Thursday, (27 June 2013), unanimously adopted a decision to eject Iraq from Chapter VII, after more than two decades of sanctions imposed by the former regime following the invasion of Kuwait on August 2, 1990.

 

 

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[Alex38]

its like ground hog day up in heeeya!!! hahahhaa

[Catluver67]

Great article!!! Thanks TBomb!!

"...with the deletion process will increase the value of the Iraqi dinar and reduce unemployment and poverty."

Sounds awesome! I'm demanding they speed up as well! : )

[EagleEye]

its like ground hog day up in heeeya!!! hahahhaa

perfect description !!! 

[Elixirbaby]

"with the deletion process will increase the value of the Iraqi dinar and reduce unemployment and poverty."

Sooooo how would a LOP Increase value, reduce unemployment and poverty??????? Riddle me that?

Go RV

[Catluver67]

"with the deletion process will increase the value of the Iraqi dinar and reduce unemployment and poverty."

Sooooo how would a LOP Increase value, reduce unemployment and poverty??????? Riddle me that?

Go RV

Exactly! The zeros are coming off the nominal rate!!! .00086 = .86 No way anyone can argue that removing the zeros is from the notes with a sentence like that!!!

[TBomb]

Exactly! The zeros are coming off the nominal rate!!! .00086 = .86 No way anyone can argue that removing the zeros is from the notes with a sentence like that!!!

 

Catluuuuuver...I luuuuv u.. giggle.

[moneysoon]

This is beggining to be too much with all of the positive news lately.

[Catluver67]

Catluuuuuver...I luuuuv u.. giggle.

 Ditto TBomb!!

[Big Newby]

Start the RV at .86....let it post on FOREX, sell according to the market, and watch int'l investors run it up to $8-$10 in the first week or so (based on Iraqi reserves of oil, gas, and gold).....I'll see you in Belize for a fat Diamond Crown cigar smoke and a cold, cold adult beverage.......

[sandfly]

THAT SOUNDS GOOD

[aliciadogz]

Thanks TBomb.

[imgesing]

And we all thought after out of chapter 7 it will change right away...

When you are most uncertain (I.e. now). The end is at hand. They are deliberately throwing us all off. They have no choice but to make it very convoluted and uncertain. We just can't predict the day or time. Yet, I believe they can not afford socioeconomicly to hold off much longer. They are like someone at a poker game being told to show their hand...

I wish we could believe any news source, let alone Iraq.

Peace all... Be patient

[Laid Back]

Give me .86

Go RV

[wesleym]

Thanks for the great read.

[teresa43]

Exactly! The zeros are coming off the nominal rate!!! .00086 = .86 No way anyone can argue that removing the zeros is from the notes with a sentence like that!!!

the article said delete the zeros from Iraqi currency so it is a lop.

[Catluver67]

the article said delete the zeros from Iraqi currency so it is a lop.

"...with the deletion process will increase the value of the Iraqi dinar and reduce unemployment and poverty."

Riddle me how that's a lop...the zeros they are referencing are LEADING zeros in the NOMINAL rate not the zeros from the notes! Otherwise the value of the dinar does NOT increase...it would stay the same!!!