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Economists: the present time is not suitable to replace the Iraqi currency

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Economists: the present time is not suitable to replace the Iraqi currency

Written by: Citizen newspaper | printButton.png| Hits: 13
 

Citizen _ dreams Frejee 

after preparations long it took 5 years for the process to delete the zeros and replace the Iraqi currency came today to announce the central bank to stop these measures and postponed to another slogan for many reasons hindered the march of the central bank in the removal of three zeroes, bankers said (citizen) .. that the present time is suitable for the replacement of the currency and favored the postponement of the project to the time of the restoration of security in Iraq. 

said economic expert and academic at the University of Mustansiriya Abdul Rahman Karim al-Tai (citizen) .. "The present time is not suitable for the replacement of the currency and the idea postponed a good idea." 

added al-Tai "There are not any economic feasibility of the issue of removing the yellowing of the currency in light of the survival rates unchanged, indicating that the "re-printed paper currency new and drain the old currency needed to machinery and equipment printed a new and expensive." 

and explained that the situation in Iraq was today, both economic and security is unstable and therefore There are concerns too big of a shrinking currency may suggest to savers increase the value of their currency and thus went savers to banks in order to pull Mbalghm cash saved in banks and this would be confusing banking business in Iraq, which is characterized by the fact that the sector Almervi Iraqi sector Almtlki. 

, and went on to say that "the preparation five-year plans must take into consideration the issue of deletion of zeros, especially that the Ministry of Planning prepared a five-year plan for 2017, especially as the investment projects large part of which has been forwarded to foreign companies has been agreed with the existing currency, not the currency futures (currency zeroes deleted) and thus, there is confusion for for companies investing overseas after the re agreement with respect to the new currency. 

while said member of the Finance Committee MP Najiba Najib, (citizen) .. "The central bank is costly process to delete the zeros and the replacement of the currency, but the reluctance of the currency led to a delay in the project." 

added Najib said that "the issue of Time is important, but what is important is that all the procedures at the central bank is ready to start the project and all the conditions are ripe for him to not encounter obstacles and vibration market. " 

She said, "take measures to ensure the precautions taken to ensure the success of the subject and the project will be in all the provinces and must be public awareness if These measures will not take Time is not suitable for this project. " 

It is noteworthy that the central bank announced disable the project to delete the three zeroes and replacing the currency being the Arbakan the Iraqi market. "

 

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ya  know  nothing better than  worn out -- yellowing --- ripped - torn   paper dinars ,  and  not to mention they are going to rely on this crap  paper for 3 more years ....  hahahhaha   what a maroon ....   {  yes  the paper is no good , but what will  take over is the smart cards ,  they are trying to get  every one in the region to use these cards ,  so they will not need to buy  a printer, and  ink, and the  guys to make the plates  to do the printing ,  all they need is  a  computer  linked up too the smart card devise , and  send  out  numbers only .....  }



I am  now wondering  if they  actually  pay these  economist,  or  do they tell them  ---  do a study on  the currency  issues , if it is a good report we will pay you  handsomely , <-------  so  far those reports  must be paying off well ,  the  only dang report we keep seeing  is put off the printing , and lifting of  zero`s  <_<

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oh boy another serving of lima beans  just add it to the salad bar of confusion pretty soon we will be smelling lamb chops then we will have a full buffet and feast like gluttonous kings. Hear Hear

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Why just last week, their so called economist, said the time was perfect to issue new currency. They have held the exchange rate stable, and everything was right. I'm going to work. Have a good day fellow dinarians! Thanks for the post.

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There are concerns too big of a shrinking currency may suggest to savers increase the value of their currency and thus went savers to banks in order to pull Mbalghm cash saved in banks and this would be confusing banking business in Iraq, which is characterized by the fact that the sector Almervi Iraqi sector Almtlki.

That part leads me to think the removing of zeros may not be the dreaded LOP many on here think it is.

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There are concerns too big of a shrinking currency may suggest to savers increase the value of their currency and thus went savers to banks in order to pull Mbalghm cash saved in banks and this would be confusing banking business in Iraq, which is characterized by the fact that the sector Almervi Iraqi sector Almtlki.

That part leads me to think the removing of zeros may not be the dreaded LOP many on here think it is.

Good point.

ya  know  nothing better than  worn out -- yellowing --- ripped - torn   paper dinars ,  and  not to mention they are going to rely on this crap  paper for 3 more years ....  hahahhaha   what a maroon ....   {  yes  the paper is no good , but what will  take over is the smart cards ,  they are trying to get  every one in the region to use these cards ,  so they will not need to buy  a printer, and  ink, and the  guys to make the plates  to do the printing ,  all they need is  a  computer  linked up too the smart card devise , and  send  out  numbers only .....  }

I am  now wondering  if they  actually  pay these  economist,  or  do they tell them  ---  do a study on  the currency  issues , if it is a good report we will pay you  handsomely , <-------  so  far those reports  must be paying off well ,  the  only dang report we keep seeing  is put off the printing , and lifting of  zero`s  <_<

Actually Jeepguy the cards do take care of many issues.  The paper dinar will not last, but the cards will save them the expense of printing new dinars.

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There are concerns too big of a shrinking currency may suggest to savers increase the value of their currency and thus went savers to banks in order to pull Mbalghm cash saved in banks and this would be confusing banking business in Iraq, which is characterized by the fact that the sector Almervi Iraqi sector Almtlki.

That part leads me to think the removing of zeros may not be the dreaded LOP many on here think it is.

i totally disagree. removing zeroes is and can be only one thing. the title of this article is about REPLACING the currency. which only gives more credence to deleting zeroes being a neutral exchange.

the part your looking it, is the psychological reaction to replacing the currency.

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If they were just going to lop why wouldn't they have done it already. Assim that already distrusts the banks now has to get his 10 friends with wheel barrows to help him buy groceries. Yeah makes perfect sense.

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If they were just going to lop why wouldn't they have done it already. Assim that already distrusts the banks now has to get his 10 friends with wheel barrows to help him buy groceries. Yeah makes perfect sense.

A redenomination takes some time and some planning.  However they have been discussing it for years I would think by now they would have started the countdown, if they were going to do it.  It appears the government is in favor of it, and Turki is not at this point in time.  So what is the problem?  The old dinar is dilapidated, the people are complaining, maybe they are waiting for the smart cards to show up.  Now an RV they can do any old day, but they have not.

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said economic expert and academic at the University of Mustansiriya Abdul Rahman Karim al-Tai (citizen) .. "The present time is not suitable for the replacement of the currency and the idea postponed a good idea." 

 

and explained that the situation in Iraq was today, both economic and security is unstable and therefore There are concerns too big of a shrinking currency may suggest to savers increase the value of their currency and thus went savers to banks in order to pull Mbalghm cash saved in banks and this would be confusing banking business in Iraq, which is characterized by the fact that the sector Almervi Iraqi sector Almtlki. 

 as the investment projects large part of which has been forwarded to foreign companies has been agreed with the existing currency, not the currency futures (currency zeroes deleted) and thus, there is confusion for for companies investing overseas after the re agreement with respect to the new currency. 

added Najib said that "the issue of Time is important, but what is important is that all the procedures at the central bank is ready to start the project and all the conditions are ripe for him to not encounter obstacles and vibration market.

 

 

First, one can WAIT until doom's day for the RIGHT TIME to anything and it will never arrive.  Some people will say "it isn't time" no matter how "good" the times are for that event to take place.  There will always be naysayers with any project.  Move on and do the right thing for the people NOW.  Make adjustments and continue to move forward.  Sedentary positions will result in stagnation.  If I had waited for the "right time" to propose to my wife, I would still be single.  

 

Revaluation of the currency would make the "renegotiation" of contracts a necessity, but I don't know of any corporation or government that doesn't  do this on a daily basis!  If they didn't, they would be out of business.  Just revalue and any company can lead you through renegotiation process.  

 

Every business is geared to handling obstacles! Obstacles are part of a business projection into the future.  Banks, businesses, and individuals should be ready and willing to encounter "obstacles" in reaching goals.  For this "economist" to think that everything must be perfect before revaluation means that he/she is living in a dream world.  

 

JMO - SMOKE!!!

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