Parliamentary Energy: raise zeros will not affect oil prices

[k98nights]

Parliamentary Energy: raise zeros will not affect oil prices

Special / newspaper integrity / Mustafa al-Araji - The Energy Committee and member of the parliamentary oil Ugaili Aziz, said Tuesday that "raise zeros from the Iraqi dinar will not affect the low oil prices, the fact that specific prices in US dollars.

Ugaili said in a statement (newspaper integrity) that "the value of the Iraqi oil prices are in dollars, but the lifting of the zeroes will lead to an increase in commodity prices in the country.

Ugaili ruled that "the lifting of the zeroes from the Iraqi currency will be in the coming period specifically in the next year 2015.anthy 4

http://alestiqama.com/?p=137896

[tankdude]

"Ugaili ruled that "the lifting of the zeroes from the Iraqi currency will be in the coming period specifically in the next year 2015."

 

I'm REALLY liking that!!!      

 

[Freedomwish]

   

[k98nights]

Yep... get it done!! 

[Boozer]

it wont affect oil prices ..BUT it will affect my bank account       

[k98nights]

it wont affect oil prices ..BUT it will affect my bank account       

Yes indeed!!!

[Djorgie]

"Ugaili ruled that "the lifting of the zeroes from the Iraqi currency will be in the coming period specifically in the next year 2015."

 

I'm REALLY liking that!!!      

 

Me Too!

 

Let's hope they continue along with getting things done at the resonable rate (no pun intended) they have since the new GOI came into play. Would be so nice to see some good things happpening for the Iraqi people finally... and for us as well LOL.

[magawatt]

21 dinars per barrel would be about right.

[vomer]

I hope 'raise zeros' means what we want it to mean. 

[sharkbait]

Thanks! Get 'er done, Indeed!

[unirod]

I understand that currently many of Iraq's commodity prices are under strict controls to protect the interests of the poor. The coming period must be deregulation of price controls and a free market taking over in Iraq. This would mean even the poor will have real financial opportunity!

Give the poor a Dinar that will have real value!

[NWGUY]

Thanks for the post 98!!!

 

It would be great for the Iraqi, since they lost their value overnight, that they get it all back overnight!!! 

 

Now, I wasn't there when they lost their wealth, but I sure want to be there, when they get it back!!!

 

Go RV or RI Soon!!!

[taji2]

What next period are they alluding to in 2015?

[v-star 650]

taji 2   -------->  lets  say 1  2015    

[siberian_shaddow]

Much Appreciated K98, if the lifting of the zeros gets to heavy I would be more then happy to help you lift them. Go Iraq

[10 YEARS LATER]

 . . . yeah, but when "next year does anyone think he is referring to ? [ January ? ] . . . not trying to shoot a water cannon at the campfire.

[gregp]

You're the man Woody!

[Tirebiter]

. . . yeah, but when "next year does anyone think he is referring to ? [ January ? ] . . . not tryiing to shoot a water cannon at the campfire.

Not sure. But I do like he says 2015.

[Papermaker]

I will be actually able to fill up my tank!! Woohoo

[WheresmyRV?]

1st quarter in 2015!  C'mon Iraq!! 

[deniscanada]

Bing translation

The parliamentary energy announces that leading zeros will not affect oil prices and criticism of the Central Bank

Posted on: 09 December 2014

  Member of the Parliamentary Committee on oil and energy, Aziz Al-uqaili, said Tuesday that "raise zeros from the Iraqi dinar will not affect the low oil prices that specific prices in US dollars .
He said Al-uqaili told press looked it (Mesopotamia) that "the value of Iraqi oil, prices are in dollars, but raise zeros will raise the prices of goods in the country . 
Al-uqaili, ruled out that the zeros of the Iraqi currency will be during the next period the next year 2015.
He criticized a number of experts and specialists in financial and Economic Affairs, the Central Bank's policy of issuing new editions of large segments of the coin, with the action being warned of increasing inflation, causing economic confusion and RCODE local market. and according to JD News Agency the importance of moving and accelerate the implementation of the project to delete the three zeros from the currency and not resort to caning prosthetic solutions new editions, the fact that this project recreates the structure of currency and increases strength and improves their performance locally and FRY,.
The Central Bank said earlier that the project still exists but zeros deleted when execution unspecified, while revealing his intention to issue coins of great categories as category (50) thousand and 100 thousand dinars, and reprint the current currency until the project. expert in financial and banking Affairs Mohsen Ali, said: "the project of three zeros from the currency, deletion is one of the strategic projects and reliable by the Central Bank, it will restructure the Iraqi currency and reduces the money supply in circulation because it Large numbers will decrease as the trillions and billions and other".
He said that "this project will serve the State in many ways, the balance of inflation, and facilitate the preparation of annual budgets for the State or ministries or departments, and reduce errors in the financial accounts, as well as the Iraqi dinar will return to the regional and global stature." he noted: "the Central Bank when it drafted the three zeros from the currency, deletion was intended to reduce large cash blocks and create a balance in the market, inflation rates cannot be reprints of large groups, because they are considered by the Prosthesis serves the country, but it would hurt the economy in terms of increased inflation stasis in the market".
While Economist Mohammed dargham, said: "the issue of the restructuring of the currency would be useless without a project delete three zeros from the currency for the purposes of administrative, organizational and legal at the same time," explained Mohammad Ali told the press that "the issuance of currency with a large high security specifications the shuttle's fiery disintegration need to delete the zeros will transfer the balance of the altrilionih box to box almliaret and that fit the budgets of neighbouring States and to reduce disparities between the dinar and currencies in the account – for arithmetically Iraqi dinar".
He noted: "the substitution processes and version for the new classes are partial and incomplete structure of the currency welatlbi all the needs of the Iraqi market, but need to delete the zeros, the Iraqi dinar exchange rate is relatively stable, which makes land clearing for new categories," adding: "the deletion of three zeros from the currency has become a mature and appropriate climate, calling on the Central Bank to" accelerate the implementation of the project to delete zeros and not to issue editions of large groups because it would harm the market".
As Rapporteur of the Committee on the economy in the previous parliamentary session, former Deputy mahma Khalil, refer "because the deletion of zeros from the Central Bank that the previous Government had stood against the tenfail decision of the project on the grounds of fear of counterfeiting", calling it "unjustified" order, especially the regional climate is appropriate after the departure of Iraq from Chapter VII global investment companies raced to invest in Iraq, as well as the stability of the dinar exchange rate.
He criticized Khalil in an interview "the new Central Bank measures to issue new paper editions large groups, because it would harm the Iraqi market in terms of increasing inflation, and also to obstruct the implementation of the draft restructuring of the Iraqi currency after the deletion of three zeros from them." The General Secretariat of the Council of Ministers announced on (12 April 2012), the wait at apply the deletion of zeros from the national currency, which require stopping all actions relating to the above process until further notice.
The Iraqi Central Bank, previously revealed his intention to issue coins in small groups, indicating that these currencies will be written in both Arabic and Kurdish, saying a proposal for large banknotes worth fifty thousand dinars and former Central Bank Governor Abdel Basset Turki said earlier: that the Central Bank is currently working with tables under the supervision of specialized committees for the issuance of a new currency of large groups. And the Turkish largest category of coins available now is the 25 000 Iraqi dinar and buying power with not more than 23 dollars, so there is more of a proposal to the Central Bank, to ask more of the existing currencies, such as the issuing of up to 1,000 dinars (50).
The Turkish Central Bank also issued coins are small, the absence of these classes that facilitate the process of dealing and purchase between the citizen and the Iraqi market, which was the Central Bank's handling of the.

 

http://www.microsofttranslator.com/bv.aspx?&lo=SS&from=&to=en&a=http%3A%2F%2Fwww.alrafidayn.net%2Findex.php%2Fresponsive%2F3877-2014-12-09-13-14-44

Edited December 10, 2014 by deniscanada

[easyrider]

so this is implying they are gonna do this why oil is low. This month we may see the lifting of the 3 zeroes.

[DinarWhiz]

Or next year and oil will go lower.

[Laid Back]

Increase the exchange rate, collect all 000's notes in 2 years. At the same introduce lower denomination notes.!

Go Iraq Go strong

[sandfly]

THANKS