Member of the parliamentary economic: the situation of the country is not conducive to the deletion of zeros from currency

[yota691]

Member of the parliamentary economic: the situation of the country is not conducive to the deletion of zeros from currency

History of edits:: 5.5.2016 10:38 • 424 visits readable

{Baghdad} Euphrates News Member of the Committee on Economy and Investment parliamentary Najiba Najib, explained that the security and political situation in the country does not help to make a decision to delete the zeros from the currency.

She said Najib told {Euphrates News} " The project to delete the zeros still exists, in terms of the study and details," after thought "but implementation delayed because of the security situation is stable." 
She added that " the political situation experienced by the country , which does not help for the success of the project," noting that " the lack of political and security stability in the country postponed the project to delete the zeros." 
the Governor of the Central Bank and the agency on the Keywords, said a former time, that " the project to delete the zeros will be implemented in early 2017, noting that the bank" began to develop the first project steps. " 
he explained " the purpose of deleting three zeros from the Iraqi currency is to support the Iraqi dinar and make it a competitor of foreign currencies." it is 
noteworthy that, the American site "how much.net", class last Saturday, the Iraqi dinar was ranked 20 among the strongest Arab currencies against the dollar, according to the published by the site from the list of the order of Arab currency exchange rate of the strongest to Alodaf.anthy 1

 

[blueskyline]

Thanks Yota . That's status quo until 2017 . Let's see how the Demenstrators "Reformers" feel about that . And the IMF 

[Jaygo]

2017? Bummer

[Gypsygirl11]

Well at least she gave a time frame, although you cant believe anything they say. Could be sooner or could be later...I vote for sooner. The oil and gas law is up for vote again so who knows - could be sooner.

[10 YEARS LATER]

Gotta be smoke - these apes are outta time. They've already " Stormed the Castle " once ( peace-able like ) - next time won't be pretty. It's as if some wanted to to throw the country into Civil War with all this irresponsible drivel. Folks is PI$$ED OFF !

More the Fools are they if these bureaucrats think this sort of claptrap will appease an ever increasing out of patience population, angry at their Government's foot dragging, corruption & impotence.

Well, one way or the other, we'll know soon enough whether or not the IQD will be worth something or just the prettiest damned wall paper to ever adorn a Bathroom.

Edited May 5, 2016 by 10 YEARS LATER

[Boozer]

1 hour ago, 10 YEARS LATER said:

Gotta be smoke - these apes are outta time. They've already " Stormed the Castle " once ( peace-able like ) - next time won't be pretty. It's as if some wanted to to throw the country into Civil War with all this irresponsible drivel. Folks is PI$$ED OFF !

More the Fools are they if these bureaucrats think this sort of claptrap will appease an ever increasing out of patience population, angry at their Government's foot dragging, corruption & impotence.

Well, one way or the other, we'll know soon enough whether or not the IQD will be worth something or just the prettiest damned wall paper to ever adorn a Bathroom.

It will adorn something in the bathroom but it wont be the wall...

[Synopsis]

The article states, "She added that " the political situation experienced by the country , which does not help for the success of the project," noting that " the lack of political and security stability in the country postponed the project to delete the zeros."" 

Looks like the CBI intended to implement the project to delete the zeros (not sure when exactly) but delayed because of the political and security issues Iraq is facing.  I can't help but wonder if Maliki and associates are using the ISIS issue(s) and instigating the cabinet replacement/parliament upheavals to derail the whole project to delete the zeros so they can further line their pockets with absconded CBI funds and, more importantly, avoid broadcasting of and prosecution for their crimes.

In my opinion, the softest area now is implementing the cabinet technocrats and getting the GOI back on track so the reforms can be voted on/approved and then implemented.  I think next week through the end of May (2016) will be really telling for how successful the cabinet changes and reform approval/implementation will be.  All told, I suspect the strong encouragement/incentives by world bodies (IMF, WB, US, UN, Coalitions Forces, etc.) to get these things in place will accelerate their successful completion.

With al-Baghdadi giving the order to withdraw ISIS from Iraq and the anticipated Federal Court reforms implemented, I suspect Maliki will then be left to hang (literally).  I also suspect Maliki's atrocities will be broadcasted prolifically to the masses and a cry for swift justice by the masses will potentially be met through the reformed Federal Court.  A possible alternate is to extradite Maliki to the ICC for prosecution.  Either way, I suspect Maliki (and associates) days are numbered and Iraq will experience political and security stability (with ISIS removed from Iraq).  If I understand correctly, no politician can leave Iraq now and serving indictments/taking into custody should be fairly easy.

This could drag on forever.  I think, however, the 2017 schedule for implementing the deletion of the zeros project mentioned in the article could be significantly accelerated if ISIS is fully expelled from Iraq and the cabinet change/GOI improved performance/reforms approval/implementation is in place.  The external money can then flow freely into Iraq for rebuilding Iraq.  With the necessary goods Iraq needs and the need to export things other than oil, I suspect WTO approval will be in the news and, of course, Iraq will need an internationally traded currency (bingo for us).

[boosterbglee]

Thanks Synopsis...always like your input!

[Synopsis]

32 minutes ago, boosterbglee said:

Thanks Synopsis...always like your input!

Thank You, Boosterbglee.  I'm thinking the glass is filling up with tasty, cool, and delicious milk and honey versus a bowl of cocoa pebbles with some (not so) goodies mixed in!

[markb57]

more of these lame excuses for the deletion of zero's project. honestly, what country has perfect peace and stability?? and do we have a consensus as to what the deletion of zero's really means? the only instability issue I see is the HCL. No country in the middle east will be 100% peaceful and stable. They're just not wired that way in their DNA.They need to rv the dinar and get the jobs flowing. That alone will stabilize and calm the country down.IMO.

[EagleEye]

I have always felt that Najib was a shill for Malarkey Synopsis...you may be right....however my hope is that Abadi will stand firm and oil and gas will trigger the right response....

[TennesseeCherokee]

It's not the parliamentary economic members responsibility  to decide when or if their currency changes value...... that is the Central Bank & the IMF's decision. 

Parliament's sole responsibility lies in passing the laws that give strength and protection, ONLY!

We have seen this happen before. In 2012, Dr. Shabibi was about to give the dinar it's true value, all of Maliki's parrots began screaming, "not now, it's not the right time." Not their call then, and not now.

Shortly after Shabibi met with parliament in 2012 to explain his plan,   Maliki, while Dr. Shabibi was away at a business conference in Japan, charged the good doctor with terrorism.

Now is the time for Abaidi, Barham Saleh, Masum, Sadr, Barzani and Jubouri to nail Maliki's coffin shut and move Iraq to it's just place in the international arena.

Edited May 5, 2016 by TennesseeCherokee
Spelling Error

[TQueezy]

There has definitely never been an agreed definition of what delete the zeros means. And for security and stability, of course there will never be 100%, but I think they're looking for at least 95%, meaning Parliament is formed with people actually doing their jobs and not squabbling over political differences and money, and security pushing out all but the smallest circles and groups of violent terrorists. Until Shi'ite and Sunnin eventually mutually destroy each other, there will always be a small presence of that notion in any situation. But as long as they can keep it mostly contained, I think the CBI, ministry of finance, and other players involved could approve of a rate change/currency reform.

[Synopsis]

57 minutes ago, EagleEye said:

I have always felt that Najib was a shill for Malarkey Synopsis...you may be right....however my hope is that Abadi will stand firm and oil and gas will trigger the right response....

One scenario I have been pondering is, at a certain (trigger) point, the flood gate of news will open on the most corrupt and targeted politicians/family members/ associates/etc. with their crimes and how they have been affiliated. So Maliki, Najib, and others will be left with no defense and no escape.  The oil and gas (positive) may be a trigger but a known or unknown (yet to be seen) negative may inseparably unite a substantial portion of the Iraqi populous (crossing all - or mostly all - the sectarian, political, and religious affiliations) so the populous will clamor for justice and righting of the wrongs (compensation).  I suspect Abadi, Jabouri, and Masum will then graciously oblige with a generally compliant cabinet and parliament.  Talk about National Reconciliation and solidarity!  Win/Win for everybody - including us!

Just thinking out loud.

[10 YEARS LATER]

2 hours ago, markb57 said:

more of these lame excuses for the deletion of zero's project. honestly, what country has perfect peace and stability?? and do we have a consensus as to what the deletion of zero's really means? the only instability issue I see is the HCL. No country in the middle east will be 100% peaceful and stable. They're just not wired that way in their DNA.They need to rv the dinar and get the jobs flowing. That alone will stabilize and calm the country down.IMO.

Precisely . . . enough of the rhetorical  excuses. I know these folks ain't wired the same way Westerners are, but geez, really ? Are they THAT DAFT they can't see the most Captain Obvious Moment EVER ?

[Shedagal]

Have an RV, six months to exchange, and delete zeros in early 2017. 

[Synopsis]

20 minutes ago, Shedagal said:

Have an RV, six months to exchange, and delete zeros in early 2017. 

I like that scenario!

[EagleEye]

Works for me too