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Parliamentary Finance intends to reintroduce the coin ... Another proposal to delete the zeros

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7 hours ago, Engine1 said:

Yup I kept up with this and always will just incase I am wrong.  I just dont see it happening.  But like I said been here since 2005 and nothing.  Waste of time I dont know I follow this in my free time ( you know sitting around watching TV, wasting time in front of the boob tube.)  

From the very first time that I searched Iraq dinar on the internet it came up with scam. But the reasoning I felt was wrong. I always thought Iraq had a lot of valuable resources and potential and that I was investing in a currency that was at rock bottom and even if it went up a penny I would make money. Then there was a lot of speculation that it was going to go a lot lot higher. So if it doesn't RV, the money I invested would be gone anyways and nothing lost. But if it does RV then I retire and I dont have to work for the next 10 or 15 years. I'm glad I invested. Something seems like it's going to happen soon and now we wait. Good luck all.

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8 hours ago, new york kevin said:

Are they gonna introduce the coin after they RV, or before ? After the RV 🤗 , before the RV 🤤😣😂

I would say it would be simultaneously. They increase the rate and then you go to the bank and exchange it at the bank and deposit your cash or exchange some for smaller denoms to spend. 

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10 minutes ago, jg1 said:

From the very first time that I searched Iraq dinar on the internet it came up with scam. But the reasoning I felt was wrong. I always thought Iraq had a lot of valuable resources and potential and that I was investing in a currency that was at rock bottom and even if it went up a penny I would make money. Then there was a lot of speculation that it was going to go a lot lot higher. So if it doesn't RV, the money I invested would be gone anyways and nothing lost. But if it does RV then I retire and I dont have to work for the next 10 or 15 years. I'm glad I invested. Something seems like it's going to happen soon and now we wait. Good luck all.

To say this is a scam(I don't mean you) but anyone on the internet is ignorant. For many years you could go to a few banks and buy this like 5th and 3rd bank. The US passed a law to say we could buy it. And when I go to the sites I bought my dinar years ago, you can't even buy a million dinar all at once, you have to buy them in half million bundles and the price is higher. I used to get a million dinar for 960. Now it would cost me 1600 and I'd have to buy two half million bundles from the same site. They used to sell dinar in tens of millions at a time, so it has definitely increased in value and supply seems to be tighter.

On top of that, some sites will buy your dinar back and you can pretty much break even depending on what you paid for it.

Put the scam argument to rest right next to the lop grave.

 

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We just wait and see.  We may get 2 or 3 times out money back or we may get 1000 times are money back.   Hopefully this will be a rare "if it's to good to be true, it was" moment .

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I know a man from Iraq, who told me to buy some dinars and one day I would be well to do . Just a thought,  Friends.

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10 hours ago, Arceo said:

So you been reading nonsense passed the first year?

Learn how to spell before you rip on people personally,  and you might not come off as a passive/aggressive basement troll here.

 

Attacking someone's manhood...

 

Really? 

 

 

 

 

 

 

Edited by justchecking123
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27 minutes ago, justchecking123 said:

Learn how to spell before you rip on people personally,  and you might not come off as a passive/aggressive basement troll here.

 

Attacking someone's manhood...

 

Really? 

 

 

 

 

 

 

 

17 minutes ago, Arceo said:

 

Past. Sorry grammar police my iPhone is smarter than me. I’ll take it though. Rather use the wrong word than read something for 15 years watching while watching boob tube probably the whole time. 😂

 

Arceo I think you missed the point. It wasn’t so much about your grammar, as your uncalled for insults making you come off as a troll. We are one big dysfunctional

family. 😎  

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40 minutes ago, denster said:

I know a man from Iraq, who told me to buy some dinars and one day I would be well to do . Just a thought,  Friends.

I once knew a man from Bagdhad,

Who mattressed all dinar that he had.

One night in great glee, he dreamed it RV'd,

And by morning his chunky money was swimming in pee.

 

 

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2 hours ago, keylime said:

I once knew a man from Bagdhad,

 

I Was Out With My Girlfriend Named Jeannie !

 

When I Accidentally Spilled Some Gin On My Weenie ! :o 

 

I Thought Was Uncouth !

 

So I Just Poured On Some Vermouth ! ;) 

 

And Then Slipped Her A Dry Martini ...

 

:D  :D  :D 

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3 hours ago, denster said:

I know a man from Iraq, who told me to buy some dinars and one day I would be well to do . Just a thought,  Friends.

I don't believe this is a scam, we're just hearing maybe disinformation. I have a friend that was a soldier in the Iraq War. President Bush went to visit soldiers in the hospital where he was, and told them all to keep their dinar because it would have value. This is what my friend told me. Sure, we are all getting frustrated I've been in this investment for years and years and years and years almost 10, I know folks have been on here longer than I have. But you gotta admit the information coming out now it's far more different than it was last year. I say don't give up.

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22 hours ago, Mary B said:

Specialized: minted coins serve internal business transactions

Monday, August 26, 2019 93

 

Here’s A Highlighted One ! ;) 

 

:D  :D  :D 

 

 

 

Specialized: minted coins serve internal business transactions

 

Monday, August 26, 2019

 

alsabaah-18057.jpg

Emad Emirate Baghdad / Mustafa Al - Hashimi 

 

There have been recent parliamentary voices calling for the reintroduction of coins (coinage) and reintroduction into circulation, as well as reconsideration of the project to delete the three zeros from the Iraqi currency, at a time when economists regarded it as part of the great economic reform process in the country.

 
 
Strategic Plan
Economist Dr. Essam Mohamed Hassan said that "the Central Bank decided earlier to develop a plan to create coins as part of a restructuring plan that requires the approval of the House of Representatives as a strategic plan will contribute to support system" rel="">support the value of the Iraqi dinar in trading 
"The change of currency means that a new currency replaces an old currency, with a specified replacement rate, and removes the zeros of the old currency or moves the decimal places to the left," he said. Financial support system" rel="">support for the national economy. "
Hassan said that "the coin project, launched in 2004 did not succeed because of the absence of comprehensive economic reforms to support system" rel="">support the financial value of the dinar in the global market," explaining that the coins will be one of the important intermediate currencies that will be used for trading and transactions. 
"Deleting zeros and reintroducing coins has to do with economic reforms because coins, because of their durability, are longer than coins that are quickly damaged," he said. In 2004, "indicating that this requires the dissemination of a culture to educate the public about the economic feasibility of the minted currency." 
 
Delete the zeros
Dr. Abdul Hussein Al-Ghalbi, an economist at the Faculty of Business and Economics, University of Kufa, said: "The process of changing the currency is not limited to deleting zeros, but it can be done by adding a number of zeros or moving the decimal places to the right, as happened in South Africa in 1961, but the situation Prevailing over the past 50 years in most countries is the elimination of zeros because of the hyperinflation witnessed by many countries, which obliges to add zeros to their currencies in those circumstances, and then get rid of zeros at the end 
Al-Ghalbi stressed that "changing the currency does not affect productivity, as well as that this change does not affect the purchasing power of money, because the power comes from the increased demand for money against the money supply, and as long as the purchasing power does not change, the demand for currency and money supply They do not change, because deleting zeros does not entitle monetary institutions and the central bank to print more money and pump it into 
Economy".
Al-Ghalbi added that "the central bank is constrained by the existing cash in the process of replacement, but foreign trade will not be affected as the price of exports will remain the same unchanged, as well as import payments are not affected because foreign exchange is in foreign currency versus domestic, which remains unchanged because The purchasing power of a currency do not change".
 
Multiple benefits
"Changing currency and deleting zeros brings multiple benefits," said Al-Ghalbi. Public".
 He pointed out that "after the change of currency will occur a serious reduction in the volume of transactions with less amount of money, which facilitates all parties to deal with, especially Accountants. "
 
Monetary deception
Al-Ghalbi said that "currency change reduces the phenomenon of monetary deception experienced by people with a large number of zeros that are pushing towards generating inflationary pressures. Of inflation Untamed. "
He added that "currency change leads to greater confidence in local currency and credibility, and when there are a large number of zeros in the local currency people lose their confidence, especially those with transactions in wholesale markets and importers, as they will replace the local currency with stable international currencies such as the dollar or the euro, which deepens The phenomenon of dollarization in the domestic economy, which weakens monetary authority and reduces the effectiveness of policy Cash.

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21 minutes ago, DinarThug said:

 

I Was Out With My Girlfriend Named Jeannie !

 

When I Accidentally Spilled Some Gin On My Weenie ! :o 

 

I Thought Was Uncouth !

 

So I Just Poured On Some Vermouth ! ;) 

 

And Then Slipped Her A Dry Martini ...

 

:D  :D  :D 

Thug have you heard grom Sandfly?

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3 minutes ago, DinarThug said:

 

Here’s A Highlighted One ! ;) 

 

:D  :D  :D 

 

 

 

Specialized: minted coins serve internal business transactions

 

Monday, August 26, 2019

 

alsabaah-18057.jpg

Emad Emirate Baghdad / Mustafa Al - Hashimi 

 

There have been recent parliamentary voices calling for the reintroduction of coins (coinage) and reintroduction into circulation, as well as reconsideration of the project to delete the three zeros from the Iraqi currency, at a time when economists regarded it as part of the great economic reform process in the country.

 
 
Strategic Plan
Economist Dr. Essam Mohamed Hassan said that "the Central Bank decided earlier to develop a plan to create coins as part of a restructuring plan that requires the approval of the House of Representatives as a strategic plan will contribute to support system" rel="">support the value of the Iraqi dinar in trading 
"The change of currency means that a new currency replaces an old currency, with a specified replacement rate, and removes the zeros of the old currency or moves the decimal places to the left," he said. Financial support system" rel="">support for the national economy. "
Hassan said that "the coin project, launched in 2004 did not succeed because of the absence of comprehensive economic reforms to support system" rel="">support the financial value of the dinar in the global market," explaining that the coins will be one of the important intermediate currencies that will be used for trading and transactions. 
"Deleting zeros and reintroducing coins has to do with economic reforms because coins, because of their durability, are longer than coins that are quickly damaged," he said. In 2004, "indicating that this requires the dissemination of a culture to educate the public about the economic feasibility of the minted currency." 
 
Delete the zeros
Dr. Abdul Hussein Al-Ghalbi, an economist at the Faculty of Business and Economics, University of Kufa, said: "The process of changing the currency is not limited to deleting zeros, but it can be done by adding a number of zeros or moving the decimal places to the right, as happened in South Africa in 1961, but the situation Prevailing over the past 50 years in most countries is the elimination of zeros because of the hyperinflation witnessed by many countries, which obliges to add zeros to their currencies in those circumstances, and then get rid of zeros at the end 
Al-Ghalbi stressed that "changing the currency does not affect productivity, as well as that this change does not affect the purchasing power of money, because the power comes from the increased demand for money against the money supply, and as long as the purchasing power does not change, the demand for currency and money supply They do not change, because deleting zeros does not entitle monetary institutions and the central bank to print more money and pump it into 
Economy".
Al-Ghalbi added that "the central bank is constrained by the existing cash in the process of replacement, but foreign trade will not be affected as the price of exports will remain the same unchanged, as well as import payments are not affected because foreign exchange is in foreign currency versus domestic, which remains unchanged because The purchasing power of a currency do not change".
 
Multiple benefits
"Changing currency and deleting zeros brings multiple benefits," said Al-Ghalbi. Public".
 He pointed out that "after the change of currency will occur a serious reduction in the volume of transactions with less amount of money, which facilitates all parties to deal with, especially Accountants. "
 
Monetary deception
Al-Ghalbi said that "currency change reduces the phenomenon of monetary deception experienced by people with a large number of zeros that are pushing towards generating inflationary pressures. Of inflation Untamed. "
He added that "currency change leads to greater confidence in local currency and credibility, and when there are a large number of zeros in the local currency people lose their confidence, especially those with transactions in wholesale markets and importers, as they will replace the local currency with stable international currencies such as the dollar or the euro, which deepens The phenomenon of dollarization in the domestic economy, which weakens monetary authority and reduces the effectiveness of policy Cash.

link

 

Now my head is spinning...

 

B/A

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4 minutes ago, bostonangler said:

 

Now my head is spinning...

 

B/A

My head spinning from the colors haha..But Thug got the best breakdowns in the game tho.

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14 minutes ago, fancy said:

Thug have you heard grom Sandfly?

 

No - He’s From The Philippines Though And Whenever He Would Go Home On Leave To Visit We Wouldn’t Hear From Him Until He Got Back To Afghanistan ! ;) 

 

 

 

He Only Ever Posted From His Base - So I Think That He May Have Finally Finished His Tour Of Duty And Is Probably Just Busy With His Wife Back Home And Making Little SandFly’s ! :o 

 

:D  :D  :D 

 

Edited by DinarThug
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11 minutes ago, Arceo said:

But Thug got the best breakdowns in the game tho.

 

Oh Ya - I Got Game Cuhh ! :o 

 
Funny Video, Dog, Dribble, Ball, Gif
 
:D  :D  :D 
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When a country redenominate or restructure their currency,

process-wise ~ there's not much diff between lopping and revaluation.
Both will come out with a new set of currencies ~ eventually replacing the old ones.


Both currencies will co exist for a specified period of time....etc etc.

 

The only diff is:

lopping will have two diff exchange rate; one for old and one for new....

While revaluation ~ will have the same exchange rate for both old and new.

So from the news, u can't really tell which way they will be going.


Whatever they are planning to do with their currency, i hope they will factor in on how to make good the financial losses of the inflation and war, suffered by their people. 

(Note: German did that in 1961)

 * Some unfortunate Iraqis actually suffered financial losses when their bank accounts were frozen, and the gov took/used their money to fund the war....
While some others lost their money to inflations (caused by the war).

 
And.........since they are moving towards open economy, i'm sure their monetary policy will not just focus on domestic behaviour (like from 2003 until now), but will be looking outward as well, taking into considerations foreign pressure and how it will affect their country and citizens.

 

Deleting zeros is supposed to be something huge ~ bringing back glory and pride to the country Iraq.

I just don't see that much glory if they are planning on a neutral event.

 

:rodeo: That's why I'm still on this crazy horse.

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17 minutes ago, zul said:

When a country redenominate or restructure their currency,

process-wise ~ there's not much diff between lopping and revaluation.
Both will come out with a new set of currencies ~ eventually replacing the old ones.


Both currencies will co exist for a specified period of time....etc etc.

 

The only diff is:

lopping will have two diff exchange rate; one for old and one for new....

While revaluation ~ will have the same exchange rate for both old and new.

So from the news, u can't really tell which way they will be going.


Whatever they are planning to do with their currency, i hope they will factor in on how to make good the financial losses of the inflation and war, suffered by their people. 

(Note: German did that in 1961)

 * Some unfortunate Iraqis actually suffered financial losses when their bank accounts were frozen, and the gov took/used their money to fund the war....
While some others lost their money to inflations (caused by the war).

 
And.........since they are moving towards open economy, i'm sure their monetary policy will not just focus on domestic behaviour (like from 2003 until now), but will be looking outward as well, taking into considerations foreign pressure and how it will affect their country and citizens.

 

Deleting zeros is supposed to be something huge ~ bringing back glory and pride to the country Iraq.

I just don't see that much glory if they are planning on a neutral event.

 

:rodeo: That's why I'm still on this crazy horse.

From what I read Germany did a 10 old for 1 new deal and cash in bank and debt were all treated differently...this came from holocaust survivors who lived through the change from reinmark to Deutschmark...

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6 hours ago, zul said:

When a country redenominate or restructure their currency,

process-wise ~ there's not much diff between lopping and revaluation.
Both will come out with a new set of currencies ~ eventually replacing the old ones.


Both currencies will co exist for a specified period of time....etc etc.

 

The only diff is:

lopping will have two diff exchange rate; one for old and one for new....

While revaluation ~ will have the same exchange rate for both old and new.

So from the news, u can't really tell which way they will be going.


Whatever they are planning to do with their currency, i hope they will factor in on how to make good the financial losses of the inflation and war, suffered by their people. 

(Note: German did that in 1961)

 * Some unfortunate Iraqis actually suffered financial losses when their bank accounts were frozen, and the gov took/used their money to fund the war....
While some others lost their money to inflations (caused by the war).

 
And.........since they are moving towards open economy, i'm sure their monetary policy will not just focus on domestic behaviour (like from 2003 until now), but will be looking outward as well, taking into considerations foreign pressure and how it will affect their country and citizens.

 

Deleting zeros is supposed to be something huge ~ bringing back glory and pride to the country Iraq.

I just don't see that much glory if they are planning on a neutral event.

 

:rodeo: That's why I'm still on this crazy horse.

Same goes to me.. for last 15 years still on that crazy horse.. hahahahahahahahahhaha

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6 hours ago, screwball said:

From what I read Germany did a 10 old for 1 new deal and cash in bank and debt were all treated differently...this came from holocaust survivors who lived through the change from reinmark to Deutschmark...

 

Actually German went thru several 'revaluations', can't remember all but in 1961 and 1969, the intention was to kill the problem of 'imported inflation'.

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Guys and Gals remember it took Germany 15 or 16 years after the end of WW II to RV their currency. So by that example we have 1 or 2 years more to go.  I first bot n 2006. I purposely mispelled bought and and for the grammer police.

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23 hours ago, NEPatriotsFan1 said:

I agree, with what I’ve learned in VIP!" rel="">VIP and OSI I believe that even if the Dinar does not revalue like we all hope, the lessons have been invaluable and has led me to other investments that have already been profitable. Just got to keep your eyes peeled for the opportunity in everything... Thanks for the pick me up this morning Tjokie... cant wait to visit TFYU 🤙

Everyone needs a dose of positivity (did I just create a new word?! :lmao:) once in a while!  Keeping the faith can get very frustrating and even a bit lonely from time to time.  Nearly all of us have been there, done that.  We support each other on this site...even in spite of the occasional Red Ruby, dysfunctional family, ***-for-tat exchanges.  In the end, we all hug and make up because the end is really only just the beginning!  At least for the OSI group! LOL!

 

TFYU is my ultimate dream out of this.  In spite of set backs, delays and what would seem to be the death of it, I still can't let go of it.  I still believe it will live and breathe.  TFYU has become the representation of what most of us here want to accomplish with the blessing we will receive and I believe THAT is what keeps the dream alive!  It represents helping others achieve, not just ourselves.  TFYU has plans to help through the tutoring which happen for economically disadvantaged kids; scholarships for students to be able to finish their basic education and even a few scholarships for University students.  It will provide a way for some medically challenged folks to be able to enjoy the beauty of God's creation they would never otherwise be able to first hand.  These are just a few of the services which will be provided back to the communities where TFYU lives.

 

 Thanks for believing with me my brother!  Thanks to all who support my dream!

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On 8/27/2019 at 1:23 PM, DinarThug said:

Busy With His Wife Back Home And Making Little SandFly’s ! :o

 

Wouldn't that be sandFLEAS then?

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I am all about being positive. It is like I said, "This investment will beat you down". I am pushing 16+ years in it and the better part of my life has pasted me bye. But, I am not going to sit here and whine about it. There are many here that are in far worse shape than I am and I am thankful to be able to get up tomorrow and have one more day to fight.

 

Those who have been on this board remember those that have gone before us, SWFloridaGuy and BondLady to name a few. 

 

Stay positive and Hang Tough. Things have really gotten much better in the investment. Plus, I want to try to meet as many of you as I can. I have made some really good friends here and I have some giving back to do yet. 

 

You stay tough tjokie.  :twothumbs:

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11 minutes ago, ChuckFinley said:

I am all about being positive. It is like I said, "This investment will beat you down". I am pushing 16+ years in it and the better part of my life has pasted me bye. But, I am not going to sit here and whine about it. There are many here that are in far worse shape than I am and I am thankful to be able to get up tomorrow and have one more day to fight.

 

Those who have been on this board remember those that have gone before us, SWFloridaGuy and BondLady to name a few. 

 

Stay positive and Hang Tough. Things have really gotten much better in the investment. Plus, I want to try to meet as many of you as I can. I have made some really good friends here and I have some giving back to do yet. 

 

You stay tough tjokie.  :twothumbs:

SWFloridaGuy and Bondlady were my favorite posters. So knowledgeable. May the Rest In Peace 

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      1 - 24 - 2014
       

      TEMPO.CO, Jakarta - Center for Strategic and International’s economist Haryo Aswicahyono, said currency redenomination should be done after general elections where the public psychological condition is relatively stable to prevent politicalization.
      "The current situation is unstable. If the people are panic because of redenomination, banks may be affected," Haryo said yesterday. According to him, most people have not understood about redenomination and often mistaken it with sanering (slashing of currency's value).
      Bank Indonesia (BI)'s governor Agus Martowardojo previously said redenomination needs economic and political stability. One of the influencing factors of national economy is the fluctuating global and domestic conditions and last year's current account deficit.
      According to BI's deputy of payment system, Ronald Waas, although the economy is unstable, redenomination must be done. The House of Representatives (DPR) has established a special committee and the central bank has informed the public about redenomination.
      The government has planned to implement redenomination policy by removing the last three digits in rupiah. Redenomination bill has been submitted to the DPR and is expected to become law this year.
      Redenomination has been said to need seven years of preparation which includes printing, designing, distribution, socialization and education. "Our country is big. Preparation and committment from all sides are needed," Ronald said.
       
      http://goo.gl/3BVGyA
    • By boomer113189
      1 - 16 - 2014
       
      Bank Indonesia (BI) Governor Agus Martowardojo has said a stable economy is the key to the successful implementation of the redenomination that will replace Rp 1,000 of the old currency with the new Rp 1.

      “We want to make sure that the redenomination will be successful, but one of the keys is that it takes place when the country’s economy is stable and in good condition,” he said in Jakarta on Thursday, as quoted by Antara news agency.

      Agus said that in 2013, domestic economic growth was corrected and the impacts of global fluctuations could still be felt in 2014.

      “The US Federal Reserve’s monetary stimulus has been reduced while domestically, the inflation rate in 2013 has increased, exceeding the targets expected,” said Agus.

      Moreover, he said, Indonesia’s current account was predicted to remain at a deficit of 3.5 percent until the end of 2013 and the weakening of rupiah exchange rate was still a challenge for the country’s economy this year.

      “To ensure the redenomination’s targets can be achieved, it would be better that we don’t push ourselves to implement this in a less than proper situation,” said Agus.

      Similarly, Deputy BI Governor Ronald Waas said one of requirements for the implementation of the redenomination was the stable economy and political situation.

      “The current economic situation is less conducive to implementing the redenomination,” said Ronald, while mentioning the redenomination plan would still continue.

      “The President’s directives must go on. The House of Representatives has established a special committee while public discussions have taken place,” he added.
       
      http://goo.gl/3lrDAE
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