Is it time to delete zeros? Economist commented

[yota691]

Is it time to delete zeros? Economist commented

• Time: 04/28/2022 14:29:00
•  
• Reading: 1,079 times

  

{Economic: Al Furat News} An economist commented on the benefit and harm of deleting zeros from the Iraqi currency.

Nabil Al-Marsoumi told {Euphrates News}: "The process of deleting zeros from the dinar is a technical process that costs the state large sums of money as a result of destroying the current currency and issuing new ones."
He added that "the deletion works to reduce the cost of transactions only and does not affect the economic reality in anything because the purchasing power of the citizen will remain the same by deleting the zeros only, and does not raise the value of the dinar."
Al-Marsoumi stressed that the deletion of zeros "will have a very limited impact on prices."

[southbeach]

I’d say this economist was somehow compensated to purposely deceive investors, people about a currency lop possibility

[rvmydinar]

What the Economist talked was nothing , just talk talk talk and finally gone like a wind. The most important is " noone ( included the economist ) can tell the CBI what to do. Therefore, the CBI will never never listen to economist said. The CBI will make up their own decision about the currency and noone can interfere the CBI.

[yota691]

Prof. Dr Nabil Jaafar Al-Marsoumi

February 26, 20210

http://iraqieconomists.net/en/wp-content/uploads/sites/3/2021/02/Nabil-Marsoumi-image-2.jpg

Full Name of Expert	Prof. Dr Nabil Jaafar Al-Marsoumi
Academic Qualification	PhD in Macroeconomics, Professor
General Competence & Experience	Development Economics
Specific Experience	Carried out large numbers of research projects and field studies on the Iraqi oil sector as well as on investment policy in various sectors and feasibility studies
Years of experiences	30
Current position	Professor for economics at Basra University, Member of IEN Advisory Board and Expert Pool
Regional experiences	MENA region and Iraq
International  and National Organizations worked for	Center for International Private Enterprise (CPIE), RTI, GIZ
Language skills	Arabic
CV (Download PDF)	CV Prof. Dr Nabil Al-Marsoumi-Arabic

[Laid Back]

The economist is describing a LOP or Re-denomination.

 

Is very difficult for me to believe that, Why?

 

- Still the same currency code “IQD”

- No hyperinflation 

- Oil sales… Almost $11 billion dollars for the month of March

- Meeting in Baghdad with the World bank and IMF in the near future 

- More than $70 billion dollars in foreign currency reserves

- Positives talks about HCL 

- The recent World Bank report indicated positive growth in the Iraqi economy,Iraq ranked first in the Arab world with the largest growth in GDP

- The International Monetary Fund expects; Iraq's GDP growth will reach 9.5%

I believe in purchasing power after deleting the 000 zeros 

 

Go Iraq 🇮🇶 

Go new monetary policy 

Go open market economy 

Go stronger dinar 1+

[southbeach]

Exactly but why would he lie like that?

[Fairways&Greens]

8 hours ago, yota691 said:

"The process of deleting zeros from the dinar is a technical process that costs the state large sums of money as a result of destroying the current currency and issuing new ones."

With all the 💲 they are bringing in with the high oil prices, it is not that big a deal. What is a big deal is trying to buy stuff with wheelbarrow loads of cash because your currency is worthless. Come join the 21st century Iraq. Your growth and reserves are strong enough to do so. 

[utah rock]

1 hour ago, southbeach said:

Exactly but why would he lie like that?

[Dinarrock]

If Iraq was going to LOP their currency they would have already done so years ago! There would never have been any talk of deleting the zeros either. Countries that LOP are super high inflation countries with not much to back up their currency, Iraq doesn’t qualify under either of those conditions. The plan the entire time was to add value back to the currency but corruption and greed has stalled their currency reform for years!

[edbeach]

Yes the statements by Dinarrock is correct. The plan the entire time was to add value back to the currency but corruption & greed has stalled their currency reform for years.  I have said this for a long time. Until they form a clean government and stop the corruption we will not see any kind of added value in their dinar. Lets face it this could take a year to several years to happen, These politicians are dug in the corruption deep. Until they get rid of men like Maliki you can forget added value as some call it an RV/RI.  No matter how much they get from the oil sales the corrupt government of men like Maliki with greed will continue to stall this. If Maliki had not stopped Shabibi in 2012 we would not be here now but in some islande enjoying life. So don't count on anything until they stop corruption & form a clean government for the people of Iraq. We have heard several people now trying to tell us the truth not some Guru trying to make points every week of their Bull Shite.  Again this is my humble opinion.

I 

[Longtimelurker]

30 minutes ago, edbeach said:

Yes the statements by Dinarrock is correct. The plan the entire time was to add value back to the currency but corruption & greed has stalled their currency reform for years.  I have said this for a long time. Until they form a clean government and stop the corruption we will not see any kind of added value in their dinar. Lets face it this could take a year to several years to happen, These politicians are dug in the corruption deep. Until they get rid of men like Maliki you can forget added value as some call it an RV/RI.  No matter how much they get from the oil sales the corrupt government of men like Maliki with greed will continue to stall this. If Maliki had not stopped Shabibi in 2012 we would not be here now but in some islande enjoying life. So don't count on anything until they stop corruption & form a clean government for the people of Iraq. We have heard several people now trying to tell us the truth not some Guru trying to make points every week of their Bull Shite.  Again this is my humble opinion.

I 

👍

 

I believe arrests will happen first too

[horsesoldier]

4 hours ago, southbeach said:

Exactly but why would he lie like that?

 

Because it's what they does ...

[screwball]

3 hours ago, Dinarrock said:

If Iraq was going to LOP their currency they would have already done so years ago! There would never have been any talk of deleting the zeros either. Countries that LOP are super high inflation countries with not much to back up their currency, Iraq doesn’t qualify under either of those conditions. The plan the entire time was to add value back to the currency but corruption and greed has stalled their currency reform for years!

100% plan

[screwball]

5 hours ago, Laid Back said:

The economist is describing a LOP or Re-denomination.

 

Is very difficult for me to believe that, Why?

 

- Still the same currency code “IQD”

- No hyperinflation 

 

- Oil sales… Almost $11 billion dollars for the month of March

- Meeting in Baghdad with the World bank and IMF in the near future 

- More than $70 billion dollars in foreign currency reserves

- Positives talks about HCL 

- The recent World Bank report indicated positive growth in the Iraqi economy,Iraq ranked first in the Arab world with the largest growth in GDP

- The International Monetary Fund expects; Iraq's GDP growth will reach 9.5%

I believe in purchasing power after deleting the 000 zeros 

 

Go Iraq 🇮🇶 

Go new monetary policy 

Go open market economy 

Go stronger dinar 1+

boom

[Thief]

Don't put too much attention on what they are saying, always see what they are doing. All those meetings with IMF, WORLD BANK, UST for a LOP? Doesn't add up.