Ministries responsible for creating the confidence of citizens

[blonde_minx]

The new currency threatens the effects of negative and required strict procedures

BAGHDAD - morning

while heading the Iraqi Central Bank to print a new currency after deleting three zeros had announced last year, an expert warned bank of the disastrous effects may result from this process in the event of failure to take tough measures to reduce these effects.

It is useful to note that many countries already in Iraq go through such experience and has taken measures capable of maintaining the real value of cash Btabath ancient and modern, while stability of the edition of modern Turkey, Brazil and many countries of the world have experienced deleting three zeros, but managed to limit effects caused by the experience.

The expert said a bank that changing the currency by removing three zeros will lead to disastrous effects if not taken the monetary authority determined action to reduce them.

The executive director of the Association of Iraqi private banks Aziz Hassoun in an interview for (economic morning) that all the international experiences have passed this phase such as Brazil and Trkiyao other countries have resulted in side effects and affected even the general level of prices towards the boarding and that led to the decline in the purchasing power of the currency.

He stressed the need for the Central Bank of Iraq to take strict measures to strengthen the capacity of the decision to maintain the value of the cash by creating the required balance in value of the exchange between the two currencies.

Goldfinch warned of the instability of the exchange rate to act firmly to maintain the exchange rate equilibrium does not prejudice the value of currency in circulation of two currencies, and monitor the behavior of speculators who are trying to exploit the circumstances, as happened with the beginning of the occupation when you change the currency, where excelled others in the field of forging the new currency and create differences between the categories of cash in the drainage and other tricks and manipulation, stressing that the experience was harsh and effects found so far by the launch of the decision to convert without follow-up time.

On the possibility of the banking sector in creating awareness needed about the value of cash he said that the banking sector on the communication of customers Bakiem their currencies in time of entry into force of the decision.

He said, it is important how to deal ministries and government departments and the private sector to the new situation and carry the responsibility of creating a citizen's confidence in a strong new currency and the new reality, through their actions and dealings with the printed new.

He stressed the need to study the reality of salaries and wages and maintenance of the balance required to not reflected effects on the purchasing power of the citizen in case of a change of currency and without prejudice to acquired rights of staff and workers. He called the central bank to the need to control the exchange rate effective tool in achieving the required balance and maintain the real value of cash new, stressing the need to address the counterfeiting of currency.

He concluded his speech ( economic morning) that the imposition of the Iraqi Central Bank ability to perform not only make decisions and the formation of work teams have the ability to address all possible effects of treatment and their pace consistent and sustained follow-up implementation of the resolution and it may accommodate effects caused by the experience of the new edition after the occupation and raised painful, which is still list so far. The Iraqi Central Bank has approved switching the old currency after deleting three zeros and make them carry printed in three languages ​​for the purpose of submitting them to the concerned authorities for approval and ratification, without specifying a date for circulation.

http://www.alsabaah.com/ArticleShow.aspx?ID=12284

[Spud]

without specifying a date for circulation

That sucks.

[Carrello]

without specifying a date for circulation

That sucks.

But you have to admit, that glass if half full!