Iraq Finance Committee: Announces the end of the first phase of the project to delete the zeros from the currency

[bostonangler]

Iraq Finance Committee: Announces the end of the first phase of the project to delete the zeros from the currency

Posted: January 7, 2012 in Iraqi Dinar/Politics

Tags: Baghdad, Central bank, Council of Representatives of Iraq, Currency, Iraq, iraqi, United States Senate Committee on Finance, World Bank

Saturday, 07 December / 2 January 2012 12:11

{Baghdad} Euphrates News announced the Finance Committee in the Iraqi Council of Representatives on Saturday for the end of the first phase of the project to delete the zeros of the Iraqi currency, which included the purchase of equipment for the implementation of the project.

Iraq is working on a project to delete the zeros from the currency to facilitate financial transactions in the country with the country’s openness to international markets and try to attract capital and investors to contribute to government efforts to rebuild the crumbling infrastructure as a result of decades of war and siege.

A member of the Committee Haitham Jubouri, told {Euphrates News} that “the proposed deletion of zeros from the currency of the Iraqi Atksm into three phases, the first included the identification and purchase of equipment and the necessary equipment and completed the start of this year, and it is hoped that the project is completed within the next year to present the new currency in the market and is then gradually withdraw the old. “

The CBI had announced earlier that the new Iraqi currency will increase by three zeros, indicating that he had conducted an extensive study concluded that the lifting of the zeroes will strengthen the value of the Iraqi currency.

He Jubouri that “the project will cost U.S. $ 150 million, and this little amount will be offset by the profits derived by the World Bank and the State Treasury of traders who Sistgnon the U.S. dollar, which they preferred for their small size and high value, and Istbdoulh currency of the new Iraqi.”

http://bit.ly/xPslft

Edited January 7, 2012 by bostonangler

[LA2009]

My link

http://www.alforatnews.com/index.php?option=com_content&view=article&id=3960:2012-01-07-08-57-41&catid=37:2011-04-08-17-25-57&Itemid=57

Views : 119

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Parliamentary Finance announces the end of the first phase of the project to delete the zeros from the currency

Saturday, 07 December / 2 January 2012 12:11

{Baghdad} Euphrates News announced the Finance Committee in the Iraqi Council of Representatives on Saturday for the end of the first phase of the project to delete the zeros of the Iraqi currency,

which included the purchase of equipment for the implementation of the project.

Iraq is working on a project to delete the zeros from the currency to facilitate financial transactions in the country with the country's openness to international markets and try to attract

capital and investors to contribute to government efforts to rebuild the crumbling infrastructure as a result of decades of war and siege.

A member of the Committee Haitham Jubouri, told {Euphrates News} that "the proposed deletion of zeros from the currency of the Iraqi Atksm into three phases, the first included

the identification and purchase of equipment and the necessary equipment and completed the start of this year, and it is hoped that the project is completed within the next year to

present the new currency in the market and is then gradually withdraw the old. "

The CBI had announced earlier that the new Iraqi currency will increase by three zeros, indicating that he had conducted an extensive study concluded that the lifting of the zeroes

will strengthen the value of the Iraqi currency.

He Jubouri that "the project will cost U.S. $ 150 million, and this little amount will be offset by the profits derived by the World Bank and the State Treasury of traders who Sistgnon the

U.S. dollar, which they preferred for their small size and high value, and Istbdoulh currency of the new Iraqi." Finished

[Elixirbaby]

Hope that means they have recieved and installed the De La Rue machines.

Go R

[LA2009]

sorry just saw it posted:-)

the date has december due to the time .....

it is dated 01/07/12

remove this mods.....

all the best

LA

[Crow]

Wow a zero article.. It's been awhile!!

[yota691]

sorry just saw it posted:-)

the date has december due to the time .....

it is dated 01/07/12

remove this mods.....

all the best

LA

Don't remove it a Great article nice find

[bostonangler]

This story seems to explain the process and where we are..... I like this story.

B/A

[Stryker365]

Quote; for the end of the first phase of the project to delete the zeros of the Iraqi currency, which included the purchase of equipment for the implementation of the project.

Quote two; Jubouri, told {Euphrates News} that “the proposed deletion of zeros from the currency of the Iraqi Atksm into three phases, the first included the identification and purchase of equipment and the necessary equipment and completed the start of this year

Read more:

This tells me that what ever machines that the CBI bought for $15 million plus USD are installed, in place and are ready to start working, IMHO...

Link;

http://www.cbi.iq/documents/Universal-1.en.pdf

Quote three; and it is hoped that the project is completed within the next year to present the new currency in the market and is then gradually withdraw the old. “

I like this, they are ready to go and it will be completed with in the year, IMO

OK the last and most important one; The CBI had announced earlier that the new Iraqi currency will increase by three zeros, indicating that he had conducted an extensive study concluded that the lifting of the zeroes will strengthen the value of the Iraqi currency.

Lets get r done.......

Edited January 7, 2012 by Stryker365

[Carrello]

Is this sentence saying they are introducing the lower denominations?

"...and it is hoped that the project is completed within the next year to

present the new currency in the market and is then gradually withdraw the old. "

[lotsofdinar]

Yeah. It looks like that over this year, we'll finally have an answer to what "lifting three zeros" actually means in the real world. Good or bad for us, at least we'll know what they've been talking about.

Edited January 7, 2012 by lotsofdinar

[simon8957]

Great article.....One would think that if they have purchased equipment that they wouldn't want it sitting there to long on being used.

[Stryker365]

Is this sentence saying they are introducing the lower denominations?

"...and it is hoped that the project is completed within the next year to

present the new currency in the market and is then gradually withdraw the old. "

Carrello, it tells me anyway that they are ready to start......

[Ms. BJ]

Is this sentence saying they are introducing the lower denominations?

"...and it is hoped that the project is completed within the next year to

present the new currency in the market and is then gradually withdraw the old. "

With the way these people talk, its hard to know exactly what they are saying.

[lotsofdinar]

It does make it clear that whatever they are doing is not going to happen in the next week. Hope the "Gurus" read this.

Edited January 7, 2012 by lotsofdinar

[Alex38]

I hope there's not 234 phases :/

[Stryker365]

It does make it clear that whatever they are doing is not going to happen in the next week. Hope the "Gurus" read this.

Not a guru but could you point out where it says it will not take place in the next week...I must have missed it.

Day 5 of not smoking, just a warning....

Edited January 7, 2012 by Stryker365

[lotsofdinar]

"it is hoped that the project is completed within the next year to

present the new currency in the market and is then gradually withdraw the old."

The article is describing a process, not an overnight action.

[gregp]

Iraq is working on a project to delete the zeros from the currency to facilitate financial transactions in the country with the country's openness to international markets and try to attract

capital and investors to contribute to government efforts to rebuild the crumbling infrastructure as a result of decades of war and siege.

IMHO I feel this article tells me they are going to RV soon. They now have financial connection with the world. I feel they have been delaying the revaluation process, as foreign contractors connected them with the rest of the world.

[Stryker365]

"it is hoped that the project is completed within the next year to

present the new currency in the market and is then gradually withdraw the old."

The article is describing a process, not an overnight action.

Your giving your opinion, it does not say when it will start, thats my point......when giving an opinion its nice to state that its your opinion but you stated it like its fact that all I'm saying.

[Abarvets]

Bondlady's chat was just posted and she discusses this article. We are pretty much on the same page...............

[Stryker365]

Bondlady's chat was just posted and she discusses this article. We are pretty much on the same page...............

Thanks I'll take a look...

[lotsofdinar]

It's all opinion, Stryker. Of course it's my opinion. Guess I should add JMHO to every post.

[Stryker365]

It's all opinion, Stryker. Of course it's my opinion. Guess I should add JMHO to every post.

That would make you look better your right but do what you want. Your no better than a guru by making statements vis opinions, just trying to help you, thats all.

[JWJW11]

"it is hoped that the project is completed within the next year to

present the new currency in the market and is then gradually withdraw the old."

The article is describing a process, not an overnight action.

Lol.....you do understand that the entire project will be completed within the year.......the RV will be an overnite action.....at which point they will remove the remaining large denoms..........then they will release the lower denim's.

Your right they need a year to make it all happen......as the whole process will be not be overnite.

It pretty clear at this point that we are already a year into the 2 year processes they've been describing.........first was the auctions and pulling in trillions of dinar and purchasing and set up the de larue machines......and NOW the moment we've all been waiting for......AN RV BABY!!!

[Stryker365]

Lol.....you do understand that the entire project will be completed within the year.......the RV will be an overnite action.....at which point they will remove the remaining large denoms..........then they will release the lower denim's.

Your right they need a year to make it all happen......as the whole process will be not be overnite.

It pretty clear at this point that we are already a year into the 2 year processes they've been describing.........first was the auctions and pulling in trillions of dinar and purchasing and set up the de larue machines......and NOW the moment we've all been waiting for......AN RV BABY!!!

I love it when JWJW talks like this.......

I got to get a smoke.........just kidding..