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Expert: delete the zeros must be accompanied by technical...

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Expert: delete the zeros must be accompanied by technical...

Unread postby Stillw8n » Wed Oct 05, 2011 6:34 pm

Expert: delete the zeros must be accompanied by technical...

Baghdad, Hussein al-Tamimi Tgb
Collect a number of economic experts, the importance of the trend towards reduction of the currency by removing three zeros of them, but they asked not to adopt this step at this time, because the reality of the situation the country's economic walking directions do not agree with it, despite the achievements relative in the investment arena, but it may disrupt the local economy.

Economic expert sword Hilfi said that the process of deletion of zeros includes elements of success in more than one side, but the elements of failure are many, pointing out that the central bank today is required to determine the odds of success and failure in this process, indicating that Once we are able to change the process must begin the Central Bank to determine the rate of the dinar against the dollar, after a reduction of the currency and delete zeros it becomes a dollar dinars? Is that the central bank supports it first.

technical specifications developed and added in an interview (morning) that the process of deletion of zeros must be accompanied by the stability of a security that is supportive of the new currency that will be printed within the technical specifications developed.

Here is a must have the potential of security that can prevent fraud of this process , which imposes on the relevant authorities to study this subject with extreme precision, as we need technical support in the subject of the currency exchange equivalent to a major operation in this size.

processors and pointed to a cluster of large cash in the country identified by the Central Bank, but not the reduction is the solution the last to address the mass and the resulting negative on the economy.

indicating that countries that adopt this approach to not be in front of solutions, other secondary, and that this process should be preceded by a processor number and after the complete phase processors States enter the stage of deletion of zeros, saying we did not enter the stage processors, including the system of electronic payment and clearing system.

and these systems did recently in Iraq, which help to contain inflation, mass cash surplus in the market, and towed to the banks, which in turn drive certificates or cards used by the citizens of shopping anywhere, and it is these systems on withdraw cash from the local markets and the citizen and restored to incubators banking, and do these banks to pump the liquid through a major economic projects, explaining that the application of these systems, we see the results after two or three years, and that this stage must be accompanied by an educational program directed to segments of society shows the importance of banking technology developed in the local economy.

goes Hilfi said, that means the withdrawal of liquidity, which as I mentioned clearing system mail, which succeeded the private banking sector Ptivh threatened failure of the determination of the banking sector the government not to use it and do not know what reason, and this confirms that the challenges are great in front of the application this process.

and warned the expert need to provide supplies necessary for the withdrawal of liquidity in order to achieve the desired success in changing the currency and delete zeros.

impact on investment and continued Hilfi saying: that the country began to receive foreign investments directly benefiting from the security and stability of relative, as well as Machdth region of the events, he led the investment process to go to Iraq, and that changing the process will carry a significant impact in the form of the local economy, which confuses the reality of investment business because he knows the economy in the coming period, and that too much talk in this aspect Born imbalance has directed the investor to Iraq.

He called for the need to review this trend by adopting the process of deleting the zeroes relating to the rights of citizens and the economy in general.

five years and increased Hilfi saying that the reality of the Iraqi economy needs five years to build this step, where the time will be more stable in all fields of production.

But today, it can not be reduced to the process without study of the economic reality and political security.

He said, for example, that one has a (100) million dinars were to adopt a resolution to delete the zeros will have two options either going to turn it into another hard the dollar will be equal to (300.38) one thousand dollars, or will be reduced to the process and becomes the amount (100) thousand dinars, but How much is equal to the dinar against the dollar, and returned to confirm that the operation is correct and successful, but not at this time.

http://www.alsabaah.com/ArticleShow.aspx?ID=14800
~The opinions expressed in the above article do not necessarily reflect the views of the person posting~
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