Iraqi Finance denies raise zeros from the national currency

Iraqi Finance denies raise zeros from the national currency
24/08/2010



. Arbil, 24 August (Akaniwz) - denied the Undersecretary of the Ministry of Finance and Economy of Iraq on Tuesday, delete the zeros of the Iraqi currency because it would increase the cases of financial corruption, will not address the problem of inflation in the country.

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". Said Fadel Prophet told Kurdistan News (Akaniwz) announced today that "three years ago, the determination of the Central Bank of Iraq to the deletion of zeros from the Iraqi currency, we pointed out at the time not to reap the benefit of the process, has been repeated talk about the subject during the past year, we renewed our disagreement it has renewed talk about it again, but the Ministry of Finance and Economy of Iraq will not delete the zeroes from the currency. "

". He said the Prophet that "the process of removing zeroes from the currency bearing height, inter alia, an increase in expenses that allow cases of financial corruption, and the second it does not address the problem of inflation, although inflation dropped in Iraq in recent times, as well as the big problem is that raised by the citizens until the get used to dealing with the new currency. "

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". He said: "we are sure that the process of deleting the zeroes damaging citizens, because of their impact in reducing salaries, given that the Iraqi market lacks the culture of dealing with such situations rationally, and will not be lowering the prices of goods, and all the reasons mentioned above I note that the process is complex and will not serve the Iraqi citizen or solve the economic crisis, inflation in the country. "
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