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Wednesday, April 17, 2013

Secretary Hadi says discussing the timing of dropping zeros is premature, but says committee has discussed the project; Project needs concerted effort and cooperation from entire GOI, 17 APRIL


Secretary Hadi says discussing the timing of dropping zeros is premature, but says committee has discussed the project; Project needs concerted effort and cooperation from entire GOI

APRIL 16, 2013
Parliament for financial (time): draft structure of the currency is premature
The parliamentary Finance Committee confirmed not to discuss the draft restructuring of the currency and reduce the incidence of fraud in house sessions usually topic is premature.
The Committee said the Attorney Secretary Hadi (time) on (the draft restructuring of the currency issue is premature and has not been discussed in the meetings of the Council but there is a process or project to delete the zeros and it is discussed during the Committee meeting, the Governor of the Central Bank to limit discussion of the sales dollar at auction).
Its member of Parliament is considered a smart Attorney Najeeb, the restructuring of the Iraqi currency and removing three zeros became necessary as the project is economically viable and positive effects. Najib said in a statementtoday that (draft restructuring currency despite the challenges and difficulties facing economic, security and political feasibility but is great for the country, noting (project Pat necessities which must be implemented on the ground in the current term).
She said (in need of concerted efforts and cooperation of all governmental institutions of the Central Bank, the Executive and Parliament to enact some laws, including the law guaranteed the indebtedness to the creditor the right amount to condemnation after deleting zeroes).
She noted that (former Central Bank led by Sinan Shabibi and appearance of Mohamed Saleh brought this project to the ends of the crucial and negotiated with solid global companies have a strong reputation in the world in terms of accuracy, reduce fraud and counterfeiting).
She said (the great harmony between the Executive and legislative institutions of State will increase the success of practical procedures especially that will remove the zeros will take more than two years).
The parliamentary Finance Committee, asserted that the Central Bank according to official correspondence begins this year with three zeros from the delete actions in the local currency, saying it will lead to the development of international economic and monetary transactions.
The Economic Committee member criticized Deputy Qusay Juma Abadi, the State’s five-year plan, scheduled to expire in early 2014 as ô ink on paper Al-Abbadi said in a statement that the State’s five-year plan to support the investment process and reduce dependence on oil imports and diversify budget resources did not show clearly one so far, noting the adoption of the Iraq ô oil sector and no diversity in the resources of the State budget and the five-year plan was a dead letter without Any visible results on the country’s economy, calling for the formation of an Economic Council to research and study of the five-year plan for the years to come.
He must be a real five-year plan and develop strategic policy for the country under the supervision of economists and experts in the systematic programmes precisely to enable agricultural and industrial economic sectors and provide jobs for the workforce and increase budget resources.

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