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Saturday, November 14, 2015

Deleting the Zeros is Essential to Encourage Funds Flow Inside, 14 NOV

Iraqi Dinar 123 News:– A large number of experts and economists said that the project of elimination of three zeros doesn’t have negative economic effects in the value of cash currency but it would be a strategy for rearrangement in the currency. It would provide an ease for the Iraqi financial institutions and banking sector. The Faculty of Economics and Management, at the University of Kufa Dr. Abdul Hussein Jalil Ghalibi said that enforcement can feel for the long-term. It would motivate the capital flow of the investors in the directions of expected low increase in prices. It would be suitable but it depends on the capability of the government in order to execute the project of elimination of three zeros.
He further added that this kind of change in the currency and elimination of three zeros is considered as an adjustment, but it doesn’t mean that it would lift up the value of currency. The elimination of three zeros from Iraqi dinar currency will not boost up or degrade the currency value. It would not reflect any kind of positive or negative impact on the existing economic condition because this change would not increase the production in the domestic gross products. Ghalibi further added that changing the currency by deletion of three zeros would not reflect any kind of impact on productivity because the major and most important factors are technology, resources and financial institutions, and changing in the currency would not reflect any impact on them. This process would not reflect any impact on the monetary policy of the Iraqi Central Bank.

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