Senior Economist: Change the currency will not change the value of purchasing

Senior Economist: Change the currency will not change the value of purchasing

Said an economic expert Sumaisem peace that the deletion of zeros from the currency would not raise the value of purchasing power, and called for the re-formulation of the monetary system in the country.

She explained that Sumaisem efforts to raise the zeros and change the current currency may contribute to the creation of a state of monetary illusion, but it will not change the fact the purchasing power of the currency.

Sumaisem and warned of the dangers of foreign currency leakage to the outside after the adoption of freedom of political exchange, noting that the central bank auction of U.S. dollars contributed significantly to the exit of large amounts of foreign currency from the country.

She commended the Sumaisem policies the central bank in maintaining the cover foreign exchange and gold of the Iraqi currency.

It should be noted that the central bank intends to propose lifting the zeros from the Iraqi currency once the new government, amid reports that talk about the possibility to include the new currency of the Kurdish language.

http://www.iraqdirectory.com/DisplayNews.aspx?id=14122