Iraqi Dianr News: Interview with CBI’s Shabibi; Dropping zeros; Iraq’s reserves $60 billion (part 1 of the interview)
The deletion of the zeros from the currency to make it look better has always been quite a task and a difficult decision to make for the authorities. Recently a few days ago the Iraqi Central Bank Governor Dr Sinan Shabibi, in a dialogue with the news paper magazine said that he feels restructuring of the national currency is of importance. He said that deletion Buy Dinar of zeros from the Iraqi dinar, a very crucial step in making it better. The reason is that the currency zeros relate to the direct purchasing power and inflation. The Central bank is responsible for the monetary policy, it is also responsible of the exchange rates of the Iraqi Dinar with other currencies, and foreign reserves management. Well, here are a few details of the interview: A question was asked about his comments about the Iraqi Central Bank monetary policy adopted to refer to the government for approval and approval which raised concerns for the sectors and the banking too. The government is interfering in the affairs of the bank, What is your comment on this? Answer:
He began with a fair sentence telling that the monetary policy linked to the central bank. The central bank is independent. He also said that this independence and not answering to the government makes it fairly a good idea too, he said, it grants the Iraqi Central a great opportunity for the adoption of policies that deal with inflation.
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