Zeros “Cannot be Removed from Iraqi Currency During 2013”

By John Lee.

Iraq’s deputy Minister of Finance has said the three zeros cannot be removed from Iraqi dinars during 2013 because no preparations have been made.

According to the report from AKnews, the Iraqi Central Bank and people have been saying for four years that the zeros in the Iraqi currency will be erased and the money will be changed. But the money cannot be changed because prior work for the process has not been executed.

The Minister of State reportedly said:

Reducing the zeros is the Central Bank’s authority. As the Finance Ministry we are against the change and removal of the zeros, but the bank insists on removing the zeros.

“We cannot change the Iraqi money in 2013 because the Iraqi budget was estimated with current money.

“If the Central Bank has any intention to change the money then it must do the process soon before calculating 2014’s budget.

(Source: AKnews)

7 Responses to Zeros “Cannot be Removed from Iraqi Currency During 2013”

  1. Stew September 6, 2012 at 1:13 am #

    I think it would be helpful to have a spreadsheet with for and against.
    The CBI is for it happening in 2013.
    The Deputy Minister of Finance is dowm for a no.
    I’ve read conflicting reports about Parliment. Some say the majority supports, some say the majority is against.
    The CBI continues to state they can do it if they want without the others approval. Who knows?
    The reason given against it in this article don’t seem to make sense. If the 2013 Budget is 100 Trillion dinar, it gets revised to 100 Billion dinar. Every line item of the budget simply gets 3 zeros removed. Simple as that, problem solved. How freaking difficult is that?

  2. Jack Mahr September 7, 2012 at 5:50 am #

    If the CBI simply changed the value of the current dinar to 1 cent US or ten cents US then it would not have to remove the zeroes immediately but could increase the vslue of the currency in line with the country’s resources.

  3. Azhar September 7, 2012 at 12:59 pm #

    If CBI increased the value of running dinar from five to twenty cents, there will be no need to replace currency, Iraq has solid reason to do so being a oil rich country, its sources should be share to iraqi peoples so that their economic status could be uplift like peoples of Kwait.

  4. 2collectg September 7, 2012 at 2:27 pm #

    i think alot of this is SMOKE AND MIRROWS! iraq knows how MUCH and when they`re going to do this we`re the ones speculating! we know they have more then enough money to revalue reinstate or redinominate their currency! with ALL THE HEAVY HITTERS watching this currency i`m in this for the long run!! then to hear that the DMCC is waiting for iraq to get this currency going internationally then i`m all in!

  5. omar September 7, 2012 at 4:23 pm #

    2collectg you are in for eternity. Good luck.

  6. adrian September 8, 2012 at 5:13 pm #

    in 2013, 2014, 2015 whatever the need to change and that was established from the moment that the coalition won NID, for obvious reasons when they invaded Iraq under Saddam’s regime. Worst of all is that the more time passes, more time for sellers to continue cheating with the story of the r / v.

  7. lz September 20, 2012 at 2:39 pm #

    Keep the scam going.
    If all the suckers keep buying dinar, why Lop? Its free money for the CBI, their worthless paper….Brilliant Scam!