Iraq opens the file on public funds: striking at removing zeros
Iraq is reopening the file on public money—and some of the proposals My FX Buddies could have major implications for the country's financial and monetary system.New proposals being discussed include tighter controls on government privileges, double salaries, financial disclosures, illicit enrichment, money laundering, recovery of smuggled funds, and bringing money circulating outside the formal banking system into the official economy.But one proposal is likely to grab the most attention:Removing zeros from the Iraqi dinar.The idea of removing three zeros from the currency has been discussed…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.