20 Hrs
Source:
الاقتصادية
Central Iraqi Bank Explains Currency Printing
The Iraqi Central Bank has affirmed that printing money is legally forbidden, and that current financial transactions are entirely different from issuing new currency. It clarifies that deducting funds from remittances is a temporary measure to provide liquidity in exchange for government debt instruments. In contrast, printing currency means issuing money without backing, which leads to inflation and a decline in the currency's value—something that is not permitted under Iraqi Central Bank law. Additionally, the bank emphasizes its focus on managing monetary policy to maintain financial stability and reaffirms its commitment to strict controls to prevent financial pressures from turning into permanent monetary expansion.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)