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Deleting zeros and printing a new currency will raise inflation
7 hours ago 185 one minute
Special|..
Economic expert Ahmed Saddam warned today, Thursday, against printing a new currency, pointing out that
this will lead to an increase in the level of inflation.
Saddam said in an interview with Al-Jarida , that
“printing a new currency with no expansion of non-oil commodity production, i.e. the absence of real growth in non-oil domestic product, will lead to raising the level of inflation,
meaning the depreciation of the currency against the dollar and the instability of prices, and
therefore no This can be considered a solution that alleviates the monetary crisis in Iraq. He explained,
"Resorting to deleting zeros,
this option cannot work unless there is
these conditions are not available in Iraq at present, meaning that
deleting zeros under the current circumstances may be feasible only from a computational point of view." If
there will be ease in transactions in large numbers, no more, and
this procedure is not feasible if we take into account the costs that the central bank will bear to print a new currency.
https://jaredaiq.net/News/4984
7 hours ago 185 one minute
Special|..
Economic expert Ahmed Saddam warned today, Thursday, against printing a new currency, pointing out that
this will lead to an increase in the level of inflation.
Saddam said in an interview with Al-Jarida , that
“printing a new currency with no expansion of non-oil commodity production, i.e. the absence of real growth in non-oil domestic product, will lead to raising the level of inflation,
meaning the depreciation of the currency against the dollar and the instability of prices, and
therefore no This can be considered a solution that alleviates the monetary crisis in Iraq. He explained,
"Resorting to deleting zeros,
this option cannot work unless there is
- stability in the dollar exchange rate,
economic diversification and
political stability, and
these conditions are not available in Iraq at present, meaning that
deleting zeros under the current circumstances may be feasible only from a computational point of view." If
there will be ease in transactions in large numbers, no more, and
this procedure is not feasible if we take into account the costs that the central bank will bear to print a new currency.
https://jaredaiq.net/News/4984
