Sunday 10 May 2015
Print large cash project categories not related to monetary policy but the payments system management
Said Advisor to the Prime Minister of Iraq for Economic Affairs, the appearance of Mohammed Saleh in a statement to «life», that the draft Print Central Bank of Iraq large cash categories, an important step on the road to monetary reform, which supports the country's economy, pointing to a market need for large denominations, and that handle very large monetary blocs in Iraq, especially that cash payments outweigh the instruments to deal cards and electronic payments.
He pointed out that printed large cash categories not related to monetary policy but the payments system project management, pointing out that this plan will be condensed amounts of money, especially large groups that make up 90 percent of the money supply in circulation.
He explained that the launch of these large groups is to put the same amount of monthly money supply in the market but different categories, and not increase the original amount. He ruled out the potential for inflation by the implementation of the project, pointing out that the central does not lend the government and said, in the event of lending to the government and the issuance of large cash categories can get inflation in prices, The country suffered a contraction in liquidity both in dinars or in dollars with Abalg monetary bloc in Iraq size less than 40 trillion dinars (about US $ 31 billion).
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