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Economist warns against the consequences of printing local currencies and suggests borrowing
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Member of the Iraqi Economic Council, Ghadeer Al-Attar, warned of the danger of the government's support for some of the proposals to print local currencies outside the CBI cover, proposing a solution other than cash printing.
Al-Attar said, in a statement: "The printing of the currency without cover is a catastrophe and there are great areas for corruption, in addition to losing the national currency to its value in exchange for gold."
He pointed out that "the subject is a dangerous adventure and the damage will be reflected in the middle class more than others." Noting that " [You must be registered and logged in to see this link.] is able to cross this crisis, which is temporary, no matter how long it takes."
Al-Attar suggested that «the borrowing money from the reserves of the Central Bank of Iraq be borrowed, provided that the payment be made once the crude oil recovers in the global markets and the Corona virus crisis ends» ..
[You must be registered and logged in to see this link.]
Member of the Iraqi Economic Council, Ghadeer Al-Attar, warned of the danger of the government's support for some of the proposals to print local currencies outside the CBI cover, proposing a solution other than cash printing.
Al-Attar said, in a statement: "The printing of the currency without cover is a catastrophe and there are great areas for corruption, in addition to losing the national currency to its value in exchange for gold."
He pointed out that "the subject is a dangerous adventure and the damage will be reflected in the middle class more than others." Noting that " [You must be registered and logged in to see this link.] is able to cross this crisis, which is temporary, no matter how long it takes."
Al-Attar suggested that «the borrowing money from the reserves of the Central Bank of Iraq be borrowed, provided that the payment be made once the crude oil recovers in the global markets and the Corona virus crisis ends» ..
[You must be registered and logged in to see this link.]
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