Shafq News/ The Parliamentary Finance Committee confirmed on Monday that the "white paper" submitted by Prime Minister Mustafa Al-Kadhimi includes the proposal to replace the currency, noting that this proposal requires a lot of funds to implement it.
Iraqi Prime Minister Mustafa al-Kadhimi said in June that the government had prepared a "white paper" for the reforms. According to the document, the proposed implementation period is three years from 2021 to 2023.
"The reform paper to address the financial crisis presented by the House of Representatives includes a review of the exchange rate and the possibility of proceeding with the removal of zeros, while adjusting the mechanism for selling the currency and maintaining the hard currency and the exchange rate of the dollar against the Iraqi dinar," committee rapporteur Ahmed Al-Saffar told The Twilight News.
"The implementation of this proposal requires better economic possibility and conditions than the current situation with liquidity for the application," he said, adding that "currency replacement requires a lot of money to print the currency abroad."
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