Denying the printing of currency, a financial advisor reassures the public about Iraq’s cash reserves.
Denying the printing of currency, a financial advisor reassures the public about Iraq’s cash reserves.
5-25-2026
The Information Agency / Baghdad…
The financial advisor to the Council of Ministers, Mazhar Muhammad Salih, denied on Monday the circulating reports regarding the Central Bank of Iraq printing local currency outside of regulations, stressing that this process is subject to legal mechanisms and strict financial backing.
Salih told the Information Agency, “The talk circulating among the Iraqi public about the Central Bank printing local currency is completely unfounded,” explaining that “the currency printing process is governed by two legal mechanisms: the first depends on the actual market need, and the second is to address any shortage of cash liquidity.”
He clarified that “these two operations cannot be carried out without full backing in hard foreign currencies and gold,” noting that “the function of the Central Bank’s reserves is to maintain the stability of the exchange rate, and the current reserves are in very good condition and have never been withdrawn.”
In another context, Saleh revealed the fate of the budget, emphasizing that “preparing a budget for the remainder of this year is contingent upon halting the war of aggression against the Islamic Republic of Iran.” He noted that “if the war were to cease immediately, the government would be able to prepare an exceptional or indicative budget for the remaining months.”
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