An economist warns of the danger of printing local currencies “without cover”

An economist warns of the danger of printing local currencies “without cover”

Wednesday 22 April 2020 | 10:59 am

An economist warns of the danger of printing local currencies without coverBaghdad / … a 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 cover of the Iraqi Central Bank, while presenting a proposal to get out of the current economic crisis.

Al-Attar said in a statement received by “Eye of Iraq News”, “The printing of the currency without the cover of a catastrophe and there are large areas of corruption in addition to the loss of the national currency for its value in exchange for gold.”

Al-Attar pointed out that “the issue is a dangerous adventure and the damage will be reflected in the middle class more than others,” noting that “Iraq is able to cross this crisis and it 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 as soon as the crude oil recovers in the global markets and the end of the Corona virus crisis.” Finished 2

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