Economist: Printing new paper currency to address the financial deficit is illegal
Economist: Printing new paper currency to address the financial deficit is illegal
6-15-2026
Al-Maalomah/Anbar…
Economic expert Rashid al-Saadi revealed on Monday that the Central Bank’s printing of new banknotes to address the financial deficit is illegal and requires new legislation.
Al-Saadi told Al-Maalomah News Agency, “The Central Bank cannot print new banknotes to address the country’s financial deficit. Its role, according to current law, is limited to printing replacement currency for torn and worn banknotes, as well as compensating for internal commissions.”
He added, “The Central Bank of Iraq has not resorted to printing new banknotes because this step violates Law No. 56 of 2004.” He explained that “the bank is relying on a global economic plan to boost the country’s economy according to the prevailing perspective, without needing to resort to printing new currency for fear of a financial setback.”
Al-Saadi clarified that “the country’s economy will recover in the coming period and regain its economic standing without the need for external borrowing.”
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