This Announcement of New Denominational Currency was Made in September 2022 - Is it Still a Go?

 

Iraqi News Agency (INA) reported in a news story dated September 27th 2022 that the Central Bank of Iraq (CBI) plans to introduce a new denomination of the Iraqi currency on Tuesday.

During his speech at the Al-Rafidain Forum for Dialogue, Mustafa Ghaleb stated that the CBI is preparing to issue a new denomination of 20 thousand dinars based on a study and comparison with neighboring countries.

Ghaleb explained that the CBI is working on completing the design of the new denomination, which will be announced soon.

Additionally, Ghaleb stressed that the CBI does not intend to change the U.S. dollar exchange rate.

According to Ghaleb, Iraq is still reaping the benefits of the change in exchange rate and needs to address some negative indicators over the next few months.

Despite the challenges Iraq faces, Ghaleb confirmed that the CBI has distinguished relations with the World Bank and the International Monetary Fund (IMF).

It was noted by Ghaleb that the CBI has a five-year plan and strategy, and that several steps have been taken to develop the banking and financial sectors.

IS THIS STILL A GO?