Is the Ministry of Finance hiding the facts?.. An expert reveals the main reason for the shortage of “cash liquidity”
Economic researcher Haider Al-Sheikh revealed, today, Wednesday (January 1, 2025), the direct reason behind the shortage of cash liquidity at the Central Bank of Iraq.
The sheikh told Baghdad Today, “The Central Bank lacks cash liquidity, due to the citizen’s lack of confidence in the banking system. There is a lack of confidence among citizens in both government and private banks, and this has led to the storage of cash (the Iraqi dinar) in citizens’ homes.”
He explained that “the cash held by citizens exceeds 15 trillion dinars, and the government and the Central Bank must address inflation in economic policies by providing banking facilities to citizens in a real and more serious manner.”
The economic researcher added, “The cash currency circulating between banks and merchants and in the market as well, amounts to nearly 85 trillion dinars.”
On Sunday (December 2024), the Ministry of Finance denied the existence of a shortage of liquidity to finance employees’ salaries for the current month, stressing its commitment to financing salaries .
The ministry stressed in a statement received by “Baghdad Today” that it is “fully committed to the process of financing employees’ salaries, as the Accounting Department has financed the salaries dues of ministries, governorates and non-affiliated entities for the current month of December according to the schedules specified for each of them, and it is continuing its efforts to ensure the continuity of disbursing financial dues without any delay or interruption.”
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