🇮🇶📢 IRAQ SENDS A MESSAGE OF CALM: NO DECISION ON THE "DELETE THE ZEROS" PROJECT... FOR NOW
📌 News Summary
The financial advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed that there is NO official decision to remove the three zeros from the Iraqi dinar.
According to Salih, this is a highly technical and delicate process that can only be implemented when the following conditions are met:
✅ Favorable economic conditions.
✅ Financial and monetary stability.
✅ Extensive preparation of Iraq's banking system.
In other words, the Delete the Zeros Project has not been canceled. Instead, it remains on hold until the right economic and banking conditions are in place.
💰 What Is Happening With Iraq's Economy?
Over the past several days, rumors have spread claiming that Iraq was heading toward a serious financial crisis.
However, the Prime Minister's financial advisor offered a very different picture:
🟢 Iraq continues to hold strong foreign currency and gold reserves.
🟢 The government has the full ability to pay salaries, pensions, and social benefits.
🟢 The current challenges relate to temporary cash management—not a financial crisis.
In other words...
👉 A temporary liquidity or cash-management issue is not the same as a country running out of money.
👉 Iraq's leadership is making it clear that the country's financial foundation remains intact.
🔍 My Analysis
This statement appears to have one clear objective:
Restore confidence and calm the public after days of speculation, alarming headlines, and growing concerns that Iraq was facing a major financial collapse.
What stands out is that the government did not reject or cancel the Delete the Zeros Project.
Instead, officials repeated what they have consistently stated over the years:
📌 Monetary reform requires economic, political, and banking stability before it can be successfully implemented.
Until those conditions are fully established, the project will remain on hold.
🤔 So...
Many people are asking:
Who benefited from creating all the recent panic and frenzy?
At this point, there is no evidence identifying a specific group or individual. However, several possibilities are often considered:
📈 Financial speculation.
🏛️ Political pressure from competing factions.
📢 Misinformation or exaggerated interpretations circulating online.
⚠️ Or simply genuine uncertainty surrounding regional events and oil revenues.
What is clear is that today's official message is intended to reassure both the public and the markets:
✔️ Iraq still has strong international reserves.
✔️ The government can continue meeting its financial obligations.
✔️ Officials do not view the current situation as a structural financial crisis.
✔️ And the Delete the Zeros Project remains dependent on achieving the necessary economic and banking conditions—not on political speculation or internet rumors.
🇮🇶 Bottom Line: This announcement should not be interpreted as a setback for Iraq's monetary reform. Rather, it reinforces the government's long-standing position that stability must come first before implementing a major currency reform.
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AL-ZAYDI’S ADVISOR TO RUDAW: THERE IS NO DECISION TO REMOVE ZEROS FROM THE DINAR
The financial advisor to the Iraqi Prime Minister , Mazhar Muhammad Salih , confirmed that there is currently no official decision to remove zeros from the Iraqi currency . He pointed out that Iraq lost 85 % of its oil revenues due to the war (recent Iranian conflict, while its currency and gold reserves remained stable . Speaking to Rudaw Media Network on Thursday ( July 30, 2026) regarding rumors about changing the Iraqi currency and removing zeros , Salih said , ” There is no official decision . This is a delicate technical procedure that requires favorable economic conditions and extensive preparations within the banking system .”
Regarding the dollar, the Prime Minister ‘s financial advisor indicated that Iraq possesses strong reserves , but political events have had their impact, explaining that “the war deprived Iraq of 80% to 85% of its foreign currency revenues .” Muzhir Muhammad Salih reassured employees and salary recipients , saying, ” There is no problem with the availability of cash for salaries. The Central Bank and the government have the full capacity to meet their financial obligations to employees , retirees, and the social safety net . The pressures we sometimes see are only related to cash management; they are temporary and not a financial crisis .” Muzhir Muhammad Salih also indicated that reserves
Currency and gold formed a strong shield to protect the value of the dinar and the stability of the market, despite the decline in Iraqi oil exports to 10% of their previous level due to the Strait of Hormuz crisis .