🇮🇶🏦 CBI CONTACT: URGENT ACTION ON IRAQ’S CURRENCY REFORM
According to the CBI contact, these are the key points:
🔴 1. Currency Shortage
The shortage of 250, 500 and 1,000 IQD notes, along with large amounts of cash held outside banks, is considered “critical” and “urgent.”
💰 2. Hoarded Cash
The contact said significant amounts of these notes remain outside the banking system, creating liquidity problems.
🏦 3. The Real Problem
According to her, the challenge is not simply getting money into the banks, but keeping it inside the banking system.
🔄 4. Plan to Remove the Zeros
The CBI is reportedly considering a process to remove the zeros, establish a deadline for exchanging old notes, and then introduce new lower denominations and coins.
📜 5. Draft Legislation
The contact confirmed she attended a meeting with government officials, financial advisers and CBI representatives to review legislation related to removing the zeros.
🏛️ 6. Parliament
According to her information, the legislation was prepared and forwarded to Parliament for the next stage.
⚖️ 7. Can the CBI Reject It?
Yes. The contact explained that the CBI retains authority over currency issuance and could reject the process, but she believes this is unlikely at this stage because of prior discussions with the government.
💵 8. What Comes Next?
The CBI would ultimately need to determine when and how the currency exchange would take place, along with measures to protect monetary stability.
⚠️ IMPORTANT: These statements come from an alleged CBI contact cited by MNT Goat and do not constitute official confirmation from the Central Bank of Iraq of an upcoming revaluation or implementation date.
🇮🇶💱 The focus now is on Parliament—and ultimately, an official announcement from the CBI.
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