{
  "id": 1623659,
  "title": "Iraq considers deleting zeros from dinar as officials revive currency overhaul",
  "url": "https://urgent.news/2026/08/18/iraq-considers-deleting-zeros-from-dinar-as-officials-revive-currency-1623659",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T03:29:42.000Z",
  "source": {
    "name": "The National UAE",
    "slug": "the-national-uae",
    "url": "https://www.thenationalnews.com/business/economy/2026/08/18/iraq-considers-deleting-zeros-from-dinar-as-officials-revive-currency-overhaul/"
  },
  "original_language": "en",
  "account": "Iraq is contemplating a plan to eliminate two zeros from the dinar as it faces a worsening budget crisis. The idea has resurfaced as the Central Bank of Iraq debates the proposal, though it has not yet progressed to a formal legal stage. The current discussions are serious, given the country's financial constraints exacerbated by the closure of the Strait of Hormuz, disrupting Iraq's primary oil export route. With global oil prices fluctuating and exports down, government revenues have significantly declined, impacting public spending.\n\nThe primary objective of this currency overhaul is to restore the dinar's real value by addressing the issue of vast amounts of cash being hoarded outside the banking system. This could potentially simplify transactions and strengthen the currency's value. However, the process could be costly and may only yield results if underlying problems like corruption and weak financial institutions are tackled. If implemented, Iraq would join a group of countries, including Turkey, Brazil, and Zimbabwe, that have undergone similar currency redenominations.",
  "summary": "Iraq is again considering a longstanding and controversial plan to delete two zeros from the dinar as the country struggles with a deepening budget squeeze. Member of the Parliamentary finance committee Ahmed Rasheed said on Monday that the project is now being debated in the Central Bank of Iraq, although it has not yet reached parliament. \"These are just discussions so far. They have not risen…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The National Business",
        "title": "Iraq considers deleting zeros from dinar as officials revive currency overhaul",
        "url": "https://urgent.news/2026/08/18/iraq-considers-deleting-zeros-from-dinar-as-officials-revive-currency",
        "published": "2026-08-18T03:29:42.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}