Al-Sabah Newspaper makes an interview with the dean of Business Economics College ,Prof.Dr.Naghem Hussein Nammah about dealing with the Chinese yuan as one of the polices to decrease the dependence on the dollar and resolving the crisis.
She explains that the dependence of the Iraqi Central Bank on the Chinese yuan in the trade transactions between Iraq and China is regarded as the best step in the financial field and this increases economics in the international area ; other states which has a trade and financial transactions with China can pay Chinese yuan .Besides, the Central Banks of States have got the yuan as a part of foreign exchange reserves.
The Dean of Business Economics College expresses that according to modern statistics, the Chinese Yuan has got the fourth stage in the international level of the foreign exchange reserves after the dollar ,
Euros , Japanese yen and it achieves 28% of total foreign exchange reserves of the Central Banks of different states.
Translated by
Prof.Aula Abdul Ghaffour Muhammad Salah