What is the importance of the Old Testament to Christians?

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The Old Testament is revered by Christians as the true Word of God, with all the books of the Old Testament being divinely inspired and retain a very specific and permanent value. The bear witness to the divine pedagogy of God’s saving love and mercy. More that any thing else, they are written to prepare for the coming of Jesus Christ, and to point to Him, the Saviour of the World.

Ref. CCC 121-123

Taken From The Compendium – Catechism Of The Catholic Church