The team of experts of the International Monetary Fund mission praised the measures taken by the Central Bank of Iraq during this year in achieving the objectives of monetary policy, welcoming the progress made in strengthening the framework of local liquidity management. This came in a statement issued by the mission at the end of its visit related to Iraq, which took place in the Jordanian capital Amman for the period 12-17 December 2023, stressing that the policies of the Central Bank of Iraq were able to control inflation rates, which fell from the peak of 7% at the beginning of this year to reach 4% by the end of the year, with the expectation of its stability in the coming months, due to the tightening of monetary policy and raising the exchange rate of the Iraqi dinar against the dollar.And the return of foreign trade financing to normal. The Central Bank of Iraq explains that the monetary policy tools adopted this year, especially the increase in the policy price from (4%) to (7.5%) and the mandatory reserve ratio from (15%) to (18%) contributed significantly to better management of local liquidity, which the attention of the International Monetary Fund mission for its importance under the current economic conditions. This bank seeks to develop the interbank trading market in order to enhance the transmission of the impact of monetary policy. The ongoing banking reforms and the development of the electronic payment system in coordination with the Iraqi government are prerequisites for providing support to revitalizing the private sector and promoting sustainable economic development. The mission also praised the role of the Central Bank of Iraq for its continued provision of appropriate tools for financing foreign trade, and improving the environment of compliance with the requirements of combating money laundering and terrorist financing, which will contribute to achieving monetary policy objectives and greater financial and monetary stability in the country. Central Bank of Iraq The media office December 20, 2023 ——————————————————————— The central bank looks to have satisfied the IMF with all the changes and upgrades that have been completed to meet the stringent International requirements and standards. They come out on 12/20/2023. Is this the Ok :ok_hand:for to start spending the 2923 budget? Is this a key specified time frame that has been met that Al-Alaq, Al-Sudani and Taif Sami have apparently adhered too, I suspect so. The private sector is ready to explode and the Central Bank fits the bill to get it done! Imo ~MM
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