The central monetary and economic policies have strengthened the government's economic resilience i

by **Rocky** Wed 18 Sep 2019, 11:32 am

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The central monetary and economic policies have strengthened the government's economic resilience i

by Rocky Wed 18 Sep 2019, 11:32 am

The central monetary and economic policies have strengthened the government's economic resilience in the face of the toughest conditions

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Samir al-Nasiri

Iraq's foreign currency reserves reached $ 87 billion after the government's $ 13 billion reserve was added to the Central Bank's reserves, a positive indication of Iraq's economic resilience in the face of economic crises in the most difficult circumstances.

From this, we note that what has been achieved comes mainly to the exceptional efforts made by the Central Bank during the years of economic and financial crisis in supporting the national economy and securing the limits of 16 billion dollars to the state treasury to overcome the difficult conditions suffered by our country. When the Ministry of Finance takes advantage of the rise in oil prices and repay the $ 16 billion dues of the Central Bank owed by the government and thus the total reserves of the Central Bank and government reserves will be around $ 100 billion, especially if we expect to continue Oil to rise.

The follower and competent is well aware that access to this rate of foreign cash reserves is the Central Bank to follow safe investment policies, which strengthened the credit standing internationally and restore confidence in the Iraqi economy and international banking relations.

Underscoring the safety and success of the Bank 's strategy for the years ( [url=tel:%D9%A2%D9%A0%D9%A1%D9%A6%E2%80%90%D9%A2%D9%A0%D9%A2%D9%A0]2016-2020[/url] ) achieved .ho achievements in financing activity and activate the initiative to finance small and medium enterprises and raise the ceiling on loans to one billion dinars for each project within the objectives of the initiator e in the revitalization of the economic cycle and support the implementation of the objectives of the government curriculum in the fourth axis (Strengthening the economy) by achieving the objective of development banks as a goal of development.

Therefore, the Bank is currently working on initiating the syndicated Islamic finance for public and private banks. In addition, the implementation of community initiatives from the Tamkeen Fund will enable the effective national experience in integrating the banking sector with society and achieving the objective of social and economic banks.

The clear evidence, which can never be covered, is the continuation and stability of the exchange rate over two years and maintaining the inflation rate of less than 2%. It now facilitates the strengthening of the economy and banks for development.

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