Central Bank Governor Mustafa Ghaleb Makhif confirmed on Monday that the bank is in the process of raising Iraq from "high-risk" countries according to the classification of the European Union, pointing to maintaining the stability of the value of the dinar "significantly."
"The Central Bank has contributed to maintaining the stability of the value of the dinar significantly, bearing in this way the cost of imbalance in the cash flow of the general budget," Makhif said in an interview with the Journal of the Center for Banking Studies.
"We seek to activate indirect monetary policy tools as well as adopt quantitative easing through the Central Bank's initiatives, which amounted to about 18 trillion dinars," he added.
"We are in the process of raising Iraq from high-risk countries according to the EU classification," he said.
"Work is currently underway with a number of sober international banks to create the necessary ground for banking cooperation with Iraqi banks with outstanding performance and with a credit rating from accredited rating agencies," he said.
Added 12/09/2022 - 5:08 PM
UPDATED 2022/09/12 - 7:04 PM