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[size=36]Central Bank: Iraq is on the cusp of a new development era that will include several sectors[/size]
Economie| 12:20 - 03/01/2023
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Baghdad - Mawazine News
The Central Bank of Iraq confirmed, on Tuesday, its launch of several development initiatives that supported the state at the time of the financial crisis, and helped support residential, industrial and real estate projects and the reconstruction and rehabilitation of hospitals and schools, while indicating that Iraq is on the threshold of a developmental era that will include several sectors.
"After 2014, the functions of the central bank were transformed into developmental roles due to the complex problems the country went through, including the emergence of the terrorist gangs of ISIS and the devastation they caused," said Central Bank advisor Ihsan Shamran al-Yasiri, in a statement to the official news agency.
He added, "Financial problems also occurred due to the drop in oil prices in 2014, and the bank entrusted the state's public finances to pay salaries using monetary policy tools, and lending to the government through the secondary market by discounting bonds it bought from banks."
He pointed out that "the Central Bank also launched a development initiative in 2015, and its total funds so far amounted to 18 trillion dinars to support the banks of the agricultural, industrial and real estate sectors and the housing fund."
And he continued, "The bank also launched an initiative (Tamkeen) with the funds of banks and non-bank financial institutions, which enabled the state to rebuild Al-Mutanabbi Street, and rehabilitate orphanages, the elderly, hospitals and schools that were damaged by terrorism, and these are recorded as achievements of the monetary institution, and now we are on the cusp of a new development era that will include several sectors. Ended 29/N33
The Central Bank of Iraq confirmed, on Tuesday, its launch of several development initiatives that supported the state at the time of the financial crisis, and helped support residential, industrial and real estate projects and the reconstruction and rehabilitation of hospitals and schools, while indicating that Iraq is on the threshold of a developmental era that will include several sectors.
"After 2014, the functions of the central bank were transformed into developmental roles due to the complex problems the country went through, including the emergence of the terrorist gangs of ISIS and the devastation they caused," said Central Bank advisor Ihsan Shamran al-Yasiri, in a statement to the official news agency.
He added, "Financial problems also occurred due to the drop in oil prices in 2014, and the bank entrusted the state's public finances to pay salaries using monetary policy tools, and lending to the government through the secondary market by discounting bonds it bought from banks."
He pointed out that "the Central Bank also launched a development initiative in 2015, and its total funds so far amounted to 18 trillion dinars to support the banks of the agricultural, industrial and real estate sectors and the housing fund."
And he continued, "The bank also launched an initiative (Tamkeen) with the funds of banks and non-bank financial institutions, which enabled the state to rebuild Al-Mutanabbi Street, and rehabilitate orphanages, the elderly, hospitals and schools that were damaged by terrorism, and these are recorded as achievements of the monetary institution, and now we are on the cusp of a new development era that will include several sectors. Ended 29/N33
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