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Samson » September 12th, 2022

Central Bank Governor: The value of the dinar is stable, and we are in the process of raising Iraq from the high-risk countries

12th September, 2022

The Governor of the Central Bank, Mustafa Ghaleb Makheef, confirmed, on Monday, that the bank is in the process of raising Iraq from the “high-risk” countries according to the European Union classification, pointing to maintaining the stability of the value of the dinar “significantly.”

In an interview with the Journal of the Center for Banking Studies, he said, “The Central Bank has contributed significantly to maintaining the stability of the value of the dinar, bearing, for this purpose, the costs of imbalance in the cash flow of the general budget.”

He added, “We seek to work on activating indirect monetary policy tools, as well as adopting a policy of quantitative easing through the initiatives of the Central Bank, which amounted to about 18 trillion dinars.”

He went on to say, “We are in the process of removing Iraq from the high-risk countries according to the European Union’s classification.”

He continued, “Work is currently underway with a number of sober international banks to create the necessary ground for banking cooperation with Iraqi banks that have outstanding performance and have a credit rating from accredited rating agencies.”   LINK

Source: Dinar Recaps

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