The Central Bank of Iraq, on Sunday, announced two important initiatives, to dismantle part of the problems of the financial government in the shadow of the war on the organization calling for the terrorist.
“The Central Bank of Iraq and all the central banks are the adviser to the Ministry of Finance and the government in the economic policy and since 2003 it has the ability to provide real advice to the government as an independent institution,” said Ihsan al-Yasiri, director general of the central bank’s accounting department. Adding that after the ordeal in 2014 when the organization invaded the Iraqi terrorist and coincided with the decline in oil prices, the bank has developed the ability of the government to collect funds.
“The central bank supported the government through the loans it requested from large banks as the central bank deducted financial instruments through the second market and strengthened the liquidity of the government.”
He added: The bank still has several initiatives, including lending to banks $ 6 trillion dollars to strengthen the liquidity and discount of the bonds of contractors, “pointing out that” the contractors in this financial crisis have become social problems and the Central Bank initiated a solution with the Prime Minister’s Office to issue bonds worth 40 percent of their dues On the State and re-discount these bonds to provide liquidity to them.
The Director General of the Accounting Department said that the Central Bank has great roles in supporting the state, especially in the stages of crises and problems that have gone through. It is also conducting ongoing research and studies in order to draw up a new economic policy for the country to face the stage of the reconstruction and reconstruction of liberated areas.