The Central Bank of Iraq the first economic institution in Iraq for 2018
* Samir Nusairi
Although I respect the other opinion issued by politicians or specialists in the economy and money, some of them live with us the concerns and challenges experienced by Iraq and its people and some of them living outside Iraq,
but I have differed with the opinion that tries to diminish and diminish the character of the achievements of Iraq in the face of economic and financial crisis during the past four years The most difficult stage experienced by Iraq in previous years.
On the occasion of the end of 2018 and the reception of a new year decided to review and analyze and establish the neutrality and transparency of the economic situation in Iraq through his career for the past four years and in particular has been achieved by the ministries and economic institutions in Iraq from the point of view of a specialist and expert and researcher in economic and banking matters reached the facts and indications and signals And achievements
confirm that the Central Bank of Iraq proved to be the first economic institution in Iraq for 2018 through its important achievements in support of the national economy and achieve economic steadfastness and seek to achieve economic stability in accordance with the strategy in 2020 and Lotto Ih is based upon the facts in order to say that the central bank was first in the 2018 is the following: -
After mid-2014, Iraq suffered two security and economic shocks due to the war on terrorism on behalf of the world's countries and the fall of oil prices, Iraq's main supplier, by more than 70%.
Therefore, the men of Iraq must confront these two shocks, since such confrontations have their customs and laws.
In the military custom, the armed military forces can not achieve victory over the enemy without a civil and economic effort.
The private sector is the economic effort that contributes to decisive military victory.
This is what the Iraqi National Bank's distinguished team has already achieved.
It asks the Arab and international economic organizations and observers of the economic movement of countries and their experiences in overcoming the crises and achieving economic reform to assess the stage of the previous four years in which our country faced an economic and financial crisis suffocating the well-known causes in which victory is achieved on terrorism accompanied by another victory is the steadfastness and economic victory which was In which the Central Bank of Iraq and its governor plays a key role in achieving it.
The most important of these is
the support of the state treasury,
the stability of the exchange rate,
the recovery of the Iraqi dinar,
the reduction of inflation,
the maintenance of its share of less than 2%,
the preservation of a 160% cash reserve as a cumulative accumulator according to the latest IMF standard, Excellent record rate.
In addition to its adoption standards and controls consistent with the requirements of international standards in compliance and combating money laundering and financing of terrorism and the basic objectives and subsidiary strategy set up to 2020 and the activation and consolidation of new visions of monetary policy applications and
the important thing that is achieved is the exchange rate stability in 2018 and reduce the gap between the official price of the US dollar And the parallel price,
which is a fundamental objective of the monetary policy and the implementation of policies to restore confidence in the banking transactions of the Iraqi banks with Arab and foreign banks and the quest to build a solid banking sector and the continuation of extraordinary efforts to feel Banking reputation of international financial institutions and organizations and correspondent banks.
And building strong relations with Arab and foreign central banks and international financial organizations.
Also, procedural, regulatory, structural and internal development policies were designed to achieve financial stability and develop the banking business technically, structurally and organizationally and raise the percentage of financial coverage to the target ratio.
And the mechanisms of banking which formed a solid base on the domestic and external scale.
At the same time, I congratulate and congratulate the sons of my Iraqi people and their brave military and security forces on the victory over terrorism and its eradication from the land of Iraq and your cooperation with the Central Bank of Iraq for its contribution to achieving economic steadfastness and decisive victory over terrorism.
With sincere wishes for a new Happy New Year and to take the steady steps of radical economic reform and comprehensive and that the new government will be able to implement its governmental platform in the axis of strengthening the national economy and the development of the governmental and private banking sector.
* Economic and banking consultant
Views 79 Date Added 26/12/2018