The International Monetary Fund praised the measures of the Iraqi government, including the monetary policy led by the Central Bank of Iraq, where the Central Bank of Iraq took several measures to stabilize the national currency and control monetary inflation.
The Central Bank of Iraq raised the interest rate on monetary policy instruments from 4 percent to 7.5 percent and increased the reserve requirement for banks from 15 percent to 18 percent. These steps have been crucial in reducing Iraq's inflationary pressures and have contributed to a more stable economic environment.
Important reforms in the banking sector, such as the gradual increase in bank capital and mergers between small banks, aim to strengthen the banking sector and increase its efficiency and resilience in the face of economic shocks.
Source (Al-Khaleej Emirati Newspaper, Edited)
