The governor of the central bank sets two goals for monetary policy in Iraq
The governor of the central bank sets two goals for monetary policy in Iraq
2023-03-16
Today, Thursday, the governor of the Central Bank of Iraq, Ali Al-Alaq, considered relying on the central bank to cover the general budget deficit as a “very dangerous” phenomenon that threatens monetary stability in Iraq.
Al-Alaq said in a speech during the Sulaymaniyah Forum, issued in a statement by the Central Bank, that “the monetary policy includes two basic goals: maintaining the general level of prices, i.e. the strength of the currency locally, and the exchange rate, which represents the strength of the currency externally.”
He added, “The phenomenon of relying on the central bank to cover the deficit of the state’s general budget is a very dangerous phenomenon, and the dependence of some governments on the central bank for financing threatens monetary stability.”
burathanews.com
