On April 25, the Arab Monetary Fund organized the tenth session of the Arab Finance Ministers’ Council to discuss the support of small and medium enterprises, the requirements of developing social security systems, strengthening public debt management and benefiting from modern technologies to improve tax systems and services and follow up progress in the Arab clearing project. During the session, the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alak, was elected as Deputy Chairman of the Board of Governors of the Arab Monetary Fund at its current session and as Chairman of the Board for the next session.
The renewal of confidence by the Arab banks that are members of the Fund with the Iraqi economy and the efforts exerted by its national economic institutions, in particular the evaluation of the great role of the Central Bank of Iraq during the past four years on the level of internal construction and development in the applications of monetary policy and the level of building strong international financial and banking relations with The Arab countries and foreign countries, where the institutions of the achievement of clear achievements during the economic and security shocks experienced by Iraq after the middle of 2014 and contributed to the economic steadfastness, which helped our armed forces to achieve the text On the expeditious terrorism.
Therefore, through the review, analysis and evaluation impartially and transparently of the Iraqi economic situation and in particular is being investigated by the ministries and economic institutions in Iraq from a competent point of view has been reached facts and evidence and signs and achievements confirm that the Central Bank of Iraq proved to be the first economic institution through its important achievements in supporting the economy And achieve economic steadfastness and strive to achieve economic stability in accordance with its strategy and this is achieved by the work and reality and the team of the Central Bank of Iraq National Excellence. As he contributed to the victory of victory over terrorism accompanied by another victory is the steadfastness and economic victory, which was the team of the Central Bank of Iraq and its governor a key role and leading in achieving.
And the economic victory achieved results, most notably the most important support the state treasury and stabilize the exchange rate and recovery of the Iraqi dinar and reduce inflation and maintain the rate of less than (2%) and maintain a cash reserve sufficient by 160% as cumulative accumulator according to the latest standard of the IMF with a reserve of gold within The adoption of standards and controls in line with the requirements of international standards in compliance and combating money laundering and terrorism financing and the basic objectives and subsections of its strategy and the activation and consolidation of new visions of monetary policy applications and the important thing achieved is stability Exchange rate and reduce the gap between the official price of the US dollar and the parallel price, a key objective of monetary policy.
And the implementation of policies to restore confidence in the banking transactions of Iraqi banks with Arab and foreign banks and the quest to build a solid banking sector and the continuation of extraordinary efforts to improve the banking reputation of institutions and international financial organizations and correspondent banks.
The establishment of strong relations with the Arab and foreign central banks and the international financial organizations. Also, procedural, regulatory, structural and internal development policies have been drawn up , which aim at achieving financial stability and developing the banking business technically, structurally and organizationally and raising the financial coverage to the target ratio. And the mechanisms of banking which formed a solid base on the domestic and external scale. It was all these achievements that called on the governors of the Arab banks to elect the relations of Na’aba and the President of their Council in the next session, which is an embodiment that Iraq’s economy is recovering and recovering from its crises and that is a tribute to the Iraqi people and its economic, financial and banking institutions.
|Part of the Iraqi cabinet meeting|
Economy News Baghdad:
The Council of Ministers has reached an agreement to implement the development map of the electricity sector in Iraq in cooperation with the German company Siemens.
“The Council of Ministers approved an agreement to implement the map of the development of the electricity sector in Iraq in cooperation with the German company Siemens,” the council said in a press statement.
The news agency “Reuters” the issuance of a new video of the leader of the “Daash” Abu Bakr al-Baghdadi, for the first since 2014.
The new video was published by Al-Furqan, a subsidiary of Al-Furqan, an affiliate of the “Al-Furqan” organization.
“During the meeting, they exchanged views on strengthening economic relations and developing trade balance between Iraq and China,” the statement said.
“Zank Tao stressed the keenness of his country and Chinese companies and businessmen to participate in the reconstruction and construction campaigns and provide the necessary assistance to ensure oil for investment,” the statement added.
The statement added that “the two sides discussed the importance of re-activating the road belt, what was called the Silk Road to ensure the smooth movement of goods and goods between the countries of the region.”
He also reviewed the work of Chinese companies in Iraq and some obstacles to their work and the two sides discussed solutions to overcome these obstacles.
The meeting was attended by the Political Advisor, the Commercial and Political Attachés of the Embassy and the Advisor to the Committee on Economic Affairs. is over