CBI to Support The Banking System Liquidity in Iraq

CBI to Support The Banking System Liquidity in Iraq

Iraqi Dinar 123 News:– The central bank of Iraq has decided for meaningful support to the banking system and to make it possible for foreign currency to decrease the deficit procedures of the 2015 budget. According to a statement, the Committee of the CBI have made special discussion on the Iraqi financial condition and the expected deficit in the budget 2015.

The CBI board decided to take extra measures and support banking system liquidity, so that they perform their normal activities and in the achievements of government debt instruments. They can promote supportable developments and also creating job opportunities for the betterment in Iraq.

The board also decided to make the procedure easier for the sale of foreign currency in a perfect way to make it possible the preservation of the market and the stability of exchange rate. After a major decline in the global oil prices, Iraq is facing major financial crises, which have affected negative impact on the Iraqi budget and a large amount of deficit in it. After a complete round of discussions and expected solutions to reduce the deficit, next Thursday may be the date for voting on the Iraqi 2015 budget.

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