By John Lee.
The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, announced on Sunday that Iraq is currently witnessing the lowest inflation levels in its modern history.
Speaking at the Iraq Investment Forum, he said that the country enjoys "comfortable" foreign currency reserves capable of defending the exchange rate, while monetary policy has successfully created a stable environment for investment.
According to the state-run Iraqi News Agency (INA), Al-Alaq highlighted that financial and monetary stability has been achieved through daily central bank policies, prudent reserve management, and reforms in the banking sector.
He added that controlling inflation and ensuring stable prices provide a critical foundation for private sector activity and investor confidence.
(Source: INA)
God bless Iraq. Hope it comes true.
Me too. It's about time.
All of that is good, BUT WHEN WILL THE DINAR GET REVALUED, AND TRADED ON THE FOREX.
So are they saying a future exchange rate or they can defend it at where it is now?