The Ministerial Council For The Economy Decides To Support The Independence Of The Central Bank In Formulating Monetary Policy
Economy News – Baghdad On Monday, the Ministerial Council for the Economy took several decisions, including supporting the independence of the Central Bank of Iraq and approving recommendations regarding the import of vehicles.
The media office of the Ministerial Council for the Economy stated, in a statement seen by Al-Iqtisad News, that “Deputy Prime Minister, Minister of Foreign Affairs, and Chairman of the Ministerial Council for the Economy, Fouad Hussein, chaired the seventeenth session of the Ministerial Council for the Economy, in the presence of the Deputy Prime Minister, Minister of Planning, and Ministers of Industry.”
Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank of Iraq, the Prime Minister’s advisors for economic and legal affairs, and the Chairman of the Securities Commission.”
He added, "The Council discussed the items on its agenda and took the necessary decisions regarding them, and hosted the President and Vice President of the Financial Supervision Bureau and the Director-General of the Legal Department in the Bureau to study and evaluate partnership contracts between the public and private sectors and demonstrate the economic feasibility of their continuation or termination."
He pointed out that "the head of the Bureau reviewed these contracts, which were divided between important contracts that benefit the state budget and contracts that lacked economic feasibility, and the Council decided to complete the discussions in the presence of representatives of the relevant ministries in order to resolve this important file."
The Council decided, according to the statement, “to approve the recommendations of the committee formed to study the adoption of Iraqi, Gulf, or higher specifications when importing vehicles in order to preserve the lives and safety of citizens and users of vehicles and roads.”
The Council discussed, “Determining the contribution of foreign capital to Iraqi banks, and in line with the state’s general policy in supporting the Iraqi and foreign banking sector and foreign investments in Iraq,” deciding to “support the independence of the Central Bank of Iraq in formulating monetary policy in accordance with its applicable laws and instructions.”
He hosted, “The Technical Undersecretary of the Ministry of Environment to discuss supporting the Ministry’s projects related to implementing the government program and removing obstacles that hinder its implementation.” 06/10/2024 - https://economy-news.net/content.php?id=44194
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