The Central Bank Governor, Nizar Nasser, confirmed today, Thursday, that there are no ongoing currency printing operations, noting that rumors about printing new banknotes are inaccurate. This statement came during a visit by the Investment and Development Committee, headed by
senior member Nahida Al-Daini, to the Central Bank of Iraq. The visit focused on discussing the repercussions of changes in the dollar exchange rate and its impact on the investment and economic landscape, as well as the challenges faced by
investors and local companies. The committee reviewed the measures taken by the Central Bank to support the national economy, including the provision of concessional loans to citizens through government and private banks, with amounts ranging between 5 and 15 million
dinars. The Central Bank Governor pointed out that the gap between the official exchange rate and the parallel market rate, which previously reached 24%, has now decreased to 9%. The committee emphasized the necessity to mitigate the effects of exchange
rate fluctuations on the costs of implementing investment projects, prices of raw materials, and contractual obligations, as well as their impact on market stability and citizens' purchasing power. They stressed the importance of finding balanced solutions that maintain monetary stability
while protecting economic and investment activities. Furthermore, the committee highlighted the significance of enhancing coordination between the Central Bank, government bodies, and the banking sector to remove obstacles facing investors and facilitate banking finance procedures, ensuring the continuity of investment
projects without imposing additional burdens on investors and citizens. It was also noted that stable monetary policy and clear banking procedures are fundamental pillars for creating an attractive investment environment. The committee affirmed its ongoing monitoring of priority economic issues
and its efforts to develop practical recommendations that support investment, safeguard citizens' interests, and strengthen the national economy.
