October 18, 2020 | banking

Iraq's Central Bank ''at Risk of Losing its Independence'


Kurdistan Region rice farmers harvest bumper crop

Finance Minister Ali Allawi said in a press conference following the adoption of the White Paper for Economic Reform by the Council of Ministers on October 13:

'... we have a solid and strong relationship with the Central Bank for the purpose of unifying monetary and financial policies, and this will provide us with the possibility to cover all the requirements and entitlements of the salaries of employees and retirees.'

This statement went unnoticed by all journalists, pundits and analysts. Nobody noticed the attempt of the Iraqi government to undermine the independence of the Central Bank of Iraq (CBI) to implement the financial policies approved by the government.

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