Advisor to the Prime Minister: the central bank will not lend to the government in the event of low budget

Thursday, 25 December 2014 12:21


Alsumaria News / Baghdad

The prime minister for economic affairs adviser to the appearance of Mohammed Saleh , on Thursday, the central bank will not lend to the government in the event of low budget Iraq public, while noting that the bank heading to activate the budgets of development banks and housing funds.

Saleh said in an interview for "Alsumaria News" that "Article 26 of the Bank Act of 2004 explicitly emphasizes that he is not permitted to the Iraqi Central Bank lending to the government in the event of reduction in the general budget for Iraq."

Saleh added that he "can bank lending market through lending for development activities and in a form that activates the economy," pointing out that "the bank went to activate the budgets of development banks and housing funds."

The new law, the Central Bank of Iraq No. 56 for the year 2004 despite the objection of private banks on some of its articles, but he granted independence of the central bank's monetary policy in the administration of Iraq.


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