Press Release

The Governor of the Central Bank of Iraq Mr. Ali Mohsen Ismail participated in a session of the Institute for Development Policy Progress

His Excellency the Governor of the Central Bank of Iraq, Ali Mohsen Ismail Al-Alaq, participated in the session organized by the Institute for Development Policy Progress on Saturday, July 15, 2017 with a number of the bank's Directors and a number of specialists in the financial and economic fields.

His Excellency discussed the various matters related to the banking matters and also the financial situation of the country, indicating during the meeting the problems facing the balance of payments, especially deficit in the budget of 2017, which leads to instability of the state budget because the volume of dependence on money that comes from abroad is higher than the money that Come from inside.

The governor explained that the deficit in the balance of payments is putting pressure on the central bank because the country today is unable to entering foreign currency in addition to the money coming from oil. Also the balance of payments deficit means that the country is unable to attract investors, tourists and others.