Iraq: First Review Under the Stand-By Arrangement and Financing Assurances Review Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Iraq
September 15, 2008
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The First Review under the Stand-By Arrangement (SBA) discusses policies focused on measures to accelerate the reconstruction of the Iraqi economy while maintaining macroeconomic stability. Inflation has slowed down, and monetary and exchange rate policies have been adjusted. The Central Bank of Iraq (CBI) will increase the pace of appreciation of the dinar and keep the policy interest rate positive in real terms to keep inflation under control. Restructuring plans for the two largest state-owned banks will be developed on the basis of their finalized financial and operational audits.
Subject: Banking, Budget planning and preparation, Expenditure, Foreign exchange, Imports, International trade, Oil exports, Public financial management (PFM)
Keywords: Africa, audits of the Central Bank of Iraq, authority, branch account, budget, Budget planning and preparation, central bank of Iraq, CR, East Africa, financial management system, government, Imports, Iraq's Stand-By Arrangement, ISCR, Middle East, North Africa, Oil exports, State oil
Pages:
52
Volume:
2008
DOI:
Issue:
303
Series:
Country Report No. 2008/303
Stock No:
1IRQEA2008002
ISBN:
9781451819168
ISSN:
1934-7685
