CBI announces measures to boost liquidity by more than one trillion dinars in Iraq

Shafaq News / The Central Bank of Iraq (CBI) announced that it has taken measures that would contribute to strengthen cash liquidity, including an amount of one million dinars per year.

The bank said in a statement today that the recent measures taken by this bank related to reducing the proportion of the mandatory reserve for bank deposits will contribute to enhance banks liquidity by an amount of (one trillion Iraqi dinars) to reduce the impact of the contraction resulting from   Corona pandemic.

Reports indicate that Iraq is facing difficult economic conditions due to the outbreak of Corona epidemic and the low demand for crude oil in global markets, which may not enable it to pay those who receive monthly salaries from the government.