CBI warns of government policy to issue more cash transfers

BAGHDAD / IraqiNews.com: The Central Bank of Iraq (CBI) on Sunday warned that the government’s policy of pressurizing the bank into issuing cash transfers to finance its expenditure will damage the bank’s ability to fight inflation. The country has recently been suffering from inflation and related economic problems that may endanger production and reduce standards of living in the country, according to a CBI statement received by Iraqi News. “The CBI will then be blamed for the resulting economic imbalance and the country’s instability due to the government’s interference and its negative effects on the performance of the monetary policy,” the statement added. SS (P) 1