Central Bank: We may take a decision to review the extension of the deferred loan repayment
The central bank explained the reasons for reducing loan interest for economic projects.
Ihsan Shamran, Director General of Accounting at the Central Bank, said in a statement to the Iraqi News Agency,
“The monetary policy of the Central Bank differs from the financial policy, and its decisions are usually short-term. Corona pandemic. ”
Shamran added that “the central bank had previously postponed the loan repayment period for a period of three months from April to the first of this July.”
The Central Bank of Iraq, had announced earlier, to reduce the interest rate on small and medium loans to four percent to accelerate the recovery of the Iraqi economy after being damaged by the Corona pandemic.