Baghdad, September 28 (QNA) – Iraq has recorded the lowest inflation rates in history, alongside its ample foreign reserves that would augment the steady exchange rate of the Iraqi dinar, said Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al Alaq.

Addressing the Iraq Investment Forum, Al Alaq highlighted that Iraq is witnessing an increasing openness to investment, thanks to the successes achieved in monetary policy.

CBI plays a pivotal role in consolidating stability through effective financial and monetary policies and precise control of inflation rates, alongside launching economic initiatives that support the business environment and help the private sector operate in a conducive climate, he added.

Al Alaq further pointed out that monetary and financial stability has resulted from several factors, foremost among them the prudent management of financial reserves and the effective daily response to economic challenges, in addition to the development of the banking sector, which contributes to reinforcing this path. (QNA)