The Role of Monetary Policy in Facing The Repercussions of The Coronavirus (COVID-19) Pandemic on The Iraqi Economy


Faisal Ghazi Faisal
Jannat Al-Iraq Private College for Humanities, Ramadi, Anbar, Iraq.
Maan A. Abed
University of Anbar, College of Administration & Economics, Iraq.


The research aims to identify the role of monetary policy in Iraq in light of the Covid-19 pandemic and the negative effects of this pandemic on various economic sectors.with regard to the repercussions of the pandemic on the Iraqi economy Iraq’s crude oil exports decreased by (38.81%) than they were before the pandemic, and this decrease in oil exports led to a decrease in oil revenues by (51.94%). The pandemic also contributed to raising the proportion of total public debt in Iraq by (12.67%) than it was before. In light of these consequences monetary policy representative by the Central Bank of Iraq (CBI) had to meet in order to mitigate the consequences of this pandemic. The Central Bank of Iraq has intervened through a number of measures, the most important of which is reducing its reserves from 15% to 13%, as well as reducing interest on loans that expire at 20 million Iraqi dinars from 4.8% to 3.5%, between 21 million. Dinars to one billion dinars interest 4% after it was 6.3%, and other measures will be covered in this research.