New law governing the Central Bank of Iraq

Ambassador L. Paul Bremer, Administrator of the Coalition Provisional Authority, announced on Sunday 7 March the issuance of a new law governing the Central Bank of Iraq.

The new law provides for an independent central bank whose objectives are to achieve and maintain domestic price stability and to foster and maintain a market-based financial system. The Central Bank also has secondary objectives of promoting sustainable growth, employment, and prosperity in Iraq. The Central Bank will functi