Evaluation of the role of monetary policy in achieving monetary and economic stability in Iraq for the period (2004-2020)

Abstract

The aim of the research is to analyze and evaluate the effectiveness of monetary policy in Iraq for the period (2004-2020). And its role in achieving monetary and economic stability, as monetary policy throughout the research period was able to reduce inflation rates and maintain the stability of the general level of prices, especially after the Central Bank obtained its independence after the issuance of law (56) for the year (2004). And the establishment of the currency auction and the control of sales and purchases of foreign currency and the fundamental changes in the work of monetary policy after the year (2003). On the foreign currency to cover it, as for the elasticity of the output money index, it was within the specified ratio, and this shows that money plays a prominent role in the GDP, while the domestic liquidity index did not have a clear impact on the increase of the GDP.