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The central bank is preparing to lend to the government to secure employee salaries
17:09 - 04/21/2020
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The Parliamentary Economic Committee confirmed, on Tuesday, that the Central Bank of Iraq is ready to loan the government to secure employee salaries in the event of continued collapse in oil prices.
The committee member, Mithaq Al-Hamdi, said in a statement to "Information", that "the central bank informed the parliament economic and investment committee of its willingness to provide financial loans to the government for investment projects and secure employee salaries," pointing out that "the central bank is able to fully secure employee salaries."
She added that "the reserve of funds in the central bank is good and can be used for internal loans," noting that "the government does not intend to go towards compulsory savings at the present time and may resort to it at the end of this year if the global oil price collapse continues."
US crude futures for May delivery returned to decline again in today's trading, as it fell to a level below zero. It ended 25 T.
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