by Rocky Fri 15 Mar 2024, 2:52 pm
MM&C 3/14/24
Time: 03/14/2024 22:15:49{Economic: Al-News} Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani chaired a meeting that included the Minister of ... ͏ ͏ ͏ ͏ ͏ ͏ ͏
Time: 03/14/2024 22:15:49
{Economic: Al-News} Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani chaired a meeting that included the Minister of Finance, the Governor of the Central Bank of Iraq, and a number of relevant advisors, in the presence of the Director General of the Trade Bank of Iraq.
The meeting discussed, according to a statement from the Prime Minister’s Office, a copy of which {Al-News} received, “a number of issues pertaining to the government banking sector, related to government debts and non-performing private sector loans, and a number of decisions were taken regarding them, which were the following:
1-The Ministry of Finance begins paying government debts to the Trade Bank of Iraq.
2- Preparing a plan to be presented to the Council of Ministers regarding the repayment of troubled loans owed by the private sector to government banks, including the Trade Bank of Iraq.
3- Forming a joint committee to study expired credits; In order to return its funds to the public treasury.
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There may be more to the this story than mentioned here. But a take away is they have bad loans that need to be considered. Al-Alaq told us a few years ago the value Iraq's bad loans on the books and they were valued well over the previous era of the dinar they have mentioned.. Al-Alaq, Al-Sudani and Taif Sami all in the same rooom last night.. I like it.. ~ MM | | | |
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