12-11-2013 09:25 PM
Baghdad (newsletter). Detection of the Iraqi Central Bank Governor Abdel Basset Turki said, that Iraq is planning to issue bonds in local currency for the first time since the overthrow of Saddam Hussein, which would give the country a new tool of monetary policy.
Happy for the ' AP ' on the sidelines of a Conference in Geneva on Tuesday that the first tranche of bonds are expected to amount to three billion dinars (2.58 million US dollars).
The Governor of the Central Bank, he said: this will be the first time that a bond issue for fiscal policy and not for the purpose of funding.
He continued: it is expected that the first version of the new bonds will be a good response and may be followed by more releases and the total size of the issue will depend on demand.
It will increase the bond order for five years and hopes the Central Bank issued the first tranche before the end of the year, although the resolution attached to it will be taken with the participation of the Ministry of finance.
He said: the bond interest is expected to be less than the standard interest rate of the Central Bank and the 6%, indicating: Iraq's inflation rate of 2%, describing it as a rare and very good number.
He stated: there are no plans to issue international bonds even though that might happen in the future if there are ambitious plans for the development of needed funding. /Finished/s. a./
[You must be registered and logged in to see this link.]