The central issue bonds to pay dues Contractors

Abadi agrees to pay dues of contractors and suppliers of state institutions

2016/4/10

{Baghdad: Euphrates News} Iraqi Central Bank announced the approval of the financial crisis cell headed by Prime Minister Haider al-Abadi on the issuance of government bonds for the payment of contractors and suppliers on the state institutions.

According to a statement of the bank and the Euphrates News Agency {} received a copy of it today, "the Iraqi Central Bank announced the approval of the financial crisis cell headed by the Prime Minister on the proposal of the central bank to issue government bonds for the payment of contractors and suppliers of state institutions."

"It can be deducted those bonds at banks or sold in the market, as can be provided for loans and be considered a guarantee for loans at full face value and will contribute to ending the problem of entitlements and its aftermath, will also launch to stimulate economic activity and moving the work environment in all sectors" .anthy

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[ltr]The central issue bonds to pay dues Contractors[/ltr]

 Since 10/04/2016 15:56 pm (Baghdad time)
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[ltr]Central Bank of Iraq, said Sunday, the approval of the financial crisis cell to issue bonds to pay dues of contractors and suppliers of state institutions.[/ltr]
[ltr]He said the Iraqi Central Bank said in a statement received / balances News / copy of the "financial crisis cell headed by Prime Minister agreed to the proposal of the Central Bank to issue government bonds for the payment of contractors and suppliers of state institutions."[/ltr]
[ltr]Central pointed out in his statement that "those bonds can be deducted when banks or sold in the market, as can be provided for loans and be considered a guarantee for loans at full face value."[/ltr]
[ltr]He pointed out that it "will contribute to ending the problem of entitlements and its aftermath."[/ltr]
[ltr]He also stressed that he "will launch to stimulate economic activity and moving the work environment in all sectors".[/ltr]
[ltr]The Central Bank of Iraq announced on the tenth of March his intention to put up bonds of a national five categories of mid-April, indicating that the Annual her interest amounting to 6%, among it can be used as collateral for loans and financial facilities, in an additional step to the government's decision Iraqi charging Estrada cars of all kinds, looking for sources of financing the budget deficit in the country and to secure other sources enables the Iraqi government to confront the financial crisis.[/ltr]
[ltr]The central bank said in an official communiqué that he "will launch national bonds (nominal) on behalf of the Ministry of Finance in nominal terms in the 15th of the month of March 2016 and ends on the 15th of April in 2016 Basaddarah of five categories (100 000 dinars and 250 dinars and 500 thousand dinars and one million dinars to five million dinars) of $ 1.5 trillion Iraqi dinars. "[/ltr]
[ltr]CBI pointed out that "those bonds will be sold by discounting an interest rate of 6% per annum and is payable by the Ministry of Finance in the 14 March 2018".[/ltr]
[ltr]He pointed to the author that he "could use these bonds as collateral for loans, facilities or any transactions require collateral."[/ltr]
[ltr]Iraq is seeking to issue an internal national bonds to finance the deficit in the public budget for Iraq as a result of falling oil prices to below $ 30 per barrel.[/ltr]
[ltr]The Iraqi government relies on oil revenues by more than 90% to meet the chapters of the budget and cover the other part of the collection of certain taxes and border crossings.[/ltr]
[ltr]The governor of the Iraqi Central Bank, on the Keywords announced plans to start selling bonds worth 7 trillion Iraqi dinars (about US $ 6 billion), the citizens, during the current year, in a move to reduce the fiscal deficit in the country's budget, due to low oil prices in global markets.[/ltr]
[ltr]He said that the bank "authorized private banks, using 50% of their funds in has, for the purchase of money orders treasury by four trillion dinars (about US $ 3.6 billion), and will issue remittances treasury worth five trillion dinars (about 4.2 billion dollars) and put it to the public."[/ltr]
[ltr]The Finance Minister Hoshyar Zebari warned of the possibility of failure to pay wages of employees in the month of April in the case of the continuing decline in oil prices, while the comments had Iraqi fears that their country on the verge of bankruptcy actually, especially in light of the war on the organization Daash.[/ltr]
[ltr]He pointed out that "there are seven million people earning salaries of Iraq's total population of 36 million," noting that "the total amount to be distributed from the monthly salaries of four billion dollars," .anthy 29 / tc n[/ltr]




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