Two banks and the Department of the care of minors buying treasury remittances worth 400 billion dinars
Baghdad / Ibrahim Ibrahim
the central bank said in a statement the " long "received a copy of it, that" banks and circle the care of minors purchased through public auction conducted by the central bank on behalf of the Ministry of Finance remittances treasury $ 400 billion dinars , "noting that" the duration of the assignment amounting to 364 days. "
Central and added that" the two banks and the care of minors bought the entire assignment and the highest price , "adding that" in the auction the number of participants reached three participants. "
for his part, economist Mustafa Mohamed Habib, in an interview for the " long ", said " the financial crisis taking place in the government , which paid for the issuance of national bonds to repay debt and provide liquidity they need to walk everyday transactions."
He added that " the sale of national bonds will contribute effectively in providing liquidity in excess of investment opportunities for the citizens and the mobilization of local segments of the market which isconsidered semi - currently suspended . "
said Habib said" the government motivate businesses and citizens toward the purchase of national bonds in excess of the Optional and safe savings process as well as the calculation of a good utility and content for aspecific period the price. "
He said the " government will be able to provide internal cash flow without relying on foreign loans that require activated the application of unfair conditions against some sectors of the economy. "
He stressed the beloved" The budget deficit, which amounted to approximately 25 trillion dinars Shell local market movement requires finding outlets to provide liquidity to the government by borrowing from the central bank to activate the industrial, agricultural and tourism sectors. "
The the care of minors Department in the Ministry of Labour and social Affairs announced on Wednesday (01.07.2016), for realizing the benefits of cash "rewarding" to slice the minors in an auction of treasury transfers the Iraqi Central Bank and Ministry of Finance exceeded one billion dinars in 2014, while shown that these profits are added periodically to the minors deposited in the department 's account.
according to the public debt Act , which authorized the Ministry of Finance remittances Treasury guaranteed issuance by the Government of Iraq, the Iraqi Central Bank as agent financially to Ministry of Finance auctions remittances treasury management of the Government of Iraq on behalf of the Ministry of Finance , which will , according to selectors the annual budget by issuing treasury remittances for the purposes of government funding law.