Central Bank: Financial will issue bonds worth $ 5 billion sold to the public

Author: HA, HH
Editor: HA, HH
06/20/2015 11:53



Long-Presse / Baghdad

Detection Governor of the Central Bank of Iraq on the Keywords, on Saturday, for the approval of a cell of the crisis on financial bond issue worth five billion dollars sold to the public, and pointed out that the Bank assigned the management of the bonds as a financial agent of the government and will begin immediately issued, and as he emphasized that Iraq is bankrupt and did not exhausted resources to solve the liquidity crisis, ruled that affect the employees' salaries.

He said Ali Keywords during a joint press conference with the President of the Association of private banks in Iraq and Wadih Handal held in Baghdad and attended (range Press), that "the Bank will begin issuing financial bonds worth five billion dollars sold to the public after the approval of the crisis cell on the issuance of the Ministry of Finance bonds futures in dollars." noting that "this will achieve a good source."

Keywords and added that "the dollar will be the official price minus a certain percentage of the public buy it and pay him a year later at the official dollar approaching minus a certain percentage of the interest rate."

Keywords and pointed out that "the dollar will be the official price Matrouh a certain percentage of it bought by the public and pay him after one year at the price of the dollar rate it Matrouh interest rate convergence", noting that "the Bank as a financial agent of the government commissioned the issuance of those bonds."

Keywords and stressed that "Iraq is bankrupt and did not exhaust its resources to resolve the liquidity crisis," ruling out "the impact on the employees' salaries."

The Prime Minister Haider al-Abadi stressed, on Thursday (the eighteenth of June 2015) on the need to follow up and address any problematic novel about the dinar exchange rate against the dollar in the local markets, as approved crisis cell on the proposal of the Central Bank delete the amounts added on remittances, stressed the need commitment to the oil agreement with Erbil.

The Iraqi Central Bank announced, in (the eighteenth of June 2015), sold for $ 203 million to applicants in the currency auction, as he emphasized the need to cover the market.

Economists attributed, in the (16 June 2015), the high dollar exchange rate against the dinar to the floundering economic policy, and the neglect of the productive sector, while the Parliamentary Finance Committee confirmed that the concerned state has taken action to support the value of the dinar, which increase the width of the dollar in the market Package and acceptance of all purchase orders submitted by traders and banking companies and banks, and the abolition of tax deposit and customs that were collected in advance by eight percent.

Finance Committee in the Iraqi Council of Representatives promised, on Monday (the fifteenth of June 2015), that many of the question marks are raised on the outcome of the Iraqi Central Bank action to stop the deterioration of the value of the dinar against the dollar, while the economic and investment commission parliamentary felt that many of the economic crisis solution is to amend the law so as to ensure the bank's independence from the government, and carry Bankers "abuse" the central bank responsibility for a stronger dollar, despite the latter denied this and accused them of responsibility and speculators, and vowing action "deterrent"

The Central Bank of Iraq, decided Tuesday (June 16, 2015), considered Saturday formally durable, banks to meet the need of the currency, noting that it reduced the duration of the special deposit amounts from ten to five days.

And it saw the dollar exchange rate steady rise in the local markets, from about 1200 dinars to the dollar, the beginning of the current 2015 to 1400 dinars currently.


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