Al-Attar calls for issuing (LC-BG) to activate the Iraqi economy

2019-06-19 05:07

BAGHDAD (Reuters) - Iraqi National Business Council member Ghadir al-Attar on Wednesday called for increased use of monetary tools to stimulate the national economy.


Al-Attar said in a press statement today that "the provision of a strong reserve of cash and gold contribute to raising the balance of the Iraqi Central Bank of hard currency and encourage investors to issue bank credits LC, transfers TRANSACTIONS and bank guarantees BG, which will positively affect the revitalization of the Iraqi economy and development rates."

Al-Attar added that "other factors that must be followed to contribute to the revitalization of the economy is the demand of investors and traders to place their deposits of cash and gold and bonds in government banks in order to provide cash and profits, which are about 8% of the value of the deposit and to keep and secure them in those banks" .

"The importance of the government's adoption of a five-year development plan for the construction and rehabilitation of oil refineries, iron and steel plants and petrochemicals, in addition to fertilizers and dairy plants."




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