Financial borrow 200 billion dinars from the inside 12/23/2015
Financial borrow 200 billion dinars from the inside
After the finance ministry announced domestic borrowing plan for the fourth quarter of this year through the issuance of treasury transfers for the purposes of government funding, the ministry approved a last auction this year for the sale of treasury transfers to the annual order (364) days and $ 200 billion dinars. A source »Sabah» that during the auction Asdarih the full amount of the sale and the highest price for the cut of competitive auctions (4.5 percent) and the average yield 4.221 percent.
He said the number of participants has four banks and one bank won the bid is competitive as well as the national pension amounts made by the body. And included the Ministry of Finance plan at the time, the establishment of three annual auctions emissivity of $ 200 billion dinars, the establishment of the first auction took place in October 28 last and second auction was held on the eighteenth of November while the last was held on the seventeenth of this month.
The auctions of treasury transfers for the Ministry of Finance plan the government to borrow from the inside to finance temporary budget deficit. According to the Public Debt Law No. (95) for the year 2004, which authorized the Ministry of Finance issuing remittances treasury guaranteed by the government, the central bank, being financially to the ministry as an agent, the management of Auctions remittances Government treasury on behalf of the Ministry of Finance, which is in accordance with the parameters of the annual issuance of remittances budget law Treasury for the purposes of government funding. And included the Ministry of Finance for the 2014 plan to issue treasury transfers through the establishment of 10, including five annual auctions and other semi-annual emissivity of $ 500 billion dinars for each auction. While the borrowing plan for the current year, represented by the establishment of three annual auctions. According to the Ministry of Finance's website holds the Public Debt Department of the Ministry of Finance «task scheduling and the payment of the old and new domestic debt and the issuance of money orders and follow up on all things legal and topics relevant to the subject of Iraq's foreign debt settlement and legal payments against claims which are held abroad to the Iraqi government in external debt subject ».