Financial Announces domestic borrowing plan

2/28/2016 0:00

BAGHDAD - Mostafa Hashemi
The Ministry of Finance announced its plan for the year 2016 for internal borrowing to issuing treasury transfers through auctions that are supervised by the central bank.

The plan included the establishment of 11 auction annually for the sale of treasury value of each auction remittances 400 billion Danar- MAP ministry bulletin this Al_khasos-.

Based on the public debt, which authorized the Ministry of Finance issued remittances treasury guaranteed by the government , the law, the Central Bank of Iraq, being an agent financially to the ministry manages Auctions remittances government treasury on behalf of the ministry , which will , according to the determinants of the annual budget law by issuing remittances treasury for the purposes of government funding.

According to a statement of the Central Bank 's first annual auction was held bears the number Y 17 in the twenty - fourth of this month after approval from the Ministry of Finance, as the full amount of Asdarih and the highest price cut of competitive auctions 4.00 percent sale average yield of 4.00 percent.

The statement added , participated in the auction 5 beneficiaries and won both the national pension Commission and the Department of the care of minors for the full amount Asdarih the amounts provided by the two departments.

It should be noted that the twenty - third of the month next March will see the establishment of the second auction of treasury remittances amounting Asdarih itself.

The Asdarih amount for each auction of Treasury auctions remittances for 2014 was 500 billion dinars, and the number of auctions that were held 10 auctions during 2014.