New auction of Treasury transfers next April
29/3/2016 12:00 am
Baghdad-Mostafa Hashemi
Manages the Central Bank as financial agent for the Ministry to manage the auctions in transfers April next tender for the Ministry of finance to sell safe remittance of annual term 364 days at $ 400 billion &
It is based on the public debt Act, which authorized the Ministry of finance to allocate Treasury guaranteed by the Government.
He is scheduled to participate in the auction of a number of government departments to purchase the amount of offerings.
According to the annual budget law selectors Ministry allocate Treasury for funding
In order to achieve the objectives of the Ministry of Finance has identified a funding system and mechanisms for establishing the Government allocate Treasury auctions held
According to the Economist, the Treasury remittances being handled internally (within Iraq) are bonds issued by the Government, ranging between three months and one year, and these papers do not bear interest but are sold at a discount to face value and the Government gives them a cash benefit is relatively low compared to the prevailing interest rate on bank loans due to high liquidity of these cases stemming from the due date could be deducted by banks
The Ministry of Finance has approved the holding of a public auction for the sale of long-term Treasury remittances 364 days and $ 400 billion.
According to a statement by the Central Bank in this regard that the full amount of the offerings were sold at the price of cutting Richelle, competitive auctions 4.00 percent and 4.00 average return
The number of participants 4 won both the national pension service and body care for minors with the full amount of the offerings by the amounts they gave.
The Ministry announced earlier this year plans for borrowing to issue Treasury remittances through auctions.
The plan included the establishment of 11 auctions yearly managed by the Central Bank, two of which until now I was on February 24, and the second was held on the 23rd of the month