New Treasury auction of remittances in April next year

Last updated 03/29/2016 - 10:51 Views 1

Economy News / Agencies ...

Manages the central bank, as a financial agent of the ministry manages Auctions remittances, on the twentieth of April next auction of the Ministry of Finance for the sale of treasury remittances annual for 364 days at $ 400 billion emissivity
This comes on the basis of the public debt, which authorized the Ministry of Finance issued treasury remittances are guaranteed by the government law.
It is scheduled to participate in the auction a number of government departments to buy the amount Asdarih.
According to the determinants of the annual budget bill, the ministry issues remittances treasury for funding purposes
To reach the goals of this funding has identified the Ministry of Finance system and a mechanism to establish Auctions remittances government coffers to be held in
According to the economist, the treasury transfers are being handled internally (inside Iraq) which is a financial bonds issued by the government and a duration of three months to a year, and these papers do not bear interest but are sold given a discount on the nominal value of the government and give them a relatively low cash benefit compared to the interest rate prevailing on bank loans due to the severity of the liquidity stemming from these cases could be deducted before the date of maturity in banks
The Ministry of Finance has approved a public auction for the sale of remittances to the treasury for 364 days and $ 400 billion dinars.
A statement by the central bank in this regard has been selling the full amount of Asdarih and the highest price cut of competitive auctions 4.00 percent and the average yield 4.00
The number of participants each won 4 of the National Pension Commission and the Department of the care of minors Asdarih full amount by the amounts they gave.
The ministry earlier announced its plan for the current year for internal borrowing to issuing treasury transfers through auctions.
The plan included the establishment of 11 annual auction managed by the central bank, held two of them so far, the first was on February 24 and the second was held in the twenty-third of the month