Crisis cell directed the central bank to issue "national bonds" and determine the usefulness of 5% for contractors

11/04/2016 16:01

Long-Presse / Baghdad

Revealed a document issued by the Office of the Prime Minister Haider al-Abadi, on Monday, that the crisis cell and directed the Ministry of Finance and the Central Bank to issue national bonds to tackle entitlements companies contractors, document noted that the annual interest rate for these bonds amounting to 5%, while a source familiar said that the value of bonds of up to about one billion and 500 million dollars.

She said the document, which received (range Press), a copy of which, the "crisis cell During its seventh meeting, chaired by Prime Minister Haider al-Abadi and directed the Ministry of Finance and the Central Bank to issue national bonds in Iraqi dinars to tackle entitlements Contractors companies annual interest rate of 5% to be the vesting period after two years from the date of issuance. "

The document added, "These bonds are subject to prohibit the consumption and can be used as collateral to get loans from banks," pointing out that "the crisis cell set interest rates for those bonds trading by 8% during the year."

In a related development, a source familiar with the interview (range Press), "The value of these bonds may detect up to about one billion and 500 million dollars."

The Central Bank of Iraq, announced on Sunday, (April 10, 2016), for the approval of a cell of the financial crisis, headed by Iraqi Prime Minister Haider al-Abadi, to issue bonds to pay dues of contractors and suppliers on the state institutions, as he emphasized that the bond is a guarantee for loans at full face value , he pointed to the possibility of deducting those bonds in banks or sold in the market.

And it discussed the Iraq Stock Exchange on Monday, the (4 April 2016), with the Central Bank of Iraq government bonds put up in the Iraqi Stock Exchange mechanism, while confirming the formation of committees to follow up the matter thoroughly.

The governor of the central bank on the Keywords, announced on Monday the (15 February 2016), the launch of the strategy of the Central Bank for the years 2016 to 2020, and stressed that the strategy was launched in accordance with a clear vision and a guaranteed and adopt monitoring and real follow-up financial situation of Iraq, as revealed by the central bank's determination sale bonds to the public $ 7 trillion dinars during this year.

The Central Bank of Iraq, called on Monday, the (1 February 2016), citizens to the acquisition of national bonds, which will present soon, instead of relying on "hoarding money", as he emphasized that those bonds will have "good financial benefits."