Ali Hassan al-Fawwaz
Talk about the issue of national bonds to address the entitlements of companies and contractors newly controversial will be, because it reveals, first, there is a real crisis in the financing of projects, and in the insurance agencies that implement these projects, as it raises questions about the seriousness of this step in the economic and political turbulent reality of Second dues.
And regardless of the assurances provided by the crisis cell during the last meeting, which directed the Ministry of Finance and Central Bank issuing national bonds in Iraqi dinars to tackle entitlements companies, contractors and suppliers of state institutions annual interest rate of 5 percent is the maturity period of two years after the date of issuance, the trust of these companies and contractors will be inhabited for concern, because it will affect the future projects that can offer them government agencies, especially that most of the contractors associated Bmdioniat imposed on them by the banks with which they do .. although the directives of the crisis cell has been considered these bonds tradable and can be used as collateral to get loans from banks, and that the annual utility by 8 percent a year, but the repercussions of the economic crisis and fiscal deficits, and the deterioration of oil prices, and the prevalence of many manifestations of corruption in the economic sector will be a reason to raise several issues about the seriousness with which can be adopted, or you can trust proceedings.
The determination of the value of these bonds (b billion and a half million dollars), reveals the existence of a serious and growing problems, and major complications associated with the nature of the projects that drained much of the state budget, which Maagay light on the possibility of securing a new and valid environment of trust between companies and official bodies, or even the existence of mechanisms regulate the relationship with the private banks, and the possibility of the adoption of the value of these bonds in dealing confidence in them, and in the circulation and acceptance in banking coverage for financial loans from governmental and non governmental banks to cover new projects, and even encouraged, especially since the Central Bank of Iraq will invite citizens to the acquisition of these national bonds, which will present soon, instead of relying on the hoarding of money, because it will be a source of good investigative financial benefits.
Questions that will be more realistic in dealing with the nature of this measure, which was adopted by the crisis cell to how that will make these tradable in the Iraq Stock Exchange bonds, Will be submitted by traders and speculators without hesitation or fear of the Iraqi market problems that suffer from shrinking? Is This step would be a real reason to stimulate economic activity, and the expansion of the ranges of the banking and other sectors work?
These questions will be cause to face major challenges experienced by the economic reality, and the need to search for the correct and far-work contexts for the bureaucracy to deal with the banking sector crisis and confidence in him, and face the realistic to the crisis of the fiscal deficit, because the accumulation of this crisis and the failure of the move rescue will reflect seriously on the economic environment and on dealings inside and outside.