Purchase directs Central discount bonds paying contractors

An economy Since 2016-06-20 at 09:11 (Baghdad time)

Baghdad scales news
Face of the CBI, on Monday, three banks to buy discount bonds reimburse contractors.

Iraqi Council Chief Ibrahim Al-Baghdadi in a statement/balance of news copy, "the Central Bank directs three Government banks, Rafidain and Rasheed and Iraqi trade, buy discount and all government bonds for reimbursement of private sector, instead of financial receivables overdue for these companies."

The statement added that "those bonds amounting to 50% of total receivables, paid as a down payment and the total amount of its $ 3.5 trillion dinars."
He continued, "where it will be liquidated to cash, to be a rewarding and meaningful step to private companies after the extensive damage inflicted on this vital sector by delaying payment of these benefits by the Government."

He said that "hopefully contribute these amounts cover a large part of scarce liquidity, so move the wheel and movement of financial trading in all markets," dyed "it will solve many social problems and clan and legal".

The statement noted that "the Central Bank pledged to the banks that will cover any need or lack of liquidity has, for the purpose of updating all discount purchases these bonds from their owners. ended 29/34