Central directs the purchase and discount bonds reimburse contractors

economy Since 06.20.2016 at 09:11 (Baghdad time)

Baghdad balances News
The face of the Iraqi Central Bank, on Monday, three banks to buy discount reimburse contractors bonds.

The head of the Iraqi Economic Council, Ibrahim al-Baghdadi, in a statement received / balances News / copy of it, "the CBI brought three government banks Rafidain and Rasheed Iraqi trade, buy and deducting all the special government bonds to pay the private sector dues, instead of late financial dues to these companies."

The statement added that "those bonds amounting to 50% of total receivables, and paid as a down payment and the amount of the total amount of its 3.5 trillion dinars, almost."

He continued, "where it will be liquidated into cash, to be a step in this rewarding and meaningful to private companies after the great damage to this vital sector as a result of the delay in payment of dues by the government."

He pointed out, "It is hoped that these funds contribute to cover a large part of the scarcity of cash, where would move the wheel and the movement of the financial markets, trading in all," persisting "as it will solve many of the social and tribal and legal problems."

The statement pointed out that "the central bank pledged to the banks that will cover any need or shortage of liquidity that has, for the purpose of completing the acquisitions and deducting all of the owners of these bonds" .anthy 29 / A 43