In six auctions of treasury transfers until July deficit was funded by about 3 trillion dinars

7/23/2016 0:00

BAGHDAD - Mustafa Ahalchmi

longer Auction of treasury transfers one means of monetary policy , which comes to contribute to reducing the budget deficit to Bld.ovi this regard regulates the central bank auction of the Ministry of Finance in the twenty - third of next month for the sale of treasury transfers annual for 364 days at $ emissivity 400 billion dinars .

internal borrowing , according to a private «morning» statistically , it was through these auctions, which were held since the beginning of this year, withdrawing liquidity in accordance with the borrowing plan from the inside of about a trillion and 700 billion and 520 million dinars to be re - employed in bridging the temporary budget deficit. based on the public debt Act, which authorized the Ministry of Finance issued remittances treasury guaranteed by the government, the Central Bank of Iraq, as an agent financially to the ministry manages Auctions remittances government treasury on behalf of the Ministry of Finance , which is in accordance with the determinants of the annual budget law by issuing remittances treasury for the purposes of government funding.

sale Asdarih according to a statement of the Central Bank, the auction of treasury transfers organized by the bank on the thirteenth of this month, the auction saw the sale amount Asdarih of $ 400 billion and 20 million dinars , the highest price cut of competitive auctions 4.00 percent and the average yield 4.00 percent to four participants in the auction Alemtemthleen Bmsrven circle care of minors retirement and body national Altven won the amounts they have given in the auction.

finance the deficit comes these auctions to finance part of the general budget for Iraq within the domestic borrowing plan issued by the Ministry of Finance to sell treasury transfers deficit, as the plan included the establishment of an auction in each month of the year.

It was determining the amount of Asdarih each auction until next month in august to 400 billion dinars, while the auction of the month of September and subsequent months has been defined in the amount of 300 billion dinars, according to the Ministry of plan of Finance.

The Asdarih amount for each auction of auctions of treasury transfers for 2014 was 500 billion dinars, and the number of auctions that were held in which 10 auctions.

the sale of money orders the Central Bank and Treasury remittances one of the procedures and means of monetary policy taken by the central bank to deal with the levels of liquidity on a temporary basis , as it represents an investment risk free and so he leads an active role in the secondary market.