Source: Iraqi retirees’ salaries postponed until September

An informed source reported on Wednesday that the disbursement of retirees’ salaries has been postponed until further notice.

The source told Shafaq News Agency that the salaries of civilian and military retirees for the current month of September have been postponed until further notice, which has not yet been announced, due to the lack of financial liquidity. He expected them to be distributed at the beginning of next week.

He added that it would have been more appropriate for the Ministry of Finance to borrow from government banks to cover the salaries of retirees who are in dire need of them, rather than granting loans under the so-called “initiative.”

The source also noted that the General Retirement Authority had announced four days ago a statement regarding the completion of the disbursement of retirees’ salaries for September, but that funding has not yet been received. He noted that retirees have what is known as a retirement fund, and the lack of financial liquidity is not expected to affect it.

Rafidain Bank announced this week the funding of the eighth tranche of Riyadah loans under the Central Bank of Iraq’s initiative, which amounts to between 20 and 100 million dinars.

Shafaq.com