Central Bank: monthly intentionally transfers for investment designed to bridge a budget deficit
Editor Haidar Majid. Monday 18 July 2016 21:47
The Iraqi Central Bank, said Monday that remittances by the Bank every month for the Treasury to finance the budget deficit in 2016, noting that Treasury remittances purchased by public retirement service and care of minors and two banks worth 400 billion dinars come to withdraw excess liquidity from banks or entities that have the ability to relinquish liquidity.
He said the Central Bank's financial operations manager Mahmoud Dagher in interview for alsumaria news, that "such remittances were part of a program to withdraw liquidity and supplement the public Treasury on a monthly basis," pointing out that
"this program with 400 billion dinars roof comes to withdraw excess liquidity from banks or entities that have the ability to relinquish liquidity and get back from this investment."
Dager said, "remittances is a program through the monthly Central Bank system for the Ministry of finance to finance deficits in the State budget for 2016."
The Central Bank had announced on Monday (18 July 2016), to care for minors and public retirement and two banks bought Treasury remittances worth 400 billion dinars, pointing out that the number of participants in the auction four participants.