Central Bank decides to support banks five trillion dinars and finance the budget six trillion dinars
Central Bank decides to support banks five trillion dinars and finance the budget six trillion dinars
27/01/2015 10:42 GMT
BAGHDAD – and babysit – Iraqi Central Bank decided Tuesday to support commercial banks to five trillion dinars and finance the budget six trillion dinars.
According to a statement of the bank, “public opinion” has received a copy of it, he was “in line with the central bank’s tasks and responsibilities in supporting the development and stimulate the Iraqi economy, the Administration approved the Central Bank Council, among other proposals made by the Bank’s management, including the liquidity support specialized commercial banks in the amount of five trillion dinars to enable them to provide loans to industrial and agricultural and providing housing and real estate loans in support of economic activity and job creation. ”
“It also decided to finance public Budgeting state $ 6 trillion dinars run through 50% of the deposits of commercial banks reserves with the Central Bank of Iraq,” noting that “he also decided to buy back treasury bonds from the secondary market, where the central bank will buy about (5 ) five trillion dinars first stage of those bonds. ”
The bank said that “the actions taken by the Bank for upholding the private reserves of the Central Bank of Iraq.”
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