Central Bank plans to issue bonds in local currency for the first time since 2003
Central Bank plans to issue bonds in local currency for the first time since 2003
13/11/2013 20:59
The central bank governor said that the first tranche of bonds is expected to be worth three billion Iraqi dinars
BAGHDAD / obelisk: Abdul Basit Turki Iraqi Central Bank Governor on Tuesday that Iraq plans to issue bonds in local currency for the first time since the overthrow of Saddam Hussein, which would allow the country’s new tool of monetary policy.
said Turki on the sidelines of a conference in Geneva that the first tranche of bonds is expected to be worth three billion Iraqi dinars (2.58 million dollars).
, adding that this would be the first time that being a bond issue for fiscal policy and not for the purpose of funding.
said Turki said he expected that the first version of the new bonds will give a good response has been followed by more versions and that the total volume of the issue will depend on demand.
would increase for bonds for five years and hopes the central bank to issue the first tranche before the end of the year, despite that the decision on this will be made with the participation of the Ministry of Finance.
Said The bond interest is expected to be less than the interest rate the standard of the Central Bank and of 6 percent.
added that the inflation rate in Iraq is 2 percent describing it as No. rare and very good.
said there were no plans to issue international bonds even though it may happen in the future if there are ambitious plans for development need funding.
almasalah.com
