By John Lee.

The Central Bank of Iraq (CBI) has reported that 30 banks and 17 remittance companies took part in its currency auction on Thursday.

A total of $140,261,784 sold at a price of 1182 Iraqi Dinars (IQD) per dollar.

(Source: Central Bank of Iraq)

By John Lee.

The Central Bank of Iraq (CBI) has reported that 30 banks and 17 remittance companies took part in its currency auction on Wednesday.

A total of $154,161,114 sold at a price of 1182 Iraqi Dinars (IQD) per dollar.

(Source: Central Bank of Iraq)

By John Lee.

The Central Bank of Iraq (CBI) has reported that 28 banks and 17 remittance companies took part in its currency auction on Monday.

A total of $154,804,895 sold at a price of 1182 Iraqi Dinars (IQD) per dollar.

(Source: Central Bank of Iraq)

Abadi adviser: Financial will issue bonds worth 5 trillion dinars to pay dues of contractors and farmers

Affirmed the financial advisor to the Prime Minister Haider al – Abadi, on Sunday, the Ministry of Finance will issue bonds to pay five trillion dinars dues Contractors , amounting to about seven trillion and six billion dinars to pay the remaining amount of other bonds subject to coverage by law the budget for the next year in 2017,

and as pointed out that payment will be 100% for strategic projects and 50% for the other, economists called on the government to develop a comprehensive plan to review the project since 2013 to uncover cases of corruption that accompanied her.

he said theappearance of Mohammed Saleh said in an interview to the (long – Presse), said that "Contractors dues paid approximately seven trillion and six billion dinars to meet physical completion ratios varying contracting projects completed with the government , "noting that" the government has adopted a specific mechanism for the payment of those benefits include 100% payment for strategic projects, amounting completed 80% or more ratio, while the payment of 50% for those below the percentage completed for 80%.

" Saleh added that" thebenefits will pay a government bond issued by the Ministry of Finance and managed by the Central Bank ofIraq on behalf of the government , "noting that" the duration of the bond of three years from the date of issuance annual interest rate of 5%. "

He continued financial advisor to the Prime Minister, that " the bond issue was worth five trillion dinars , " pointing out that " the rest of the dues will be paid other bonds provided coverage law budget for the next 2017".

He stressed favor, that "farmers who handed over their cereal crops to the Ministry of trade for the years 2014- 2015 to 2016, and did not collect their dues, Ciecmlon in that settlement , "explaining that" can beneficiary of the government of Sindh to keep it or mortgaging or transferring ownership, as well as his opponent and turn it into cash means off the central bank if they wish so.

" it was Council of Ministers, approved in the (14 June 2016), the launch of dues contractors by 50% of the total dues as a down payment, and to report the implementation of the first chapter of the general budget in 2016 the House of Representatives for. in turn , an economist Mustafa Mohamed Habib said in aninterview for " term ", that" the lack of liquidity of the federal government as a result of lower oil prices , with an accumulated debt of an estimated 8 trillion dinars for companies and local contractors in addition to the farmers.

" He added that" the duty of the government to pay its debts due and payable by the laws of all the unfinished projects that reach ratios completed 90 % and the priority will be for infrastructure and ruling.

" He explained the beloved" the development of a database by the government describes the lagging projects which do not represent a priority for citizens and granted their licenses by administrative and financial corruption that suffered by the state over the past ten years.

" He said the " power the Executive is determined to distribute part of international loans to pay off internal debt according to prepared tables for this purpose.

" considered part of the Commission of economy parliamentary borrowing" negative case "has sought refuge Iraq" obliged ", as pointed out that the money will be borrowed will be allocated to important sectors such as health and education and displaced persons.

she said committee member Rep . Najiba Najib told a news briefing seen by the "long", he said that "access to credit is one of the negative situations where making there is an obligation on the state incurred in future fiscal years, " indicating that "Iraq has turned her forced as a result of their military commitments and the lack of revenue oil and the inability of previous governments to provide funds in the public treasury.

" she said Najib" the loans are not granted by theinternational organizations randomly or without conditions or restrictions , "pointing out that" the IMF conditions imposed on Iraq in the interest of money management State of Iraq and establish procedures and new ways and correct management of the Iraqi budget including to reduce operating expenses, and increased financial non – oil revenues.

" The answer to" The money that is borrowed by the state will be allocated to the sectors of the mission include health and education, in addition to reducing the suffering of the displaced, " asserting that " the lack of revenue led to reduce the financial allocations for this important and dynamic sectors."

He agreed IMF and the World Bank Trust Fund and international partners, in the May 19, 2016 to give Iraq a loan of $ 15 billion and conditions thereof, to reduce its expenses to 13 trillion dinars and payments to the oil companies .

the Council of Ministers decided in the (19 April 2016), the formation of a committee headed by Minister of planning and the membership of the Iraqi Central Bank Governor and advisers economic and financial to the Prime Minister and the agents of the finance and planning ministries, holds the structure and controls the completion of the distribution of Contractors benefits through the bond process of developing government, to submit its recommendations to the Prime Minister for approval within a week.

Reform plans awaiting allocations and mechanisms of action

7/24/2016 0:00

BAGHDAD Shokran Fatlawi
said economic consultant Baghdad forum Samir Abbas Alnasiri to put in place mechanisms implementation strategy of the Central Bank of Iraq for the years 2016-2020 aimed at reform and private sector development requires identifying ways and procedures and the allocation of the necessary funds for their implementation, on the parallels that initiate the private sector to reform himself and the organization of the joints done in accordance with the best technologies that the world is witnessing.

He suggested Alnasiri «morning» in order to achieve the strategic objectives of there form need to allocate the amount of the IMF loan is distributed according to the grant provided by the Bank to the government each time for a period of three years ,

which accompanied customization distribution to finance industrial and agricultural sectors and housing according to the mechanisms Awaltalimat approved by the Council of Ministers in partnership with private sector representatives. creation of an independent body and pointed out the importance of creating an independent body for the private sector, undertake the implementation of the government ‘s plans designed to support and stimulate the private sector in coordination with its representatives,

pointing to the need to form a unified council to the private sector represents all unions and organizations forums and meetings and sectoral public holds these parties elected under the supervision of the legislative, executive and judicial power , as well as subjecting distribution and exchange and finance operations for monitoring and follow – up, audit and evaluation based on audit firms of international.

General Federation of cooperationand noted Alnasiri to the necessity of activating the General Federation of cooperation by stimulating and encouraging housing co – operative societies and the establishment of Baghdad Municipality and local governments in the provinces to allocate residential land,

sorting and preparing designs for the construction of cities and residential complexes incoordination with investment and private sector circles that the keys are delivered the citizen and the subject of distribution operations for Oatia income and slum inhabitants and benefit from a loan the World Bank fund in this sector on the exchange transactions are subject to review and monitoring and auditing.

Alnasiri said that the government through the Ministry of Agriculture and water resources inventory of arable land in all the provinces, including the provinces of Kurdistan and ask local governments to secure there quirements of supplies cultivate these lands and invest directly activates all graduates of agricultural colleges and institutes,

through a contract with them or with the private sector to be cultivated and invested and marketing of agricultural production and the division of the income earned between the workers and the local government and thus achieved two goals the first economist ,

a switch to a productive economy and the second is social and is young graduates run and transferred to the producers.

launch the electronic form the Council of Ministers issued during the past few days a decision launch of the electronic form for the promotion and facilitation of government measures financing small and medium enterprises and to encourage the production process in agriculture, industry, housing, support and stimulate the private sector.

He added that the provision of the central bank’s six trillion five hundred billion dinars amount of investment is designed to achieve the government ‘s plan to restructure Iraq ‘s economy and moving it from rentier economy to a productive economy and give the private sector a key role in achieving this.

the central bank has launched Strutijeth for the years 2016-2020 in conjunction with calls for comprehensive change of the Council of Ministers and the House of Representatives, which has identified and painted the road of reform and in accordance with the objectives of the main and foremost to support and achieve financial stability,

activating the role of financial institutions and the banking sector, the development of the organizational structure and the organizational structure, human capital and activation and integration of the development of the internal relations and external.

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.