Central is preparing to issue treasury vouchers worth three trillion dinars to cover the contracts of electricity
| 14-08-2009
Bar News | 14-08-2009
Baghdad / Orr News
Advisor, Central Bank of Iraq in favor of the appearance of Mohammed, on Friday, the bank will issue the amount of money the Treasury 3 trillion dinars in the next few days, contracts for the electricity through the legal cash reserve maintained for the benefit of the banks.
The appearance of Mohammed Saleh, "it was agreed between the parliament and the Iraqi government and all of the Ministry of Finance and the Central Bank and the Ministry of Electricity to make the amount of money the Treasury three trillion Iraqi dinars, or equivalent
2.4 billion dollars, "he said, adding that the money orders" will be presented to the banks to buy them from the mandatory Alahiati owned by a central 25% of the capital of any bank which is sufficient to finance the loan to cover the contracts with the electricity companies GE
And Siemens. "
The Minister of Finance instructed the ninth of August of this money by issuing Treasury after the government's failure to obtain the consent of the Iraqi parliament to issue bonds to finance the contracts, which does not produce electricity, including Iraq, but 50% of the actual need.
According to Saleh, the central role would be "to facilitate the making remittances shall be accepted as part of the law without reserve that the procurement process and then transferred from the Iraqi dinar to the foreign currency," adding that "to resolve the issue of the importance of the payment of any money the two LG and Siemens to improve the level of electricity production in Iraq, in line with Iraqi law No. 56 for the year 2004, not inconsistent with the text of the budget law, which prohibits lending to the government, a provision which has been the cause of the problem in issuing the bonds. "
http://209.85.229.132/translate_c?hl...bEZEUKNUZJFh_g
| 14-08-2009
Bar News | 14-08-2009
Baghdad / Orr News
Advisor, Central Bank of Iraq in favor of the appearance of Mohammed, on Friday, the bank will issue the amount of money the Treasury 3 trillion dinars in the next few days, contracts for the electricity through the legal cash reserve maintained for the benefit of the banks.
The appearance of Mohammed Saleh, "it was agreed between the parliament and the Iraqi government and all of the Ministry of Finance and the Central Bank and the Ministry of Electricity to make the amount of money the Treasury three trillion Iraqi dinars, or equivalent
2.4 billion dollars, "he said, adding that the money orders" will be presented to the banks to buy them from the mandatory Alahiati owned by a central 25% of the capital of any bank which is sufficient to finance the loan to cover the contracts with the electricity companies GE
And Siemens. "
The Minister of Finance instructed the ninth of August of this money by issuing Treasury after the government's failure to obtain the consent of the Iraqi parliament to issue bonds to finance the contracts, which does not produce electricity, including Iraq, but 50% of the actual need.
According to Saleh, the central role would be "to facilitate the making remittances shall be accepted as part of the law without reserve that the procurement process and then transferred from the Iraqi dinar to the foreign currency," adding that "to resolve the issue of the importance of the payment of any money the two LG and Siemens to improve the level of electricity production in Iraq, in line with Iraqi law No. 56 for the year 2004, not inconsistent with the text of the budget law, which prohibits lending to the government, a provision which has been the cause of the problem in issuing the bonds. "
http://209.85.229.132/translate_c?hl...bEZEUKNUZJFh_g