Central is preparing to launch bonds in local currency and asserts: We have a surplus of foreign currency

[yota691]

 

 

Iraqi Central Bank building in central Baghdad Imaging (Mahmoud Raouf)

Central is preparing to launch bonds in local currency and asserts: We have a surplus of foreign currency

 

Author: ASJ, BS 
Editor: BS 2015/08/26 18:37 Number of Views: 161 

 

 

Long-Presse / Baghdad

An informed source at the Central Bank of Iraq, on Wednesday, for the last willing to put up bonds for sale in the local currency, while pointing to a surplus of foreign currency in the country.

The source said in an interview with the (long-Presse), that "Iraq needs funds in local currency and not in hard currency, so the central bank is preparing to launch bonds in local currency for sale in order to strengthen the local currency."

The source, who asked not to be named, said "bonds that will be put forward will be available to all citizens and the various classes in order to take advantage of it will be local and national," noting that "the mechanism of sale will be announced in the near future."

The source continued that "there is a surplus in foreign currency in the country and, therefore, he went to the Central Bank to sell bonds in the national local currency away from the dollar selling."

The Central Bank of Iraq announced earlier, to take the necessary measures to support liquidity in the banking system, and decided to facilitate the procedures for the sale of foreign currency "to sustain the exchange rate."

The Central Bank of Iraq, said in (the 18th of January 2015), that the financial reserves of Iraq is equivalent to one and half times the weakness of the currency bloc, returned as "best rates" in the countries of the world, and as he emphasized that Iraqi financial institutions are "unable" to cover the fiscal deficit, he stressed the need to reconsider the structure of the budget and spending and to diversify sources of income and achieve the investment more broadly to address the decline in oil prices.

 

 

 

 

[Jaygo]

This all sounds good.

[gregp]

Amazing article! I pray this comes true. Thanks.

[blueskyline]

Thanks Yota ..... Good Article !

[Laid Back]

Increase the exchange rate first to strengthen the local currency.!

Go CBI

Go increase exchange rate

Go bonds

[TrinityeXchange]

the news gets better and better.  encouraging the citizenry to loan money to the government.

[Wiljor]

TrinityeXchange if you're liking it, so am I.

Thanks Yota much appreciated

[Big_J]

CHANGE IS HERE MY FRIENDS. SHOW US YOUR HAND IRAQ!

[SnowGlobe7]

I just worry about Iraq using the word LAUNCH

[ronscarpa]

Thanks Yota...(+1) 

[Wiljor]

I just worry about Iraq using the word LAUNCH

Not so much Iraq but its neighbor Iran Snow

[SnowGlobe7]

true dat!!

[SocalDinar]

the news gets better and better.  encouraging the citizenry to loan money to the government.

And we are the Non citizens that loaned money to Iraq.  LOL

 

Do you think this new bond debt will help Iraq Trinity. I would say yes if they use the money for infrastructire and not to pay government salaries.

[Boozer]

They say the oil price is to low to move forward, what was the excuse when it was at $90.  China,IMF,OCT.?

[sandfly]

THANKS

[TrinityeXchange]

Do you think this new bond debt will help Iraq Trinity. I would say yes if they use the money for infrastructire and not to pay government salaries.

i hear you socal.  it is definitely a new day in iraq.  i am particular encouraged by this article highlighting abadi's plan to pay overseers from outside the country (ernest & young) to account for every dime being spent on the reformation project.  this guy means business!  pray for his well being.  

Edited August 27, 2015 by TrinityeXchange

[yota691]

And we are the Non citizens that loaned money to Iraq.  LOL

 

Do you think this new bond debt will help Iraq Trinity. I would say yes if they use the money for infrastructure and not to pay government salaries.

To may article stating that CBI Bonds are for Abadi: 5 trillion dinars allocated for the revitalization of agriculture, industry and the housing sector    not one word about paying salaries

[10 YEARS LATER]

[SocalDinar]

Hopefully they stand by that Yota

Here in Kaliforniastan they take our money in the form of fees and taxes for one thing but it always ends up in the general fund.

[yota691]

 

 

Central poses bonds in local currency for sale

 

27-08-2015 03:30 PM 
Number of Views: 10

 

 

 

 

 

Iraq today

An informed source at the Central Bank of Iraq on Sunday revealed last willing to put up bonds in local currency for sale 
where the source said 'Iraq needs funds in local currency and not in hard currency, so the central bank is preparing to launch bonds in local currency for sale in order to strengthen the local currency. 
"The source added that 'bonds, which will be put up will be available to all citizens and the various classes in order to take advantage of it will be local and national' noting that 'selling mechanism will be announced in the near future. "The source continued that' there is a surplus in foreign currency in the country and therefore the central bank to turn to sells bonds in the national local currency away from the dollar sold '.

[yota691]

Central poses bonds in local currency for sale

 

      Thursday   27   August   2015 | 15:44

 

 

 

 

Bonds that will be put forward will be available to all citizens

                     

 

 

An informed source in the Iraqi Central Bank revealed last willing to put up bonds in local currency for sale.

Where the source explained that "Iraq needs funds in local currency and not in hard currency, so the central bank is preparing to launch bonds in local currency for sale in order to strengthen the local currency.

The source added that the bonds that will be put forward will be available to all citizens and the various classes in order to take advantage of it will be local and national sales, noting that a mechanism will be announced in the near future.

The source continued that there is a surplus in foreign currency in the country and, therefore, he went to the Central Bank to sell bonds in the national local currency away from the dollar sold.

[SnowGlobe7]

what is the incentive for poor people of Iraq buy bonds?

[SocalDinar]

To may article stating that CBI Bonds are for Abadi: 5 trillion dinars allocated for the revitalization of agriculture, industry and the housing sector    not one word about paying salaries

seen plenty that says it is to help cover the budget deficit . I don't trust our politicians, so I certainly don't trust Iraqs. Do you?

[SnowGlobe7]

No i do not, and why should the Iraqi people..that is what I was trying to say above...why and what incentive do the Iraqi people have to buy these bonds...they already do not trust the bank

[SocalDinar]

I agree Snow globe

Warka already offers a pretty good return on their certificates of deposit when using IQD but like you said they do not trust the banks