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Central Bank supports the banks five trillion dinars, balancing six
Iraqi Central Bank decided Tuesday to support commercial banks to five trillion dinars and finance the budget six trillion dinars.
The bank said in a statement received by ((eighth day)) "in line with the central bank's tasks and responsibilities in supporting the development and stimulate the Iraqi economy, the Department of the Central Bank Council approved the inter proposals made by the Bank's management, including the liquidity support specialized commercial banks in the amount of five trillion dinars to enable from providing loans to industrial and agricultural and providing housing and real estate loans in support of economic activity and job creation. "
The bank said it was "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."
The prime minister for economic affairs adviser to the appearance of Mohammed Saleh, in (December 25, 2014) that the Bank of Aakarz government in the event of low public budget for Iraq, indicating the direction to activate the budgets of development banks and housing funds.
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