In effort to reduce inflation, CBI intends to issue bonds estimated at 3 billion dinars

Posted: November 16, 2013 in Iraqi Dinar/Politics
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15/11/2013

Intends to CBI, as part of its plans to reduce the level of inflation, to issue a bond loan in Iraqi dinars, and for the first time since 2003.

announced general manager combating money laundering and terrorism financing in the bank Khalid Hameed Cltag, the issuance of these bonds will pull block yet Markets estimated three billion dinars. to that expressed Economists satisfaction with the move, which they described as good, and said it will contribute to reducing inflation, calling for the central bank to the need to educate the citizens of the importance of these bonds and benefits of financial such as launch.

said economist appearance of Mohammed Saleh need to take a lot of measures such as the launch of these bonds, fearing the control of the banks it instead of citizens, stressing the need to adopt modern methods: including the launch of bonds electronic, not paper, as well as making interest rate by a competitor of interest offered by banks on deposits of citizens.

The process of issuing bonds loan is one of the options monetary policy that is used to pull the blocks cash from citizens, including serves to reduce inflation in Iraq. backed the Finance Committee in the House of Representatives this step, stressing that the central bank will be the guarantor of these bonds no fear of buying them. confirmed Committee member Najiba Najib said the move is good, although the actual value of these bonds convergence of three billion dinars, which is a small percentage compared to mass current monetary, calling on citizens to buy them.

This is estimated by economists in Iraq, the size of the money supply compacta among citizens as well as traded on the market at $ three trillion Iraqi dinars matter which some have described as representing a significant financial inflation.

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