HOT!!! CBI lends Iraq the IQD to Pass the Budget

HAPPY TUESDAY DINARIAN FRIENDS!

READ THE LAST PARAGRAPH —-

Central Bank announces funding the state budget six trillion dinars and five others to support the commercial banks

According to a statement of the bank and agency {Euphrates News} received a copy of it today, that “in line with the central bank tasks and responsibility in supporting the development and stimulate the Iraqi economy and in light of the financial challenges faced by the country and approved by the Board of the Central Bank, among other proposals made by the bank’s board, is the most important specialized support liquidity of commercial banks in the amount of five trillion dinars; to enable them to provide loans to industrial and agricultural and providing housing and real estate loans in support of economic activity and job creation. ”
“The Council also decided to finance the state budget with a loan amount of six trillion dinars run through 50% of the commercial banks’ reserves deposited with the Central Bank of Iraq.”
The statement said that “the Board decided to buy back treasury bonds from the secondary market, where the central bank will buy about five trillion dinars in the first phase of that bond, note that the above procedures for upholding the Central Bank’s reserves.”
Iraq has been going through a financial crisis due to lower global oil prices, which have negatively impacted on the state budget and a deficit in it. ”

— LAST PARAGRAPH —
With Congress likely to be next Thursday as the date to vote on the 2015 budget that after a round of discussions and actions to reduce the deficit .

LINK: http://translate.googleusercontent.com/translate_c?depth=2&nv=1&rurl=translate.google.com&sl=auto&tl=en&u=http://wwww.alforatnews.com/modules/news/article.php%3Fstoryid%3D75353&usg=ALkJrhhFkPTNNk0-o6YvgdxHVSHa_VuDMA

SO MY TAKE IS THAT THE CBI WILL LEND THE MONEY ONLY IF THE BUDGET IS PASSED THURSDAY!!!!

I FRIGGIN HOPE SO!!!
~ Mr. IQD

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