CBI issued plan for Auction of Treasury Funds for Next 364 Days

The Iraqi Central Bank has issued its regulations and planning for the next public auction starting from June 2017 regarding the sale of treasury transfers for next 364 days beginning from 1st June 2017. The CBI also revealed the domestic borrowing plan of the Iraqi Finance Ministry for the current year. The Iraqi Central Bank has been considered a financial agent of the finance ministry and manages auctions transfers based on the law of public debt. It authorized the Iraqi Finance Ministry to issue treasury funds guaranteed by the Iraqi government for the aspirations of government funding in order to cover a part of deficit for a short-term in the Iraqi federal budget. The source said in a press interview that the values of Asdarih regarding these funds were estimated at 200 billion Iraqi dinars. Source also indicated that this auction would be the 5th of its kind according to the plan of Iraqi Finance Ministry to issue treasury bonds for the current year.

CBI issued plan for Auction of Treasury Funds for Next 364 DaysIt has been considered that entire sale amount of Asdarih to the recipient parties will actively participate in the auction and retirement care circles as well as minor benefits to a number of other banks. In the similar background, the Iraqi Central Bank has announced the auction results of treasury transfers for last 364 days till last Wednesday and it was amounted at 200 billion Iraqi dinars. The statement further indicated that the auction resulted in the sale of entire amount of Asdarih and the top price cut competitive auctions by 4 percent with the average of 4% to 6 participants didn’t mentioned that they have won 4 of them. The Iraqi Finance Ministry has planned to issue treasury transfers of internal borrowing for the year 2017 including the management of 11 public auctions. Two of them with the amount of 100 billion Iraqi dinars and the remaining amount will be used to cover the temporary deficit in the Iraqi federal budget.

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