Parliament proposes to borrow money from the Central Bank rather than resort to payment on credit

Parliament proposes to borrow money from the Central Bank rather than resort to payment on credit





Baghdad (news) .. I suggest a member of the Finance Committee MP / coalition of Kurdish blocs / Adler unabel, using existing cash reserves with the central bank rather than resort to the method of payment on credit to companies in the implementation of projects included in the law of infrastructure.

unabel (of the Agency news): that the administrators of the central bank announce from time to time and an increase in monetary reserves of hard currency, while not invest even a fraction of this money abundant in projects that serve the country.


He pointed out: that the law of the infrastructure, which objected to it some of the blocks, including the assignment of projects to international companies on credit and payment method this country big money and debt for many years and the increase in value due to profits.

He added: it can dispense method of payment on credit and avoid future problems of the country by resorting to the Iraqi central bank and borrow money from him to the implementation of infrastructure projects in the country, and be paid in the coming years.

This was announced and Central Bank Governor Abdul Basit Turki agency for increasing cash reserves of hard currency to more than 76 billion dollars after it was (74) billion dollars in the last month of May.
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http://www.ikhnews.com/index.php?page=article&id=104065

Just NOT going to happen.   They have tried this before.

Agreed