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The Minister of Finance and the Governor of the Central Bank discuss the situation of cash in banks and agencies DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

The Minister of Finance and the Governor of the Central Bank discuss the situation of cash in banks and agencies

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The Minister of Finance and the Governor of the Central Bank discuss the situation of cash in banks and agencies Empty The Minister of Finance and the Governor of the Central Bank discuss the situation of cash in banks and agencies

Post by RamblerNash on Tue May 05, 2020 9:52 pm

The Minister of Finance and the Governor of the Central Bank discuss the situation of cash in banks and agencies Doc-P-344098-637242198186812574
2020-05-04 | 15:47

On Monday, Deputy Prime Minister for Economic Affairs and Finance Minister Fuad Hussein discussed the liquidity situation in banks and organizations.

Hussein's office said in a statement that Alsumaria News received, a copy of it, that "Deputy Prime Minister for Economic Affairs and Finance Minister Fuad Hussein presided this morning an expanded complementary meeting in the presence of Ali Al-Alaq, Governor of the Central Bank and Undersecretary of the Ministry of Planning and directors of Al-Rafidain and Rashid banks and the Iraqi Trade Bank. The meeting was also attended by general managers of departments Budget, taxes, customs, retirement and public debt in order to complete government efforts in examining mechanisms to improve the economic and financial situation in order to secure the needs of the country, especially in advance of the May allocations in light of the continuing decline in oil prices. "

He added, "The current cash deposit deposited by the government has been studied in banks and organizations that generate annual profits and how to restructure these funds and use them to bridge the current shortfall to secure the salaries of Iraqi state employees," noting that "the meeting discussed the government's obligations to pay internal and external debts In addition to the need to finance some government institutions, given the privacy of their work. "
 
In another axis of the meeting, they discussed how to provide legal cover or urgent legislative decision to secure the cash liquidity required for the future, whether by borrowing internally or externally to fill the shortfall in the financing process.
 
Hussein and Al-Mohafiz emphasized that "all obstacles must be overcome and speedy framing of immediate solutions to remedy the financial situation in the country."
 
As the meeting reached the possibility of walking and advancing through internal solutions at the present time, provided that the government will consider other options in the coming months.

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