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March 16, 2010Finance and central bank expect to increase the activity of T-bills in 2010
Predicted the Ministry of Finance and the Central Bank that Iraq will see an increase in the area of treasury bonds in 2010 to help bridge the persistent deficit in the budget.
The Finance Ministry said in a speech to the International Monetary Fund, it aims to develop the foreign exchange markets outside of the usual dollar auctions held by the Central Bank of way, including the interbank market and futures market in dinars.
The ministry said in the letter submitted to arrange a standby loan of $ 3.6 billion dated the eighth of February that the country had just emerged from years of sectarian fighting and he would not return to a surplus in the budget before 2012.
For his part, said Finance Minister Bayan Jabor said that to this end, the ministry will refrain from periodic auctions it off while that would allow the market is set for the interest rates will also allow the development of a secondary market for treasury bills to banks to improve its management of liquidity.
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Iraq Expects to Step up T-bill Activity in 2010
