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Central Bank propose financing budgetary deficit through sale of bonds

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Central Bank propose financing budgetary deficit through sale of bonds

Post  Shilo on Thu Dec 02, 2010 8:46 am

Central Bank propose financing budgetary deficit through sale of bonds

December 2nd 2010



Baghdad, Dec. 2 (AKnews) - The Chancellor of the Central Bank of Iraq (CBI) said today that the Iraqi government can finance its $12bn budgetary deficit through regional and international loans.

Muzher Mouhammed Saleh told AKnews that the CBI will sell bonds through continued biddings over the next two weeks.

Mr. Saleh went on to say that the financed the 2010 budgetary deficit through an International Monetary Fund (IMF) loan.

The Iraqi administration approved yesterday the country’s budget for 2011 with revenues estimated at $66.7bn, and expenditures amounting to $78.7bn, leaving a deficit of $12bn.



http://www.aknews.com/en/aknews/2/199256
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