On Sunday, the Iraqi Central Bank issued a press statement regarding the issuance of Iraqi bonds. The Iraqi Financial Crisis Cell has approved the issuance of Iraqi bonds in order to pay contractors and suppliers according to their agreement with the state.
Iraqi Central Bank further added in the press statement that the Head of Financial Crisis Cell Haider Al-Abadi has approved the proposal of Iraqi Central Bank regarding the issuance of Iraqi governmental bonds for the reimbursement of suppliers and contractors of Iraqi institutions. The statement further indicated that these bonds would provide a handsome support in providing loans and it would be considered an agreement of loan with its entire value.
This statement confirmed that it would participate to eliminate the financial problems in the Iraqi financial institutions. It would also provide a productive economic activity in order to boost-up the working environment in all the sectors. It is said that the Economic Committee of the Iraqi Council of Ministers has decided in forming a special committee to estimate the dues for completed projects. He also guaranteed that Iraqi government would resolve the problems of businesses and contractors, due to late payments of their dues. It is important that a large number of Iraqi financial institutions suffered heavy financial problems due to the downfall in the revenues of Iraqi state after a continuous decline in the global oil prices.