Parliament proposes borrowing money from CBI reserves to afford the cost of infrastructure projects

Posted by on Oct 28, 2013 | Leave a Comment

10-10-2013 07:07 AM

Baghdad (newsletter). Member of the Finance Committee suggested that a Deputy from the Kurdistan blocs Coalition//Jimmy, using cash reserves at the Central Bank instead of resorting to the payment term for companies in the implementation of the projects included in the infrastructure.

He is capable of (News Agency): the Central Bank announce from time to time about increasing the cash reserve of hard currency, while not invest even a fraction of these abundant funds in projects that serve the country.

He noted: the infrastructure which objected to some blocks, refer the project to the world the payment term and those using country funds and stthkolh debt for many years and is worth doing.

He added: he can dispense with the payment term and avoid future problems through the country to the Iraqi Central Bank and borrow money for infrastructure projects in the country, and is shot in the coming years.

The Governor of the Central Bank said Abdel Basset Turki increase hard currency reserves to more than 76 billion dollars from 74 billion dollars in the month of May

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