The central bank announced on Tuesday the sale of 802 billion dinars of national bonds launched in early April, indicating that the bonds are paid in annual coupons for two years.
The bank said in a statement received “the sale of the amount of 802 billion and 150 million dinars of national bonds that were launched on behalf of the Ministry of Finance at nominal value beginning of April,” noting that “the remaining of the issuances is 197 billion and 850 Million dinars the end of the sale period will be until the second of May.”
“The issued bonds have five categories, including 100,000, 250,000, 500,000, 1,000,000, 5,000,000 dinars and one trillion dinars at an interest rate of 8%,” the bank said. “The bonds are paid in annual coupons for two years and are payable from Before the Ministry of Finance on the second of April 2019. ”
On April 2, 2017, the Central Bank issued national bonds on behalf of the Ministry of Finance in the amount of one trillion dinars in order to finance the deficit in Iraq’s general budget due to the drop in oil prices globally.