29 Mar 2024
Wednesday 23 January 2019 - 16:29
Story Code : 335795

Majlis Commission caps Gov't bond issuance

Majlis Commission caps Gov
Financial Tribune - Spokesman of the Majlis Joint Commission said Tuesday that the government has been allowed to issue Islamic bonds up to 290 trillion rials ($2.5 billion) in rials and foreign exchange for the next fiscal (March 2019-20).

According to the Islamic Consultative Assembly News Agency, Mehdi Mofatteh said earnings from bonds are to be allocated for completing unfinished national and provincial development projects as well as help complete projects in universities.

The total value of issued bonds plus pending (unsettled) bonds shouldnt exceed 290 trillion rials. This is the ceiling for government debt, he was quoted as saying by ICANA.
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