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Budget Amendment to Repay Insurers’ Debt

Budget Amendment to Repay Insurers’ Debt  Budget Amendment to Repay Insurers’ Debt

Amendment to the Budget Law of 2016-17 was originally drafted in order to generate cash needed to repay government debt to insurance companies, said the minister of health on Sunday. “The dilemma of insurance company debt is going on for too long and to rectify the situation the government proposed an amendment to the Budget Law to clear it by selling bonds”, Hassan Qazizadeh Hashemi said as reported by banker.ir.”The amendment managed to garner the necessary support in the parliament so that the insurance bonds could be turned into liquidity. This is rather an assurance that the necessary measures are being taken.”

Financialtribune.com