Iraq debt issue bonds worth $ 5 million

الأربعاء 19 أغسطس 2015 | 08:04 مساء

BAGHDAD / .. preparing Iraq, during the coming period and before the beginning of next year to issue bonds and sell them worth $ 5 million, within the framework of that taken by the central government in Iraq to address the economic difficulties experienced by the shortfall in the budget year 2015, in light of expectations that constantly difficulties over the next year.

The Web site reported, "Bloomberg" economic in a report published and translated "appointed Iraq News", said the austerity suffered by Iraq's current budget will increase in the next year and the effects of the biggest unless appropriate measures are taken to ensure the provision of financial liquidity sufficient to stabilize the projected budget, which comes bond issuance procedures within frameworks as one of the solutions for the provision of such liquidity.

Recalls that the economic difficulties experienced by Iraq may now came on the back of lower selling global crude oil prices which caused disruption of the budget in general terms is sold barrel of Brent crude heavy now price "48.70" dollars while Iraq needs to sell the barrel price "100.60" dollars to achieve the financial stability of the forthcoming budget for next year, according to the newspaper "Allowal Street Journal."

This comes at a time when Iraq boosted its oil exports significantly as stated by the International Energy Agency, which announced and Saudi Arabia, as the largest shareholder of global quotas oil exported by OPEC, which amounted to "31.8" million barrels a day to world markets is the biggest in three years, At a time when price volatility is increasing due to the rise in supply relative to the demand as Web site reported, "Business Insider" economic.

It should be noted that the concept of economic bonds means providing an official document to the public and investors in the market for a certain price by a set amount would be resubmitted to the bearer profit after a certain period, similar to borrowing.

It is worth mentioning, all of the Bank "JP Morgan, Citi Krupp, and the Bank of Holland" has refused to comment on the Modua.anthy / 5