Researcher: investment companies were invoked against his presence
BAGHDAD Mustafa al-Hashimi
Is Iraq for the sovereign rating officially the first steps in the way of attracting foreign investment to enhance the infrastructure and the promotion of economic reality, as the investment companies were ndash; according to Mtabaan- taken from Iraq's failure to get the sovereign rating as a pretext prevent or hampered from investing in spite of the facilities created by the investment 13 Act of 2006.
Known credit rating GCR an acronym for (global credit rating) as a measure to assess the possibility of the borrower to meet its obligations in the face of lenders, or in other words, the risk of non-payment of lender (source Sindh) to fulfill its obligations (loan value and benefits) of the borrower (bond holder). And is rated the world's credit ladder classification consists of four grades are A, B, C and D as well as variables that represent signal the + or - different Petkrarat.
The Fitch International Foundation has awarded Iraq a few weeks before the first credit rating has sovereign versions of which is sought by Country Before his intention to issue international bonds worth five billion dollars, aims to ease the pressure drop in oil prices on the budget public.
In this context, he said economic researcher Maha Ihsan thanked the positive impact that will impact on the economy after obtaining the credit rating degree B- from the international rating agency Fitch through Auxiliary and reconstruction in Iraq by increasing presence of foreign investment companies which attracted the presence of classification, even if weak degree.
The researcher noted in an interview for »Sabah» that Iraq is suffering now terror gangs (Daash) significant decline in oil prices, which has seriously damaged in the budget of the country as well as investment projects in a number of provinces and that was reliable so much in promoting economic development has stopped.
Economists believe that Iraq is for the sovereign rating and the low is better than not having any degree of classification because the lack of a degree classification means that the country is one of the areas no investment even if high-risk.
chose B_ Fitch rating with a stable outlook for Iraq which is less than six degrees from investment grade (AAA or A +++) attributed it to political risk and weak security She was of the most serious risks faced by any sovereign entity has assigned A- from Fitch.
And returned researcher of thanks to say that one of the main obstacles that were facing investment companies may still leaving only the security situation improves, especially that there are sweeping reforms put forward by the government to fight corruption campaign, to go away all the excuses invoked by those companies, including the subject of credit rating. Was of the view that the economic potential of the Iraq, including that the owner of the fifth-largest oil reserves in the world what it takes to become an investment countries attractive to a large number of investors.
She drew thanks to this class low in the classification can be modified in the near future if the government urged paced quickly in the way of reforms and resolving the energy problem, which is an important factor in raising the level of GDP and activate the various productive sectors.
seeks most governments and countries, companies or financial entities to obtain credit rating so as to allow her to get the funding they want through local markets or external reason to urge the pace for the highest degree of classification between the countries of the world to improve the economic reputation and the development of the joints of the various productive sectors, to assure the countries wishing to invest the economic structure intact and its environment are valid, as well as the credit rating reduces the cost of borrowing when the state needed to decode the financial debt Achtnaqatha
The economic expert, Dr. appearance of Mohammed Saleh had earlier predicted to be classified Iraq credit probably at a B returned him a good indication of the reason for optimism, pointing out (morning) at the time that: this order in Classification defined by the intensity of the Iraqi appetite for bonds sold in international markets, amounting to $ 2.7 billion annual interest rate steady at 5.8 percent Stressing that the presence of a credit rating, though low, is better than no rating basically.