Iraq borrow $ 6 billion to pay salaries and projects 9/10/2015
Iraq borrow $ 6 billion to pay salaries and projects
9/10/2015 0 Comments
Total public debt rose to $ 39.5 billion at the end of June, compared to $ 33.3 billion at the end of last year, according to the prospectus Prospectus seen by Reuters that Iraq will use the proceeds of the issuance of international bonds to finance the salaries and infrastructure projects in the oil and gas, electricity and transport sectors showed. Seeks Baghdad to raise up to $ 6 billion through a series of versions of the US dollar bonds is expected that the first version about to be one-third of this amount. The representatives of the government will begin on Thursday a week-long promotional tour in Europe and the United States for marketing versions.
manages the bank Citigroup, Deutsche Bank, JP Morgan International Version, which is the first of Iraq nine years ago. Iraq is seeking the second-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC) to finance a budget deficit caused by falling oil prices and the war against Sunni Islamist al Daash who occupy vast areas in the north and west of the country. it showed the prospectus that economic activity in Iraq shrank 6.7 percent in the first quarter of the year, compared with the same period of last year. And excludes most of the economic activity in the areas controlled by the organization Daash figure. Total public debt rose to $ 39.5 billion at the end of June, compared to $ 33.3 billion at the end of last year, according to the prospectus. She newsletter that foreign exchange reserves fell to $ 61.2 billion in July July compared to $ 66.3 billion at the end of last year.