Iraq revives plan to sell bonds two billion dollars 12/28
Iraq revives plan to sell bonds two billion dollars
Monday, 28th December 0.2015
BAGHDAD (Reuters) - Finance Minister Hoshiyar Zebari told Reuters today that Iraq has revived a plan to sell bonds two billion dollars in 2016 at a time when the government is working on the face of the threat posed by the organization of the Islamic state.
He added that the 2016 draft budget provides for the government to sell bonds two billion dollars if lacked the sources of funding for the targeted spending.
And was suspended the bond sale plan - the first of its kind offered by the Iraqi government in the international market in about ten years - in October as investors demanded a yield of 11 percent Zebari said he is very high.
Zebari added that The government hopes to conclude a better deal if you decide to resort to the bond market in 2016 with the achievement of the armed forces victories continuously on the militants of the Islamic state and to support the World Bank and the International Monetary Fund of the Centre for government financial support.
"It will facilitate the international institutions' confidence in the country's process of issuing sovereign bonds." I think that the liberalization of gray We will strengthen our position, "referring to the recovery of the army of the city, located in the west of Iraq of militants of the Islamic state on Sunday.
And sold Iraq in 2006 bonds worth $ 2.7 billion worth in 2028. He received Iraq on the classification -B of agency Fitch Ratings in August.
And landed oil prices to less than half in the last eighteen months, which is what the government trimmed crude sales, which make up 95 percent of it in income.
This worked so well for them last year. This is complete smoke. IMO - LOOP