Iraq revives bond plan to raise two billion dollars

2016-02-22 23:15:01 | (Voice of Iraq) - Baghdad

Detection and Finance Minister, Hoshyar Zebari, on Monday, that Iraq sought to raise two billion dollars from the sale of treasury bonds globally, likely request the assistance of the International Monetary Fund to cope with the financial crisis afflicting.

Zebari said in a telephone interview with the American site Bloomberg Bloomberg economic news, that "Iraq may resort to the global bond markets during the second half of the year the current 2016 to raise about two billion dollars," noting that "the bond offering to bid now exist on the agenda, especially that Iraq is in a better position this year than the previous one, for the issuance of those bonds, where she was then very high interest rates. "

The site said that "the bond sale plan has stalled the year past 2015, because investors demanded concessions and benefits deemed too expensive government," noting that "Iraq agreed to the financial surveillance program to the International Monetary Fund, which would pave the way for other aid from the Fund."

The minister added that "officials will hold further talks with the International Monetary Fund, and that Iraq may consider the possibility of demanding more aid," he returned to the "too early to determine the potential size of the loan."

The Governor of the Central Bank and the Agency, on the Keywords, announced in (the 15th of February, the current 2016), the intention of the bank to sell bonds to the public worth seven trillion dinars during the current year.

The Finance Minister, Hoshyar Zebari, said in (the third of March 2015 the past), that Iraq is considering several options to overcome the fiscal deficit, which is currently suffering from it, including borrowing from government banks issuance and the issuance of six billion dollars worth of loans, bonds, in agreement with international banks, and in the while Baghdad and Erbil renewed commitment to the agreement they reached to export oil, expected to be the next round of talks between the two "difficult because of the crisis of confidence between them," and other factors.