Central Bank Governor: We aspire to sell two billion dollars of bonds in next 3 mths
Central Bank Governor: We aspire to sell two billion dollars of bonds in the next three months
4/20/2016 0 Comments
Governor of the Central Bank on the Keywords revealed that Iraq would go ahead with a plan to sell two billion dollars of bonds in the next three months, hoping to reduce the cost of international aid lending derailed.
The Reuters news agency in an interview with the governor of the central bank on Tuesday and followed up by the "Economy News," we would like to see revenue decline to five percent instead of the 11 percent demanded by investors originally and that the process of selling bonds can be managed from banks such as Standard Chardr and Deutsche Bank City.
Iraq has canceled denominated bond sale in US dollars in October 2015, instead of paying the yield of 11 percent was the recovery of those plans again in January of 2015 and gains against Daash gangs terrorist should ease the support of the World Bank and the IMF costs .
Keywords and added that Iraq hoped to get between 15 to 16 billion of loans during the next two years from the International Monetary Fund and the World Bank and members of the Group of Seven major industrialized nations".
He added that about seven billion dollars will have to come in the period between June and September next and possibly Iraq gets from the United States and the World Bank to borrow guarantees to cover the bond sale process.
He said Iraq plans to implement measures to reduce spending and increase revenue by raising the price of electricity and income tax to facilitate access to the World Bank loan of $ 6 billion by next June"
He stressed Keywords we have to work on some of the paragraphs, including the approval of the Cabinet as soon as possible the month of June before, "adding that he hopes to also get a loan of $ 4 billion from the World Bank and between 3 to 5 billion dollars during the meeting of the seven major industrialized nations to be held in Japan next month.
It is noteworthy that Iraq is suffering from a financial crisis due to falling oil prices and the war on Daash while 95 percent dependent on oil from the budget of the country's imports.
Last updated 20/04/2016 - 14:15