Iraq's international bonds rise after the approval of IMF loan 7-8
Iraq's international bonds rise after the approval of IMF loan
Friday, July 8, 2016
Iraqi and international bonds, which created increased until 2028, amounting to $ 2.7 billion, at a time when the average premium required fell for the possession of Iraqi debt instruments compared to US Treasuries to the lowest level in a week after the IMF approved a loan worth $ 5.3 billion to Baghdad.
And the IMF agreed on the order under the request of Iraq, for which a three-year, $ 5.34 billion in order to support Baghdad's efforts in the face of low oil prices and to ensure continuity in the debt service.
The IMF said in a statement that approval will allow the immediate disbursement of about $ 634 million.
The bond was trading up 0.4 cents at 77.4 cents to the dollar, including away from the highest level in 11 months, recorded by Iraqi bonds before the announcement of the agreement with the IMF Tombstone according to Reuters data.