Economic Adviser to Abadi: Iraq will defer $ 2 billion international bond until 2017
Tarikh التحریر:: 2016/9/30 8:18 89

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{Baghdad: Euphrates News} said the appearance of Mohamed Saleh, the Prime Minister's economic adviser Haider Abadi, "likely to postpone Iraq sell $ 2 billion in bonds in international markets until early 2017.
Saleh, in an interview, seen by agency {Euphrates news}, "I think we we will delay him {version}", adding "we should see the situation in the oil market-if we improve a little and postponed the oil market witnessed further deterioration, we're going to have to borrow.
He said that "the economic situation is expected to improve for Iraq after that process and thus reduce military spending allocations or direct them to rebuild war-torn areas.
And, "we will turn from war to peace," budget, budget, mthkna that this will improve Iraq's credit rating to B + at least over the next six months of B-currently strongly reduce the cost of borrowing.
The Prime Minister noted that "military spending in the budget for 2017 will remain at the same level as this year, but may be classified during the financial year according to changing needs.

He noted that "Iraq agree {tentatively} last month on loan for three years worth of three billion dollars from the World Bank to support the budget, this will be the first loan batch of additional funding for the agreement with the IMF."
He added that details the conditions supporting the general financial institutions and pensions in Iraq remained unclear but the first tranche disbursed in December.
He continued, "the duration of the loan is 16 years with three-year grace period and interest towards two percent."
OPEC reached at its meeting Wednesday in Algeria to agree to freeze oil production, which reflected positively on prices.
Iraq has sought in the past to bring the views between Iran and Saudi Arabia, to support prices.
It is said that the Finance Minister, Hoshyar Zebari, announced on the 3rd of June last, that Iraq expects to sell international bonds worth two billion dollars in the last quarter of this year when it starts the flow of international aid, will help to reduce the cost of borrowing.
Iraq seeks to obtain international support after shrinking revenues caused by the collapse of oil prices two years ago where the Government relies on oil in 95 percent of their income.
The last time sells in Iraq international debt instruments in 2006 when he issued bonds by about $ 2.7 billion for the year 2028 5.8 percent interest.
Moody's and Fitch agencies said to credit rating, last may, that Iraq's agreement with the International Monetary Fund has also given positive credit terms Fitch rating of B-long Iraqi credit. article.php%3Fstoryid%3D128511