Finance issued government bonds secured one billion dollars

Business & Finance

Economy News / Baghdad ...

The Ministry of Finance, Sunday, for the issuance of secured government bonds billion dollars, noting that the duration of the bond will be 5 years at an interest rate of 2.1% per annum.

The ministry said in a statement that "the economy News" received a copy of it, "it issued a foreign government bonds guaranteed by the US government of one billion dollars," noting that it "has made great efforts during the month of December last and the beginning of this month to issue these bonds through meet All requirements of the crisis for the completion of this process, which had been successful in the end. "

The ministry added that "the duration of the bond will be five years and an interest rate of 2.1% per annum," indicating that "this money will be used to finance the budget deficit, based on the General Budget Act, which authorized the Minister of Finance to issue those bonds."

The ministry confirmed that "foreign banks praised the interest rate achieved by the Ministry of Finance for these bonds compared to similar cases to other countries, the issue is guaranteed by the United States government bonds."

Iraq has signed, on the fifth of December, the current with America's sovereign loan guarantee one billion dollars for compliance with the fundamental obligations to the Iraqi people.

mm

Source