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Iraq intends to issue international bonds two billion dollars next year

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Rocky


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Iraq intends to issue international bonds two billion dollars next year




Wednesday November 18 2015 18:27



Alsumaria News / Baghdad
Governor of the Central Bank announced on the Keywords, on Wednesday, Iraq's intention to international bond issue two billion dollars in 2016 to guarantee from the World Bank for up to half that amount.

Keywords and said in comments carried by "Reuters" remarks seen by Alsumaria News, "the value will amount to two billion dollars but the (World Bank) will ensure, say 40 or 50 percent .. will open that market more - make it wider - to attract more investors," he said, adding that the government put bonds in their accounts for the next year's budget deficit to finance the estimated $ 21 billion in size budget of about $ 95 billion.




Keywords predicted to be the new bond yields "a lot less" than 11.5 percent of the revenue that investors request during a promotional tour in Europe and the United States.

Iraq and appointed three major international banks to arrange the release are Citigroup, Deutsche Bank, JP Morgan Chase, but many institutional investors were reluctant because of the risks.

The Iraq last week agreed on a program of the International Monetary Fund, which monitors the economic policies of Baghdad in preparation for a possible financing program in 2016.



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