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Governor of the Central»: 50% of the value of bonds guaranteed by the World Bank

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Governor of the Central»: 50% of the value of bonds guaranteed by the World Bank

November 21st, 2015

Abadi Keywords discuss the negotiations with the delegation of «Fund»

Baghdad's new morning:

Governor of the Central Bank of Iraq on the Keywords revealed the government's intention to issue international bonds two billion dollars in 2016 to guarantee from the World Bank up to half that amount.

He predicted relationships, in an interview with Reuters, that the return on these new bonds is much lower than of 11.5 percent revenue Investors request during a promotional tour in Europe and the United States in September.

He said that the value of the bonds will amount to two billion dollars, but the World Bank will ensure that between 40 or 50 percent.

He Keywords that Baghdad and placed the bonds in their accounts for the next year's budget in order to finance a deficit estimated at $ 21 billion in size of the budget up to $ 95 billion.

It is noteworthy that the Ministry of Finance announced that, earlier, that Iraq stopped his plans for the issuance of international bonds, attributed the reason for this is that the revenue that will pay will be very high.

Fadel said the Prophet and Deputy Minister of Finance The recent «ordered a halt to bond because the interest rate will be high ».

He was Iraq, which is fighting a guerrilla Daash terrorist and suffers from shrinking oil revenues because of low crude prices hold meetings throughout the week with investors in Europe and the United States last month in an effort to promote a version planned.

It was aspires to raise about two billion dollars of issuance Preliminary denominated in the US currency in the context of a series of versions were will reach six billion dollars.

But informed sources said that investors demanded extremely yields rise, which was carry Iraq heavy financial burdens.

In the same regard, Search Prime Minister Haider al-Abadi with the Governor of the Central Bank on the Keywords negotiations that took place with the delegation of the International Monetary Fund in Amman last week.

According to a statement of the Office Abadi During the meeting, they discussed the financial budget for 2016 and the actions taken to stop the corruption and the mafias benefiting from the central bank auction of the coin and the importance of holding accountable those involved in it.

They also discussed the currency protection mechanisms, in addition to the mechanisms to support the country's economy and raising its standards.

The prime minister Haider al-Abadi stressed that «the government is seeking to establish a strong economy without dependence on oil as the basis for the financing of the budget».

Ebadi said in a speech during the celebration of the Martyrs Foundation to honor a group of elites and competencies of the families of the martyrs in Baghdad , said that «Iraq will emerge from the financial crisis is strong, and that the government began going on the right track with regard to fiscal policies».

In another matter, the Iraqi Central Bank announced that its sales for banks amounted to more than $ 39 billion up to the nineteenth of this November.

He said the bank said in a press statement, that «the sales of the dollar banks reached since the beginning of this year until the day before yesterday amounted to 39 billion and 290 390 000 and $ 513».

The bank added that «this amount decreased from what it was on the same date of last year 2014, which where sales were 46 billion 235.085 million dollars ».

He noted the bank that« the sale amounts transferred to the accounts of banks abroad the price is 1187 dinars per dollar, including the commission of the Central Bank of $ 21 dinars per dollar, while cash sales price of 1190 dinars per dollars Dmtha commission of the Central Bank of $ 24 dinars per dollar. »

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