Khandan - Finance Minister Hoshyar Zebari, Iraq is seeking sovereign rating continues with credit rating agencies as it prepares to issue huge bonds worth five billion dollars needed to cover the budget deficit caused by low oil prices. He said Zebari told Reuters "We started the process. Banks also seek to help us in this direction. " Iraq has announced that it will issue bonds worth five billion dollars in the first issued in the international bond market nine years ago. and get the sovereign rating of the Agency major credit which lacks him Iraq now may help persuade global funds, international banks managers in underwriting bonds. Zebari said that Iraq is seeking to connect with two or three credit rating agencies, but he did not name. discusses Iraq bond issuance plan with (Citibank) and (Deutsche Bank). The process of getting a credit rating may be sensitive for Iraq as it will be forced to open its books to these institutions and reveals unveil new information on public finances. Zebari did not disclose the date on which it is expected to complete the process. In response to whether the number five billion to be very ambitious, Zebari said, "We have a budget commitment to issue six billion. Thus this is the minimum this is our plan to cover the deficit. But there is no way to be issued in the slice one. "
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