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Iraq issues bonds to pay IOCs
Wednesday, March 11th, 2015
The Iraqi government has approved $12 billion worth of treasury bonds to pay foreign oil companies.The bonds will help Iraq plug a revenue gap created by years of budgetary mismanagement, rising military spending demands, and a decrease in the price of oil.Iraq's potential inability to pay its oil contractors has raised fears that companies would be forced to scale back operations at a time when the country needs as much production and revenue as possible."The issuance of these bond...
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Wednesday, March 11th, 2015
The Iraqi government has approved $12 billion worth of treasury bonds to pay foreign oil companies.The bonds will help Iraq plug a revenue gap created by years of budgetary mismanagement, rising military spending demands, and a decrease in the price of oil.Iraq's potential inability to pay its oil contractors has raised fears that companies would be forced to scale back operations at a time when the country needs as much production and revenue as possible."The issuance of these bond...
This content is for registered users. Please login to continue.
If you are not a registered user, you may purchase a subscription or sign up for a free trial.
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