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Economic Analyst: No fear of people monopoly of government bonds and the most important is the extent of the turnout
Fri, March 20 / March 2015
[Baghdad-where]
Emphasized economic analyst absence of fear Menen monopoly persons or banks or certain views of government bonds, which the government intends to launch bridge the fiscal deficit of the state for the current year due to the decline in world oil notice.
The Finance Minister Hoshyar Zebari said Wednesday that Iraq is considering the issuance of international bonds denominated in dollars for five years worth five billion dollars to help it plug in going forward and will soon begin to pay some dues foreign oil companies.
He said economic analyst Raad al-Jubouri told all of Iraq [where] "There is no fear of monopoly businessmen or banks bonds and we pass through the crisis and ask, as they say goods bought by everyone and that the antitrust case or not can not enter in the privacy of this magnitude, but the contrary, we need to buy these bonds by others because he is a sovereign debt substance and there is no problem in buying them by the parties or specific people the price difference in the purchase, sale and will be part of the interest which is like putting money in the bank and take out the benefits. "
He added that "the important issue of the bond is to know the extent of the financial and economic feasibility of them if they did not borrow from international banks or international lenders and how much interest and increase compared to the issue of bonds."
He pointed out that al-Jubouri bonds "have been presented up to 5 years to recover and buy them and if they are taken so serious and important decisions that should be taught in all measurements so you can not call us to bond and one without this procedure."
However, an economic analyst said, "but the Iraqi economy is suffering from a crisis and requires him to be looking for many alternatives to enhance Aiardth solve this crisis, and one of these alternatives bond offering and this in place in all the world economies issue a practice tradition when governments usually pass economic heart attacks trying to pass so measures to strengthen the financial their revenues. "
Jubouri and pointed out that "the launch of a single bond to resolve the financial crisis processors then it could only be solved by borrowing and should be diversified basket of solutions, including the launch of the bond and we believe that borrowing in terms of interest and the repayment be somewhat heavier than the issue of bonds because the bonds less in terms of the age of repayment."
And indicative that the launch of the bond "is to diversify the basket revive the economy and several of these economic trends Valray not fixed but it remains the most important question is the extent of Iqbal citizen or banks to buy these bonds?".
The Finance Minister Hoshyar Zebari between yesterday in a statement "for government bonds will start talks with Citibank and Deutsche Bank tomorrow [today]," referring to the two banks, which Fodthma Baghdad to advise on the deal.
"I think in borrowing through government bond issue worth five billion dollars sold outside Iraq," pointing out that "his ministry issued treasury bills for the year worth four trillion Iraqi dinars [the equivalent of about $ 3.5 billion in the local market on behalf of the Ministry of Oil and perhaps issued additional authorizations of $ 1.5 billion. "
And the Minister of Finance that "Iraq is now owns the necessary funds to pay dues to the international oil companies," he said. "I think we're going to start reimbursing the international oil companies in the first of next April."
Zebari said "we have allocated $ 12 billion in going forward for the oil ministry, but they want more pay dues to the international oil companies in order to stimulate production."
Iraq is witnessing economic distress, in light of the decline in oil prices, which reflected negatively on the federal budget for 2015 and led to the deficit by 25%, as called for economists to the need to stimulate the private sector and activating investment and the adoption of local products to increase imports and reduce Alanfaq.anthy 2
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Fri, March 20 / March 2015
[Baghdad-where]
Emphasized economic analyst absence of fear Menen monopoly persons or banks or certain views of government bonds, which the government intends to launch bridge the fiscal deficit of the state for the current year due to the decline in world oil notice.
The Finance Minister Hoshyar Zebari said Wednesday that Iraq is considering the issuance of international bonds denominated in dollars for five years worth five billion dollars to help it plug in going forward and will soon begin to pay some dues foreign oil companies.
He said economic analyst Raad al-Jubouri told all of Iraq [where] "There is no fear of monopoly businessmen or banks bonds and we pass through the crisis and ask, as they say goods bought by everyone and that the antitrust case or not can not enter in the privacy of this magnitude, but the contrary, we need to buy these bonds by others because he is a sovereign debt substance and there is no problem in buying them by the parties or specific people the price difference in the purchase, sale and will be part of the interest which is like putting money in the bank and take out the benefits. "
He added that "the important issue of the bond is to know the extent of the financial and economic feasibility of them if they did not borrow from international banks or international lenders and how much interest and increase compared to the issue of bonds."
He pointed out that al-Jubouri bonds "have been presented up to 5 years to recover and buy them and if they are taken so serious and important decisions that should be taught in all measurements so you can not call us to bond and one without this procedure."
However, an economic analyst said, "but the Iraqi economy is suffering from a crisis and requires him to be looking for many alternatives to enhance Aiardth solve this crisis, and one of these alternatives bond offering and this in place in all the world economies issue a practice tradition when governments usually pass economic heart attacks trying to pass so measures to strengthen the financial their revenues. "
Jubouri and pointed out that "the launch of a single bond to resolve the financial crisis processors then it could only be solved by borrowing and should be diversified basket of solutions, including the launch of the bond and we believe that borrowing in terms of interest and the repayment be somewhat heavier than the issue of bonds because the bonds less in terms of the age of repayment."
And indicative that the launch of the bond "is to diversify the basket revive the economy and several of these economic trends Valray not fixed but it remains the most important question is the extent of Iqbal citizen or banks to buy these bonds?".
The Finance Minister Hoshyar Zebari between yesterday in a statement "for government bonds will start talks with Citibank and Deutsche Bank tomorrow [today]," referring to the two banks, which Fodthma Baghdad to advise on the deal.
"I think in borrowing through government bond issue worth five billion dollars sold outside Iraq," pointing out that "his ministry issued treasury bills for the year worth four trillion Iraqi dinars [the equivalent of about $ 3.5 billion in the local market on behalf of the Ministry of Oil and perhaps issued additional authorizations of $ 1.5 billion. "
And the Minister of Finance that "Iraq is now owns the necessary funds to pay dues to the international oil companies," he said. "I think we're going to start reimbursing the international oil companies in the first of next April."
Zebari said "we have allocated $ 12 billion in going forward for the oil ministry, but they want more pay dues to the international oil companies in order to stimulate production."
Iraq is witnessing economic distress, in light of the decline in oil prices, which reflected negatively on the federal budget for 2015 and led to the deficit by 25%, as called for economists to the need to stimulate the private sector and activating investment and the adoption of local products to increase imports and reduce Alanfaq.anthy 2
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