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Iraq seeks to Mali sovereign rating
Thursday, April 30, 2015 - 16:57 GMT Abu Dhabi
Abu Dhabi - Sky News Arabic
Iraqi Finance Minister, Hoshyar Zebari, said Thursday that his country is seeking a sovereign rating, and continue with the credit rating agencies.
He added that Iraq is preparing to issue huge bonds worth five billion dollars, are required to cover the budget deficit caused by low oil prices.
Zebari told Reuters in a telephone interview, "We started the process. Banks also seek to help us in this direction."
The Iraqi government has announced its intention to issue bonds worth five billion dollars, in the first issue in the international bond market nine years ago.
Iraq and in dire need of liquidity, as the government is expected to reach the deficit this year to about 25 percent of the budget of almost $ 100 billion in size.
And obtain a sovereign rating from a major credit agency, which is currently lacking in Iraq, may help persuade the international fund managers and international banks in underwriting bonds.
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Thursday, April 30, 2015 - 16:57 GMT Abu Dhabi
Abu Dhabi - Sky News Arabic
Iraqi Finance Minister, Hoshyar Zebari, said Thursday that his country is seeking a sovereign rating, and continue with the credit rating agencies.
He added that Iraq is preparing to issue huge bonds worth five billion dollars, are required to cover the budget deficit caused by low oil prices.
Zebari told Reuters in a telephone interview, "We started the process. Banks also seek to help us in this direction."
The Iraqi government has announced its intention to issue bonds worth five billion dollars, in the first issue in the international bond market nine years ago.
Iraq and in dire need of liquidity, as the government is expected to reach the deficit this year to about 25 percent of the budget of almost $ 100 billion in size.
And obtain a sovereign rating from a major credit agency, which is currently lacking in Iraq, may help persuade the international fund managers and international banks in underwriting bonds.
[You must be registered and logged in to see this link.]
