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Zebari: We seek to get the sovereign rating and the issuance of bonds by five billion dollars (Dif-Source)
Thursday April 30 2015 17:45
Alsumaria News / Baghdad
announced Finance Minister Hoshyar Zebari , on Thursday, for the pursuit Iraq to obtain the sovereign rating and communicate with the credit rating agencies, noting that it was preparing to issue huge bonds worth five billion dollars to cover the fiscal deficit. Zebari said in remarks reported by " Reuters "that" Iraq seeking sovereign rating and continue with the credit rating agencies, "explaining that" seeks to connect with two or three credit rating agencies. "
Zebari said that "Iraq is preparing to issue huge bonds worth five billion dollars needed to cover the budget caused by lower oil prices deficit," noting "We started the process of banks is also seeking to help us in this direction." And on the fund managers believe that Baghdad would face difficulty in the sale of five billion dollars Shortly, the finance minister stressed that "we have in the budget commitment to issue six billion, so this is the minimum, and this is our plan to cover the deficit," adding, "But there is no way to released in a single chip." It is said that Iraq's existing dollar-denominated bond issue worth in 2028 and prompted a wave of panic selling late last year with the erosion of oil prices, the yield on these bonds to rise to a record high at 10.49% from about 7.2% in September but the yield has since tumbled to 8.04%.
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Thursday April 30 2015 17:45
Alsumaria News / Baghdad
announced Finance Minister Hoshyar Zebari , on Thursday, for the pursuit Iraq to obtain the sovereign rating and communicate with the credit rating agencies, noting that it was preparing to issue huge bonds worth five billion dollars to cover the fiscal deficit. Zebari said in remarks reported by " Reuters "that" Iraq seeking sovereign rating and continue with the credit rating agencies, "explaining that" seeks to connect with two or three credit rating agencies. "
Zebari said that "Iraq is preparing to issue huge bonds worth five billion dollars needed to cover the budget caused by lower oil prices deficit," noting "We started the process of banks is also seeking to help us in this direction." And on the fund managers believe that Baghdad would face difficulty in the sale of five billion dollars Shortly, the finance minister stressed that "we have in the budget commitment to issue six billion, so this is the minimum, and this is our plan to cover the deficit," adding, "But there is no way to released in a single chip." It is said that Iraq's existing dollar-denominated bond issue worth in 2028 and prompted a wave of panic selling late last year with the erosion of oil prices, the yield on these bonds to rise to a record high at 10.49% from about 7.2% in September but the yield has since tumbled to 8.04%.
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