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Stable outlook for the economy and Iraq's sovereign rating - B
8/12/2015 0:00
BAGHDAD
said Fitch credit rating: the recovery of oil prices will contribute to improving the overall financial situation of Iraq unexpected at the same time a deficit slightly by 2017. year
comes this at a time when the institution Iraq awarded first credit rating has sovereign versions of which is sought by the country before his intention to issue bonds international worth five billion dollars intended to alleviate the pressure drop in oil prices on the state budget.
meet the lenders known credit rating GCR an acronym for (global credit rating) as a measure to assess the possibility of the borrower to meet its obligations in the face of the lenders or other words the risk of non-payment of lender (the source of the bond) to fulfill its obligations (loan value and benefits) of the borrower (bond) holder. And is rated the world's credit ladder classification consists of 4 degrees is A, B, C and D as well as variables that represent signal the + or - different Petkrarat. Economists believe that Iraq get the sovereign rating and the low is better than not having any degree rating because the lack of a degree classification means that the country is one of the non-existent investment areas even if high-risk. investment grade rating and Fitch chose B_ rating with a stable outlook for Iraq which is less than six degrees from investment grade AAA) or A +++) attributed it to political risk and poor security, which said it is one of the most serious risks faced by any sovereign entity has assigned a credit Fitch. According to experts Also, this category can be reconsidered after the stability of economic, security and financial situation of Iraq as well as being a possess qualifications that will raise the degree Ranked advanced degrees. Being the owner of the fifth-largest oil reserves in the world can be for Iraq to become an attractive investment for some investors. Oil contributes 40 percent of gross domestic product of Iraq and more than 90 percent of the public finance ongoing foreign transaction revenues. predicted Fitch also a deficit in dozens of public finance Iraq's box in 2015 because of falling oil prices and increased military spending and costs associated with efforts to fight al (Daash ) terrorist. production costs , according to Fitch Ratings said in a statement (low production costs. Most of the facilities and infrastructure for the production of oil infrastructure is far from unsafe areas on the inside). For his part, Secretary of the Finance Committee in the Iraqi Parliament Haitham al-Jubouri said that the rating low "does not meet the ambitions" but might be considered the start of the financial development point. He said al-Jubouri told Reuters: »It encourages us to start taking serious steps to reform the Iraqi banking sector and send a strong message to investors and improve our own future economic and financial outlook.»
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8/12/2015 0:00
BAGHDAD
said Fitch credit rating: the recovery of oil prices will contribute to improving the overall financial situation of Iraq unexpected at the same time a deficit slightly by 2017. year
comes this at a time when the institution Iraq awarded first credit rating has sovereign versions of which is sought by the country before his intention to issue bonds international worth five billion dollars intended to alleviate the pressure drop in oil prices on the state budget.
meet the lenders known credit rating GCR an acronym for (global credit rating) as a measure to assess the possibility of the borrower to meet its obligations in the face of the lenders or other words the risk of non-payment of lender (the source of the bond) to fulfill its obligations (loan value and benefits) of the borrower (bond) holder. And is rated the world's credit ladder classification consists of 4 degrees is A, B, C and D as well as variables that represent signal the + or - different Petkrarat. Economists believe that Iraq get the sovereign rating and the low is better than not having any degree rating because the lack of a degree classification means that the country is one of the non-existent investment areas even if high-risk. investment grade rating and Fitch chose B_ rating with a stable outlook for Iraq which is less than six degrees from investment grade AAA) or A +++) attributed it to political risk and poor security, which said it is one of the most serious risks faced by any sovereign entity has assigned a credit Fitch. According to experts Also, this category can be reconsidered after the stability of economic, security and financial situation of Iraq as well as being a possess qualifications that will raise the degree Ranked advanced degrees. Being the owner of the fifth-largest oil reserves in the world can be for Iraq to become an attractive investment for some investors. Oil contributes 40 percent of gross domestic product of Iraq and more than 90 percent of the public finance ongoing foreign transaction revenues. predicted Fitch also a deficit in dozens of public finance Iraq's box in 2015 because of falling oil prices and increased military spending and costs associated with efforts to fight al (Daash ) terrorist. production costs , according to Fitch Ratings said in a statement (low production costs. Most of the facilities and infrastructure for the production of oil infrastructure is far from unsafe areas on the inside). For his part, Secretary of the Finance Committee in the Iraqi Parliament Haitham al-Jubouri said that the rating low "does not meet the ambitions" but might be considered the start of the financial development point. He said al-Jubouri told Reuters: »It encourages us to start taking serious steps to reform the Iraqi banking sector and send a strong message to investors and improve our own future economic and financial outlook.»
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