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The private sector contributes to the promotion of the value of sovereign bonds
7/9/2015 0:00
BAGHDAD
of the country's economy is facing several challenges Perhaps the most prominent of the energy for the productive sectors, which in turn will drive the economy and contribute greatly to reduce dependence on oil exports to finance the budget, which is expected to provide experiencing a deficit of Iraq is seeking to diluted by issuing IOUs Sovereign will be launched by the Ministry of Finance to world markets soon.
In this regard, the banking advisor Dr. Essam Mahouelle said that the most prominent What's economy is facing the country in general production in particular, and the private sector is the lack of electric power supply, which is a major nerve in the establishment of any industry or similar economy the economy of Iraq.
He Mahouelle in an interview for »morning» if the energy savings to the factories and the rest of the productive sectors will be dispensed import including rate of 65 percent, and for all types of goods, noting that the continuation of the industry stops will exacerbate the economic problems as well as it goes with money the country to import can be produced and its industry locally and save millions of dollars rather than wasted in this way.
He stressed that the activation of the productive sectors will contribute a lot in driving the economy forward because of the supplied jobs and absorb unemployment rate in turn reduces poverty rates and gives the country economically remarkable stability and growth will be reflected in the value of bonds planned Country issued to reduce the deficit in the budget of next year and subsequent years.
represented by Ministry of Finance, the government is preparing during the current period to start marketing to sell bonds denominated in dollars and euros in US and international markets to obtain cash financing for the purpose of bridging the deficit in the budget of next year.
According to one interested in the economy of Iraq, the sites banks «City Krupp, the Bank of the Netherlands, and JP Morgan» Source will be the President of the Iraqi bonds expected to sell.
He said the site «that the material yield, which he hopes Iraq raised from the bond sale will be $ 6 billion to cover the shortfall in the projected budget next year, this version comes to be the first since nearly decade where the last international items Iraq was issued in 2006.
This comes at a time when «Fitch» Foundation awarded credit rating, last month, Iraq its first credit rating sovereign versions of which is sought by the country before his intention to issue international bonds worth five billion dollars, aims to ease the pressure drop in oil prices on the state budget.
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 lenders, or in other words, the risk of non-payment of lender (issuer) to meet obligations (loan value and benefits) of the borrower (bond holder). And is rated the world's credit rating ladder consists of four grades are A, B, C and D as well as variables that represent signal the + or - different Petkrarat.
And chose B_ Fitch 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 receives credit rated by Fitch. According to experts Also, this category can be reconsidered after the stability of economic, security and financial situation of Iraq as well as because it possesses the qualifications that will raise the degree Ranked advanced degrees.
He returned Mahouelle to confirm the importance of the role of domestic production in the granting of Iraq international economic reputation contribute to enhance its potential and its wealth and resources through the installation of its obligations to pay sovereign debt in this area.
He believed that Iraq is able to meet the challenges of the budget and the decline in world oil prices deficit if they were able to solve the electricity problem, especially since he has the stature of a tourist religious and historical as well as being an agricultural and industrial countries has young energies money enjoyed by the country one else possesses these ingredients combined.
He concluded by saying: that the majority of countries with sovereign rating based and relied heavily on the private sector, Maittalb currently providing government support to him through legislation and facilities including the Aatqata economic and the need for Iraq to maximize its financial resources, stressing that the private sector has the ingredients for success if there conditions of the local production directed to cover the need of the market and the reduction of indiscriminate imports that drained a large part of his money.
He said it is necessary now to activate the reforms adopted by the government, especially regarding the economic aspect, explaining that the sector your own flexibility in the movement of funds and free from bureaucratic constraints, as well as it tends to achieve feasibility.
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7/9/2015 0:00
BAGHDAD
of the country's economy is facing several challenges Perhaps the most prominent of the energy for the productive sectors, which in turn will drive the economy and contribute greatly to reduce dependence on oil exports to finance the budget, which is expected to provide experiencing a deficit of Iraq is seeking to diluted by issuing IOUs Sovereign will be launched by the Ministry of Finance to world markets soon.
In this regard, the banking advisor Dr. Essam Mahouelle said that the most prominent What's economy is facing the country in general production in particular, and the private sector is the lack of electric power supply, which is a major nerve in the establishment of any industry or similar economy the economy of Iraq.
He Mahouelle in an interview for »morning» if the energy savings to the factories and the rest of the productive sectors will be dispensed import including rate of 65 percent, and for all types of goods, noting that the continuation of the industry stops will exacerbate the economic problems as well as it goes with money the country to import can be produced and its industry locally and save millions of dollars rather than wasted in this way.
He stressed that the activation of the productive sectors will contribute a lot in driving the economy forward because of the supplied jobs and absorb unemployment rate in turn reduces poverty rates and gives the country economically remarkable stability and growth will be reflected in the value of bonds planned Country issued to reduce the deficit in the budget of next year and subsequent years.
represented by Ministry of Finance, the government is preparing during the current period to start marketing to sell bonds denominated in dollars and euros in US and international markets to obtain cash financing for the purpose of bridging the deficit in the budget of next year.
According to one interested in the economy of Iraq, the sites banks «City Krupp, the Bank of the Netherlands, and JP Morgan» Source will be the President of the Iraqi bonds expected to sell.
He said the site «that the material yield, which he hopes Iraq raised from the bond sale will be $ 6 billion to cover the shortfall in the projected budget next year, this version comes to be the first since nearly decade where the last international items Iraq was issued in 2006.
This comes at a time when «Fitch» Foundation awarded credit rating, last month, Iraq its first credit rating sovereign versions of which is sought by the country before his intention to issue international bonds worth five billion dollars, aims to ease the pressure drop in oil prices on the state budget.
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 lenders, or in other words, the risk of non-payment of lender (issuer) to meet obligations (loan value and benefits) of the borrower (bond holder). And is rated the world's credit rating ladder consists of four grades are A, B, C and D as well as variables that represent signal the + or - different Petkrarat.
And chose B_ Fitch 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 receives credit rated by Fitch. According to experts Also, this category can be reconsidered after the stability of economic, security and financial situation of Iraq as well as because it possesses the qualifications that will raise the degree Ranked advanced degrees.
He returned Mahouelle to confirm the importance of the role of domestic production in the granting of Iraq international economic reputation contribute to enhance its potential and its wealth and resources through the installation of its obligations to pay sovereign debt in this area.
He believed that Iraq is able to meet the challenges of the budget and the decline in world oil prices deficit if they were able to solve the electricity problem, especially since he has the stature of a tourist religious and historical as well as being an agricultural and industrial countries has young energies money enjoyed by the country one else possesses these ingredients combined.
He concluded by saying: that the majority of countries with sovereign rating based and relied heavily on the private sector, Maittalb currently providing government support to him through legislation and facilities including the Aatqata economic and the need for Iraq to maximize its financial resources, stressing that the private sector has the ingredients for success if there conditions of the local production directed to cover the need of the market and the reduction of indiscriminate imports that drained a large part of his money.
He said it is necessary now to activate the reforms adopted by the government, especially regarding the economic aspect, explaining that the sector your own flexibility in the movement of funds and free from bureaucratic constraints, as well as it tends to achieve feasibility.
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