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After a contraction of economic activity .. Iraq resorted to international bonds to finance its projects and salaries
September 09 .2015 - 17:22
Baghdad
It showed a prospectus, said on Wednesday that Iraq will use the proceeds of the issuance of international bonds to finance the salaries and infrastructure projects in the oil and gas, electricity and transport sectors, according to "Reuters".
Baghdad is seeking to raise up to six billion dollars through a series of bond issuance in US dollars is expected to be the first version about a third of this amount will be.
And representatives of the government will begin on Thursday, a week-long promotional tour in Europe and the United States for marketing versions.
And manages the bank Citigroup, Deutsche Bank, JP Morgan International Version, which is the first of Iraq nine years ago, and seeks Iraq's second-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC) to finance a budget deficit caused by falling oil prices and the war against militants organize "Daash ".
Prospectus showed that economic activity in Iraq shrank 6.7 percent in the first quarter of the year compared with the same period last year, and excludes most of the economic activity figure in the areas controlled by the organization "Daash".
The total volume of public debt to $ 39.5 billion at the end of June, compared to $ 33.3 billion at the end of last year, according to the prospectus.
The bulletin added that foreign exchange reserves fell to $ 61.2 billion in July, compared to $ 66.3 billion at the end of last year.
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September 09 .2015 - 17:22
Baghdad
It showed a prospectus, said on Wednesday that Iraq will use the proceeds of the issuance of international bonds to finance the salaries and infrastructure projects in the oil and gas, electricity and transport sectors, according to "Reuters".
Baghdad is seeking to raise up to six billion dollars through a series of bond issuance in US dollars is expected to be the first version about a third of this amount will be.
And representatives of the government will begin on Thursday, a week-long promotional tour in Europe and the United States for marketing versions.
And manages the bank Citigroup, Deutsche Bank, JP Morgan International Version, which is the first of Iraq nine years ago, and seeks Iraq's second-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC) to finance a budget deficit caused by falling oil prices and the war against militants organize "Daash ".
Prospectus showed that economic activity in Iraq shrank 6.7 percent in the first quarter of the year compared with the same period last year, and excludes most of the economic activity figure in the areas controlled by the organization "Daash".
The total volume of public debt to $ 39.5 billion at the end of June, compared to $ 33.3 billion at the end of last year, according to the prospectus.
The bulletin added that foreign exchange reserves fell to $ 61.2 billion in July, compared to $ 66.3 billion at the end of last year.
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