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Saleh supports the non-issuance of international bonds
Tuesday 10.13.2015 1:03
Baghdad news / Baghdad
supported the Economic Adviser to the Prime Minister, the decision of the Ministry of Finance not to issue international bonds, indicating that they have several alternatives, including domestic borrowing or from states and other agencies "less harmful" on Iraq, while calling member of the Finance Committee of Parliament to resort to borrowing and internal activation sector the private activities of industrial and agricultural to revive the local economy. "The Undersecretary of the Ministry of Finance, Fadel Prophet, said in media statements followed up (range Press), said that" Iraq suspended its plans to issue international bonds because the yield to be paid will be very high, "asserting that" the Minister of Finance Hoshyar Zebari, is stopping them because the interest rate it would be high. "The foreign media, confirmed the intention of Iraq to collect about two billion dollars from the initial version is denominated in the US currency, in the framework of a series of versions of the tune of six billion dollars, indicating that investors demanded yields" very high, "which he will carry Iraq heavy financial burdens." He said the appearance of Mohammed Saleh, Economic Adviser to the President of the Iraqi Council of Ministers, Haider al-Abadi, said in an interview to the (long-Presse), "The Ministry of Finance is the competent authority to issue international bonds because it is a financial planner and you know the ability of Iraq to afford, "and expressed" support the decision of the Minister of Finance to stop international bond issuance. "promised favor, that" Step prudential carried out by the Ministry of Finance are correct within the worst-case scenario plans, "noting that it" orientation constitutes a test of the market, and experience successful to figure out alternatives and international lenders and interest rate implications. "He continued economic advisor to the prime minister, that" the Ministry of Finance has several alternatives, including domestic borrowing or lending of other countries institutions, or lending agency of Japan and the International Monetary Fund and the World Bank, being less harmful to Iraq. " . in turn welcomed member of the Finance Committee in Parliament, the decision of the Ministry of Finance, saying its refusal to borrow from abroad. "said Majida al-Tamimi, in an interview to the (long-Presse), said that" in the current 2015 budget included an item with the borrowing of about six billion dollars to cover the fiscal deficit, " noting that "countries that wanted the Ministry of Finance borrowing was on detailed knowledge of how badly Iraqi economic reality and the suffering of the great corruption." revealed Al-Tamimi, expressed "surprise those states officials of asylum Iraq to borrow despite the enormity of the oil revenues, and the extent of corruption and waste of public money, which has damaged the reputation of the country global forums, and forced him to borrow, the weaker position of the negotiating team. "said a member of the parliamentary finance committee, that those" authorities offered to lend Iraq billion dollars just a very large interest rate of 11.5 percent, "she said," refusing to borrow Iraq from countries of the world, and the need for sufficiency of available financial resources with a good investment. "and wondered Tamimi, if" I did not know what to do with our money, how we keep on loans and improve its investment, "likely to" seep loan money into the pockets of corrupt if remained current corrupt system. "and promised a member of the parliamentary finance committee, "The perfect solution to reduce the current economic crisis is internal borrowing from citizens' money in banks, and urged the others to deposit their money in banks to benefit from the government in exchange for the issuance of their bonds, similar to what I did Egypt." She called Tamimi, to the need to "activate the private sector and sectors industrial, agricultural, and benefit from the loans granted by the Central Bank of Iraq, for the development of the local economy. "
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Tuesday 10.13.2015 1:03
Baghdad news / Baghdad
supported the Economic Adviser to the Prime Minister, the decision of the Ministry of Finance not to issue international bonds, indicating that they have several alternatives, including domestic borrowing or from states and other agencies "less harmful" on Iraq, while calling member of the Finance Committee of Parliament to resort to borrowing and internal activation sector the private activities of industrial and agricultural to revive the local economy. "The Undersecretary of the Ministry of Finance, Fadel Prophet, said in media statements followed up (range Press), said that" Iraq suspended its plans to issue international bonds because the yield to be paid will be very high, "asserting that" the Minister of Finance Hoshyar Zebari, is stopping them because the interest rate it would be high. "The foreign media, confirmed the intention of Iraq to collect about two billion dollars from the initial version is denominated in the US currency, in the framework of a series of versions of the tune of six billion dollars, indicating that investors demanded yields" very high, "which he will carry Iraq heavy financial burdens." He said the appearance of Mohammed Saleh, Economic Adviser to the President of the Iraqi Council of Ministers, Haider al-Abadi, said in an interview to the (long-Presse), "The Ministry of Finance is the competent authority to issue international bonds because it is a financial planner and you know the ability of Iraq to afford, "and expressed" support the decision of the Minister of Finance to stop international bond issuance. "promised favor, that" Step prudential carried out by the Ministry of Finance are correct within the worst-case scenario plans, "noting that it" orientation constitutes a test of the market, and experience successful to figure out alternatives and international lenders and interest rate implications. "He continued economic advisor to the prime minister, that" the Ministry of Finance has several alternatives, including domestic borrowing or lending of other countries institutions, or lending agency of Japan and the International Monetary Fund and the World Bank, being less harmful to Iraq. " . in turn welcomed member of the Finance Committee in Parliament, the decision of the Ministry of Finance, saying its refusal to borrow from abroad. "said Majida al-Tamimi, in an interview to the (long-Presse), said that" in the current 2015 budget included an item with the borrowing of about six billion dollars to cover the fiscal deficit, " noting that "countries that wanted the Ministry of Finance borrowing was on detailed knowledge of how badly Iraqi economic reality and the suffering of the great corruption." revealed Al-Tamimi, expressed "surprise those states officials of asylum Iraq to borrow despite the enormity of the oil revenues, and the extent of corruption and waste of public money, which has damaged the reputation of the country global forums, and forced him to borrow, the weaker position of the negotiating team. "said a member of the parliamentary finance committee, that those" authorities offered to lend Iraq billion dollars just a very large interest rate of 11.5 percent, "she said," refusing to borrow Iraq from countries of the world, and the need for sufficiency of available financial resources with a good investment. "and wondered Tamimi, if" I did not know what to do with our money, how we keep on loans and improve its investment, "likely to" seep loan money into the pockets of corrupt if remained current corrupt system. "and promised a member of the parliamentary finance committee, "The perfect solution to reduce the current economic crisis is internal borrowing from citizens' money in banks, and urged the others to deposit their money in banks to benefit from the government in exchange for the issuance of their bonds, similar to what I did Egypt." She called Tamimi, to the need to "activate the private sector and sectors industrial, agricultural, and benefit from the loans granted by the Central Bank of Iraq, for the development of the local economy. "
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