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Government advisor reveals the value of Iraq's international bonds
September 6 21:58
Information / Baghdad..
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed, on Tuesday, the value of Iraq's total international bonds in global markets and the revenues generated.
Saleh said, to the official agency and followed by / the information /, that
"the international bonds issued by Iraq are divided into two parts, the
first relates to the bond called (Iraq 2028), which represents the foreign private sector dues for its debts owed by Iraq and called debts before 1990, which It was discounted by 80% under the Paris Club agreement for the year 2004, and the
remaining receivables, i.e. 20%, were replaced by European bonds that are due to be amortized once in 2028 and are currently traded in buying and selling in the European secondary capital markets, with a total value of 2.7 billion dollars and carrying an annual interest of 5.8%. He added,
"The annual interest to the holders is paid according to regular semi-annual schedules, and the management of these bonds is handled by the major international banks in the London market of the undertakers." He pointed out that
"the second section was issued in the year 2016 and they consisted of two bonds of the first Iraq with a value of (one billion dollars), and with the guarantee of the United States government and it is called (Tigris), and with an interest paid annually of about 2.4%, and the principal of the bond (Tigris) is paid once in the next year.". And Saleh continued,
"The proceeds of the aforementioned bond go to the benefit of financing the deficit in the general budget during the war on ISIS terrorist gangs," noting that
"the second bond was issued with a value of (one billion dollars also) in the year 2016 and was called (the Euphrates) and with the guarantee of the government of the Republic of Iraq and with an interest that exceeded 6.7 % annually. He pointed out that
"the amount went to directly finance the deficit in the general budget in the circumstances of the war on terrorism, and it will be paid once in the next year as well," noting that
"the lowest category of bonds is worth 200 thousand dollars, and the bond categories increase in multiples, and the interest is paid semi-annually." To bond holders through major international banks (obligors) until the value of the bond is amortized once in the next year. Salih stressed that
"the total value of Iraq's international bonds currently circulating in European markets is about $4.7 billion, and these bonds are subject to Iraq's current credit rating of B, which is part of the country's external public debt to be paid." finished 25
Government advisor reveals the value of Iraq's international bonds
September 6 21:58
Information / Baghdad..
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed, on Tuesday, the value of Iraq's total international bonds in global markets and the revenues generated.
Saleh said, to the official agency and followed by / the information /, that
"the international bonds issued by Iraq are divided into two parts, the
first relates to the bond called (Iraq 2028), which represents the foreign private sector dues for its debts owed by Iraq and called debts before 1990, which It was discounted by 80% under the Paris Club agreement for the year 2004, and the
remaining receivables, i.e. 20%, were replaced by European bonds that are due to be amortized once in 2028 and are currently traded in buying and selling in the European secondary capital markets, with a total value of 2.7 billion dollars and carrying an annual interest of 5.8%. He added,
"The annual interest to the holders is paid according to regular semi-annual schedules, and the management of these bonds is handled by the major international banks in the London market of the undertakers." He pointed out that
"the second section was issued in the year 2016 and they consisted of two bonds of the first Iraq with a value of (one billion dollars), and with the guarantee of the United States government and it is called (Tigris), and with an interest paid annually of about 2.4%, and the principal of the bond (Tigris) is paid once in the next year.". And Saleh continued,
"The proceeds of the aforementioned bond go to the benefit of financing the deficit in the general budget during the war on ISIS terrorist gangs," noting that
"the second bond was issued with a value of (one billion dollars also) in the year 2016 and was called (the Euphrates) and with the guarantee of the government of the Republic of Iraq and with an interest that exceeded 6.7 % annually. He pointed out that
"the amount went to directly finance the deficit in the general budget in the circumstances of the war on terrorism, and it will be paid once in the next year as well," noting that
"the lowest category of bonds is worth 200 thousand dollars, and the bond categories increase in multiples, and the interest is paid semi-annually." To bond holders through major international banks (obligors) until the value of the bond is amortized once in the next year. Salih stressed that
"the total value of Iraq's international bonds currently circulating in European markets is about $4.7 billion, and these bonds are subject to Iraq's current credit rating of B, which is part of the country's external public debt to be paid." finished 25
