Zebari: Iraq is considering the issuance of international bonds denominated in dollars
Zebari: Iraq is considering the issuance of international bonds denominated in dollars to help bridge the deficit going forward
Wednesday, March 18 / March 2015 18:25
Finance Minister Hoshyar Zebari said on Wednesday that Iraq is considering the issuance of international bonds denominated in dollars for five years worth five billion dollars to help it plug in going forward and will soon begin to pay some dues foreign oil companies.
Zebari said in a statement to Reuters, and I followed all of Iraq [where], “for government bonds will start talks with Citibank and Deutsche Bank tomorrow,” in reference to the two banks, which Fodthma Baghdad to advise on the deal. ”
“I think in borrowing through the issuance of government bonds worth five billion dollars sold outside Iraq.”
And may issue bonds to be five billion dollars a big deal it is difficult for international investors absorbed all at once, especially in light of the lack of political and economic stability in Iraq. Zebari did not elaborate on the release date or financial conditions.
Zebari said that “his ministry issued treasury bills for the year worth four trillion Iraqi dinars, equivalent to about $ 3.5 billion in the local market on behalf of the Ministry of Oil and may issue additional authorizations of $ 1.5 billion.
He said, “Iraq is now owns the necessary funds to pay dues to the international oil companies.
“I think we will start reimbursing the international oil companies in the first of April.”
Zebari said “we have allocated $ 12 billion in going forward for the oil ministry, but they want more pay dues to the international oil companies in order to stimulate production.” ended