Zebari: Iraq seeks to issue international bonds worth $ 5 billion

Zebari: Iraq seeks to issue international bonds worth $ 5 billion

04/16/2015 07:59 GMT

Zebari - Iraq seeks to issue international bonds worth 5 billionAgencies – Finance Minister Hoshyar Zebari, Iraq decided to international issuance of bonds worth five billion dollars and is negotiating the terms.
Zebari said a number of reporters in Washington that “Iraq is seeking to issue international bonds worth $ 5 billion, and we are negotiating on it with Citibank, Deutsche Bank,” noting that “we have a green light from the government that we need it.”

Zebari said that “the government is facing a deficit of $ 25 billion in the current year’s budget, which amounts to almost $ 100 billion,” he said, adding that “Iraq is also considering a request emergency funding ranging from 400 million to $ 700 million from the International Monetary Fund.”

He added that “Iraq has not made the decision to do so until now,” pointing out that “the International Monetary Fund does not mind in the provision of such support but wants the government to do more to reduce public spending.”

Zebari stressed that “this advice is not a prerequisite, but in fact this is the way to provide these funds.”

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