High degree of optimism about Iraq’s credit rating
High degree of optimism about Iraq’s credit rating
1/24/2017 0:00
BAGHDAD / Mustafa al – Hashimi
to prove the role of the private sector should be more realistic in the economic process of Iraq has become the current stage requires for institutions and private sector companies on the credit rating proves its worth , along with all ministries and government departments including gives a clear picture of the investment environment, especially in the reconstruction of liberated areas. Confirmed economic researcher Lubna al – Shammari importance of a credit rating of Iraq in conformity with its potential in its wealth management and be the degree of classification is very close to the reality of the country , including the public gives a true and correct to investors outlook
foreigners.
Iraq had obtained a rating at B- , a first grade credit rating issued by international rating of Iraq ‘s institutions, known as credit rating GCR, which is an acronym for (global credit rating) as a measure to assess the possibility of the borrower to meet its obligations in the face of the lenders in other words risk non – payment of the lender (Sindh) source to fulfill its obligations (loan to value and benefits) of the borrower (bond holder).
And is rated the world ‘s credit rating ladder consists of four grades are A, B, C and D as well as variables that represent signal + or – different Petkrarat. The credit rating agencies of the three, the Standard & Poor ‘s , and Moody’s, Fitch in general risks related to religion versions for both corporations or governments evaluate. She Shammari in an interview for the “morning” it is necessary to ask all ministries and government departments with companies and private sector institutions to obtain the credit rating of the fact that it would give the public sector in the country ‘s real class in the hierarchy of classification after a study of the general situation of the ministries and departments as well as private sector . He pointed out that Iraq is on the liberation of the cities of Mosul and Anbar , from the clutches of “Daesh” terrorist, what gives priority to be the degree of classification optimistic in the final outcome and send reassurance to the world signals that Iraq is secure and stable and become suitable for an entrepreneurial investment environment
varied. She pointed out that the need to increase the degree of Iraq ‘s credit rating by rating institutions
and private sector companies, especially with a positive outlook stable in recent appreciation of the rating, indicating that Iraq has the economic resources , which qualifies him to raise the rating to advanced degrees and better than the
present.
The rating agency Standard & Poor ‘s , the largest credit rating agencies in the world, has recently proven its credit rating for Iraq at B- / B in spite of the fluctuation of oil prices and a height of caution and gave him a stable outlook, adding in a statement that the decline in the price of oil has kept the financial pressure
and external. In turn , spokesman for the Ministry of Planning Abdul – Zahra al – Hindawi said
that the Ministry of Finance approached the concerned international institutions credit rating and not
the Ministry of Planning. Among al – Hindawi told the “morning” that the subject of Iraq ‘s credit rating for the subject of fiscal and monetary policy , a specialty of
the Ministry of Finance.
However , the «Standard & Poor ‘s » pointed out that Iraq possesses huge reserves and has substantial oil exports, thereby reducing the concerns in this
area.
So attached to the agency classified the prospects of a stable, usually at the same time as the country ‘s growth will remain steady in the medium term due to the significant increase in oil production will ease the pressure of the
budget.
alsabaah.iq
