Abdul-Mahdi: Iraq is seeking to get the [credit] rating with reasonable raised by government bonds
Abdul-Mahdi: Iraq is seeking to get the [credit] rating with reasonable raised by government bonds
Posted, 06.21.2015 10:34 p.m.
[Baghdad-where]
Oil Minister Adel Abdul-Mahdi said that “Iraq is seeking to get the [credit rating] reasonable.”
Said Abdul-Mahdi said in a statement received by the agency all of Iraq [where] a copy of it “in the past week took place in Istanbul intensive meetings with two of the three global institutions for credit rating] [Fitch] and [Moody], not the third contribute to a [S & P], [which lowered the credit rating of the United States in 2011 from AAA grade to grade + AA], and three of the top international banks which [Citibank] and [JP Morgan and Deutsche Bank, all of that on the one hand, and the Iraqi Minister of Finance and Planning, oil and central bank governor and deputy national security adviser, as well as senior advisers and experts, lawyers for the parties involved. ”
He explained, “The aim calendar credit situation of Iraq, which is [not categorized] [NR, Not publicly rated], and this even lower than lower grades [D], the higher grades are AAA, higher the rating, ahead whenever facilitated transactions rose admissibility and decreased interest rates, and vice versa, especially since Iraq is seeking to put government treasury bonds in international markets to enhance the finances in the face of market volatility, and Egypt, for example classified BB , and Iraq is seeking to get that rating or more. ”
He pointed out Abdul-Mahdi, that “Iraq missed for a long time for global markets, and led the wars and internal situation conflicting long to the collapse of the financial and economic reputation, especially after the accumulated debt and devastated the economic structure, and become a country totally dependent on oil, so the meetings were the necessity to seek the restoration of this situation. ”
He stressed, “There is no doubt that the most serious threat any country is drowning in debt .. But what is more dangerous than that to get the country economic infertility and stop the development process, and begin to produce increasing rates Poverty, ignorance, underdevelopment and unemployment, although the development mobilization process and starting internships, but this process will remain Off and truncated without markets and relationships and global transactions. ”
He added that “the world today – especially in the financial and economic buildings – is the world of structured, ie it controls the phenomenon and hidden, play the senior interests and countries Adora essential, decisions in these forums, in spite of all that is in them from the figures, information and professional, but also the decisions of the interests and impressions wrong and not necessarily an objective and fair decisions. ”
The oil minister said that “In any case, does not reflect the religion itself for malfunction as long as invested in the areas of development, investment and infrastructure or social services that develop the population and human resources, and as long as there check on the payment, the United States is one of the greatest economies, is also the largest debtor country in the world, and other major countries, the city of all, occupies the highest rates [rankings]. ”
And went, “it was to give the International Monetary Fund for Iraq in 2004 [crisis] loan, evidence of Iraq efficiency in the payment of its debts, infers the states and institutions in dealing with Iraq, which was a key step in the negotiations [Paris Club] for the greatest reduction in the average income earned by a country such as Iraq, ie 80-90% of the total 120-130 billion debt, so boast top international companies got high as loans, as a sign of confidence by the banks and their ability to repay and invest the money in growing areas. ” end
alliraqnews.com
