Iraq looking version with banks likely to bonds worth six billion dollars

Editor Mustafa Saad - Tuesday 3 March 2015 20:05


Alsumaria News / Baghdad
Finance Minister Hoshyar Zebari , on Tuesday, that Iraq looking with Deutsche Bank and Citibank version potential for bonds worth about six billion dollars to cover the budget deficit, and as he pointed to convert 250 trillion dinars to the territory of Kurdistan by the federal government since the beginning of the year, he considered it a " a small part "of the amount expected.


Zebari said in an interview reported by " Reuters "," The Ministry of Finance is considering measures including the issuance of bonds and borrowing from state banks and the conversion of some of the Iraqi banking assets in the Central Bank to bonds, "noting that" The ministry may also considering raising funds through sales of futures oil if Cabinet rejected plans to issue bonds for ten years. "

Zebari said, that "Iraq is looking with Deutsche Bank and Citibank version potential for bonds worth about six billion dollars to cover the expected huge budget deficit this year," noting that by saying, "I think people now realize that this budget realistic."

He said Zebari, that "a proposal to convert 50% of the state banks with the central bank's assets into bonds Seder about five billion dollars to get a $ 1.8 billion through the International Monetary Fund and Iraq also will use special drawing rights".

He said Zebari, "In general, we try projected deficit through our own resources to cover."

And on the oil agreement between Baghdad and Erbil, said the Minister of Finance, that "the authorities in the capital and the Kurdistan Regional Government remains committed to the agreement despite disagreements about the amount of exports and payments", stressing said "we are dealing with different expectations and a lack of confidence, but the agreement coherent and talks were continuing."

He said Zebari, that "the government has turned 250 trillion dinars for the Kurdistan region since the beginning of the year, a small fraction of the amount originally expected," and expressed the hope "to pay another part soon and a new round of talks."

The House of Representatives voted in (January 29, 2015), the draft federal budget for the current year worth in excess of Al119 trillion dinars and a deficit of about 25 trillion, and set the price of a barrel of oil at $ 56.


http://www.alsumaria.tv/news/126690/العراق-يبحث-مع-بنوك-إصدارا-محتملا-لسندات/ar