Iraq is negotiating with international banks to find the resources to meet the budget deficit

Admin Tue Jun 16, 2015 8:53 am

15/06/2015

BAGHDAD / JD / .. Search Finance Minister Hoshyar Zebari and his accompanying delegation on Monday with a number of international banks in Istanbul to find the financial resources to cover the deficit in the 2015 budget.

A statement from the Ministry of Finance followed / JD / copy of it: Finance Minister Hoshyar Zebari and his accompanying delegation discussed with a number of global banks - JP Morgan and City Bank - and Deutsche Bank - a second day of negotiations in Istanbul to find the financial resources to cover the deficit in the budget 2015

The statement added that Zebari reviewed the performance of the Iraqi economy lost in the current circumstances and the role of the federal budget for this year in cost control and enhance the resources and technical delegation presented its observations to the queries raised by the representatives of the three banks and relating to activities in all economic sectors.

The meeting was attended by the prime minister for economic affairs and an expert adviser to the Ministry of Finance.

We arrived on Sunday evening, a ministerial delegation to Istanbul city government to discuss the final stages in the process of issuing sovereign government bonds in the global financial market.

The delegation included Finance Minister Hoshyar Zebari and Oil Minister Adel Abdul-Mahdi, and Salman al-Jumaili Minister of Planning and Central Bank Governor Dr. Ali Keywords and adviser to the Prime Minister for Economic Affairs, Dr. appearance of Mohammed Saleh and senior advisers and experts participating ministries and the central bank.

The delegation began meetings with representatives of international banks, Citibank and JP Morgan and Deutsche Bank to review the financial and economic, political and security on the Iraq report, as well as with the international law office of Iraq.

The delegation is scheduled to meet also with the two International Tribunals classification and Alloitman Modiner and Fitch in order to determine the credit rating of Iraq in the international capital market.

This was the budget law for 2015 has authorized the government to issue sovereign government bonds by seven trillion dinars to cover the fiscal deficit in the budget.

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