Iraq plans to issue treasury bonds and approached the World Bank for soft loans

Parliamentary Finance Committee revealed on Sunday, for the determination of the Ministry of Finance issued domestic and foreign treasury bonds to meet the current year's budget deficit, noting the government's intention to approach the World Bank to obtain long-term soft loans.

The committee member said Sarhan Ahmed Sarhan in a press statement, "The Ministry of Finance will resort to the issuance of local financing bonds by selling shares to citizens or foreign treasury bonds to meet the current year's budget deficit," adding that "the government also will resort to approach the World Bank to obtain soft loans to pay long-term".

He explained that "the shortfall in the budget totaled about 21 trillion dinars and can not fill the deficit only through those steps," and urged a "comprehensive political and national decision to eliminate the financial and administrative corruption and strictly apply the policy of austerity."

Sarhan and pointed out that "the move will boost foreign and domestic investor confidence in the market to put his money in a profit-generating projects for factories, residential, tourism and other vital sectors."




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