Central Bank postponed the issuance of local bonds to 2015

01/27/2014 14:05


The government wants the first version of its local currency bonds since the overthrow of Saddam Hussein in 2003. Officials said the bonds will be for five years.


BAGHDAD / obelisk said Iraqi Central Bank Governor Abdul Basit Turki Saeed, said on Monday that Iraq postponed the issuance of the first local currency bonds to him in ten years to the next year, while ruled that raises international bonds in 2014.

The government wants the first version of its local currency bonds since the overthrow of Saddam Hussein in 2003. Officials said the bonds will be for five years.

Saeed said in a press statement on the sidelines of a financial conference held in Dubai followed the "obelisk" that "legal difficulties preventing the issuance of bonds this year as scheduled," but gave no details.

He added that "the objective of the version is not funding the government budget deficit, but to expand the capital markets and diversify investment options in front of the banks."

He said he was glad "no plans to issue international bonds this year, but did not comment on the possibility of doing so in the following years."

The Iraqi Central Bank Governor said that "inflation is not a cause for concern as it is currently hovering just above two percent," he said, adding that it is expected that "the economy is growing at more than eight percent in 2014."


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There is a couple of things I can think of

legal difficulties

1. 13303
2. trying to recover their monies for other countries
3. working on Basel III

there is probably more

Central Bank: the law does not allow the issuance of bonds
January 27, 2014

The Governor of Central Bank of Iraq Abdul Basit Turki Saeed work that banking in Iraq has not led a special role in the granting of credit, indicating the presence of goals to the exclusion of private banks from the conversion of foreign currency earnings and Alhml hard to attract foreign capital.

And with respect to the issuance of the bonds referred to Turkish law that the current budget does not allow for the Ministry of Finance so hoping that this is done according to the general budget of the new Quaon.

And assured the governor of the Central Bank of the existence of significant economic challenges facing the Iraqi economy that has failed to diversify its sources of revenue and achieve the sources of income from other sectors such as agriculture, industry and services.



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