Finance: the decision to issue international bonds by $ 5 billion

April 16, 2015 11:31

Direct said Iraqi Finance Minister, Hoshyar Zebari, Iraq decided to international bond issue worth five billion dollars and is negotiating the terms in an effort to ease the pressure on government finances and the resulting drop in oil prices, according to Calais "Biamunir" Kurdistan.

Zebari said, in a meeting with a small group of reporters in Washington, said: "We are negotiating on that with Citibank, Deutsche Bank, we meet with them here in Washington, and we have a green from the government that we need the light," while declining to disclose the vesting period, or proceeds being negotiated bonds.

The agency said the Iraqi finance minister, said the government is facing a deficit in the current year's budget Balgha $ 100 billion, $ 25 billion, pointing out that the budget for 2015 are based on an oil price of $ 56 a barrel.

Zebari said that Iraq is also considering a request emergency funding ranging from 400 million to $ 700 million from the International Monetary Fund, according to the "Biamunir."

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