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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Iraq Counts on IMF Agreement, U.S. Guarantee to Issue Eurobonds Khalid Al Ansary Ahmed Feteha Ahme

    Rocky
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    Iraq Counts on IMF Agreement, U.S. Guarantee to Issue Eurobonds  Khalid Al Ansary Ahmed Feteha  Ahme Empty Iraq Counts on IMF Agreement, U.S. Guarantee to Issue Eurobonds Khalid Al Ansary Ahmed Feteha Ahme

    Post by Rocky Thu 28 Apr 2016, 4:58 pm


    [size=49]Iraq Counts on IMF Agreement, U.S. Guarantee to Issue Eurobonds


     
                                                  
    April 28, 2016 — 5:54 AM CDT
    [You must be registered and logged in to see this link.][url=https://twitter.com/intent/tweet?url=http%3A%2F%2Fbloom.bg%2F1SBZlgU&text=Iraq Counts on IMF Agreement%2C U.S. Guarantee to Issue]Share on Twitter[/url][/size]
    High interest rates are preventing Iraq from tapping the international bond market to plug its budget deficit, with the government hoping a deal with the International Monetary Fund would significantly cut its borrowing costs.
    The war-torn oil producer is having “big problems” selling foreign bonds because lenders are asking for an interest rate of 11.5 percent, Deputy Finance Minister Fadhel Nabi said in an interview in Erbil. The rate would fall to as low as 4 percent if Iraq reaches a stand-by agreement with the IMF, or if the U.S. agreed to back the bond sale.
    Iraq aims to sell Eurobonds in the second half of this year, while the IMF has said it hopes to conclude an agreement with authorities in Baghdad in May.

    Iraq’s oil revenue has dropped as crude prices plummeted, a problem compounded by the government’s expensive war against Islamic State militants who have taken over some major Iraqi cities.
    Nabi said he expects the price of oil to rise to $50 per barrel by the end of 2016, and $60-$65 next year. Iraq may draft its 2017 budget based on an oil price of $32 per barrel “to be on the safe-side,” he said.
    The conflict with Islamic State, which captured swaths of northern Iraq in the summer of 2014, has destroyed economic infrastructure, disrupted trade and discouraged investment. The country is facing the “double shock” of war as well as the crude-oil price drop, and has “urgent” balance-of-payment and budget needs, the IMF said in January.

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