Home
Iraq looking to get credit rating
5/31/2015 0:00
In order to issue dollar-denominated foreign bonds
BAGHDAD - Mostafa Hashemi
Iraq announced its intention to issue sovereign debt securities, internal and external, for the purpose of finding funding to cover the budget, which is estimated at about a quarter of the amount of the budget for the current year's deficit of 119 trillion and 585 billion and 322 million and 783 000 dinars.
According to Article (2 / II / a) of the budget law, the amount of the deficit is covered from internal and external borrowing, and because Iraq lacks the credit rating of the three global agencies, it speed up access to this category for the purpose of issuing foreign bonds fact that the tenure for rating supports its strength in the markets Global.
In this context between economic academic d. Essam Mohamed importance of obtaining the credit rating of sovereign bonds (external) by saying that the degree classification give investors a clear view of a road map of their investments in the country, especially on the subject of the bond because it determines that a wide circulation in the global bond markets after identifying risks.
He Added Mohammed in an interview with "morning": that Iraq is capable of issuing such bonds because it possesses previous experience when the Paris Club launched bonds years ago and is due for repayment in the year 2028.
The Finance Minister Hoshyar Zebari said that Iraq is considering an international bond issue denominated in dollars for five years worth of five billion dollars to help him bridge the budget deficit.
Wade Mohammed is the view of experts and specialists that Iraq enjoys a good reputation in terms of its financial obligations and possesses resources that qualify it paid off its foreign debt at maturity.
The Prime Minister, Dr. economic adviser. The appearance of Mohammed Saleh said the "morning" earlier: that Iraq lacks the sovereign credit rating but bonds issued by to extinguish the Paris Club debt rated close to those countries that have such a rating awarded Iraq.
He explained that the interest and discount on Iraq raised the bond price earlier approaching the price of some countries that have rated sovereign, pointing out that the classification of Iraq's credit, although he did not officially yet determined, Vhually probably at a temperature -B returned him well and cause an indication of optimism, explaining : that this place is an official but set the intensity of the appetite for bonds raised by the Iraqi accordance with the Paris Club and sold in global markets, amounting to $ 2.7 billion at an annual fixed interest rate of 5.8 percent.
It looked to the Committee on Economic Affairs with the competent authorities to issue external loan bonds and the positive influence to get a credit rating from international rating agencies.
This came during a host committee for each of the Chairman of the Finance Committee Dr. Ahmed Chalabi and head of the economic and investment commission Jawad al-Bolani, the Parliamentary, in the presence of Finance bank representatives (Cleary Office Gottlieb Steen & Hamilton LLP, Citibank and Deutsche bank and Jp Morgan), to discuss the article (2 / II / a) of the Federal General Budget about the version of the external loan bonds law and what the expected results of the issuance of those bonds.
As we discussed the positive impact resulting from obtaining a credit from international rating agencies rating to support the economy and the construction and reconstruction in Iraq by increasing the financial resources of the state derived from such bonds.
The Committee on Economic Affairs was formed under the chairmanship of Deputy Prime Minister D.roژ Nuri Shaways and membership of ministers (finance, planning, commerce, agriculture) and Chairman of the National Authority for Investment and Advisor to the Prime Minister for Economic Affairs and the Deputy Secretary General of the Council of Ministers of Finance and Administrative Affairs and the Director of the Legal Department of the Office of the Prime Minister.
[You must be registered and logged in to see this link.]
5/31/2015 0:00
In order to issue dollar-denominated foreign bonds
BAGHDAD - Mostafa Hashemi
Iraq announced its intention to issue sovereign debt securities, internal and external, for the purpose of finding funding to cover the budget, which is estimated at about a quarter of the amount of the budget for the current year's deficit of 119 trillion and 585 billion and 322 million and 783 000 dinars.
According to Article (2 / II / a) of the budget law, the amount of the deficit is covered from internal and external borrowing, and because Iraq lacks the credit rating of the three global agencies, it speed up access to this category for the purpose of issuing foreign bonds fact that the tenure for rating supports its strength in the markets Global.
In this context between economic academic d. Essam Mohamed importance of obtaining the credit rating of sovereign bonds (external) by saying that the degree classification give investors a clear view of a road map of their investments in the country, especially on the subject of the bond because it determines that a wide circulation in the global bond markets after identifying risks.
He Added Mohammed in an interview with "morning": that Iraq is capable of issuing such bonds because it possesses previous experience when the Paris Club launched bonds years ago and is due for repayment in the year 2028.
The Finance Minister Hoshyar Zebari said that Iraq is considering an international bond issue denominated in dollars for five years worth of five billion dollars to help him bridge the budget deficit.
Wade Mohammed is the view of experts and specialists that Iraq enjoys a good reputation in terms of its financial obligations and possesses resources that qualify it paid off its foreign debt at maturity.
The Prime Minister, Dr. economic adviser. The appearance of Mohammed Saleh said the "morning" earlier: that Iraq lacks the sovereign credit rating but bonds issued by to extinguish the Paris Club debt rated close to those countries that have such a rating awarded Iraq.
He explained that the interest and discount on Iraq raised the bond price earlier approaching the price of some countries that have rated sovereign, pointing out that the classification of Iraq's credit, although he did not officially yet determined, Vhually probably at a temperature -B returned him well and cause an indication of optimism, explaining : that this place is an official but set the intensity of the appetite for bonds raised by the Iraqi accordance with the Paris Club and sold in global markets, amounting to $ 2.7 billion at an annual fixed interest rate of 5.8 percent.
It looked to the Committee on Economic Affairs with the competent authorities to issue external loan bonds and the positive influence to get a credit rating from international rating agencies.
This came during a host committee for each of the Chairman of the Finance Committee Dr. Ahmed Chalabi and head of the economic and investment commission Jawad al-Bolani, the Parliamentary, in the presence of Finance bank representatives (Cleary Office Gottlieb Steen & Hamilton LLP, Citibank and Deutsche bank and Jp Morgan), to discuss the article (2 / II / a) of the Federal General Budget about the version of the external loan bonds law and what the expected results of the issuance of those bonds.
As we discussed the positive impact resulting from obtaining a credit from international rating agencies rating to support the economy and the construction and reconstruction in Iraq by increasing the financial resources of the state derived from such bonds.
The Committee on Economic Affairs was formed under the chairmanship of Deputy Prime Minister D.roژ Nuri Shaways and membership of ministers (finance, planning, commerce, agriculture) and Chairman of the National Authority for Investment and Advisor to the Prime Minister for Economic Affairs and the Deputy Secretary General of the Council of Ministers of Finance and Administrative Affairs and the Director of the Legal Department of the Office of the Prime Minister.
[You must be registered and logged in to see this link.]
» utube 10/9/24 MM&C Iraq Dinar News-Optimization-Automation-Digital-Schedule Date-Secured Salaries
» IV Fluid Shortage: Hospital Group Asks Federal Government to Declare National Emergency
» utube 10/7/24 MM&C Iraq Dinar News-Iraqi Dinar-Liquidity-Sudani Report-Digital Phase-Supreme Court
» Rafidain announces contracting with a specialized company and experts in combating money laundering
» Al-Sudani stresses the importance of setting standards for partnership between the Iraq Development
» Parliamentary Oil Committee warns: The region is causing a reduction in Iraqi oil revenues
» MP: Court's comment on the phrase "sovereign" obligates the government and region to end foreign pre
» Iraq continues negotiations with British BP to start developing Kirkuk oil fields
» Iraq is the second largest oil supplier to India in nine months
» The Council of Ministers decides to increase the financial costs of a number of stalled projects
» Association of Banks: More than 600 government institutions adopt electronic payment
» Iraqi oil approaches $80 per barrel
» Electricity: Supply hours are declining for this reason
» Parliamentary Committee stresses the need to continue the school feeding project
» The Central Bank continues the actual implementation of banking reform plans
» World Trade Organization
» Parliamentary report: The government has achieved accomplishments in several files
» Government spokesman: We are continuing our efforts to stop the aggression and we reject the logic o
» The government completes the file to join the "WTO"
» Opening of two residential complexes in Babylon
» Facilitating the procedures for issuing a retirement card in Wasit
» Conducting labor market surveys
» Soon.. Opening of (38) new public transport lines
» Education: Announcement of the imminent elimination of illiterate employees from state institutions
» The Ministry of Interior receives more than (1200) requests within the {Your Plate for Your Home} se
» Baghdad Governorate to {Sabah}: Efforts to resolve the file of violations in the capital
» The Iraqi government rejects the accusations of treason directed at Arab brothers and insulting them
» Analysis of the Iraqi government statement on “Arab brothers”: I felt embarrassed after the threats
» Due to lack of jurisdiction.. Federal Court rejects Parliament’s lawsuit regarding withdrawal of coa
» The regional finance department talks about a deficit of about 305 billion dinars in September salar
» Iraq in the grip of its neighbors.. The absence of defensive means puts it at risk
» Iraqi analyst reveals the secret of Biden's document regarding Iran: 4 points that protect Tehran fr
» Al-Sudani stresses the importance of setting standards for partnership between the Iraq Development
» US Embassy Sends Five Warning Letters to Baghdad Within 72 Hours - Urgent
» Iraq's budget breathes a sigh of relief with rising oil prices..may witness other "jumps"
» Iraq adopts prepayment for Turkmen gas supply via Iran
» Rafidain clarifies the Cabinet’s decision to approve the contract with K2 Integrity
» Iraqi Trade Announces Strategic Stockpile and Launches “Hypermarket” Markets in Baghdad
» The countdown begins for the US withdrawal from Iraq.. Will it affect the country's security?
» The spread of drug farms in Iraq... a new threat that exacerbates security concerns!
» Launching a package of medical and social guidelines to raise awareness of the dangers of breast can
» The government approves the issuance of the second amendment to the investment system
» Integrity Commission reveals readiness of the law to recover corruption proceeds
» How did the Federal Court interpret the phrase “fully sovereign” in the Constitution?
» Al-Sudani directs the Tax Reform Committee to write a draft law for the sales tax
» Mawazine News publishes the text of the Cabinet decisions in its second session today
» Al-Sudani chairs the regular meeting of the Board of Directors of the Iraq Development Fund
» Dollar prices fall in Baghdad stock exchanges
» Al-Sudani Advisor: The Ministry of Finance is preparing the 2025 budget tables
» New Cabinet decisions, including those related to “Iraqis deported” from abroad
» List of dollar exchange rates against the dinar in Iraq today
» Ranked 29th out of 100 countries, Iraq raises its gold holdings to more than 152 tons
» The Bank of Iraq extends working hours to complete money transfer transactions
» Central Bank Governor: National Bank Lending Strategy Aims to Stimulate and Activate Economy
» utube 10/5/24 MM&C Iraqi Dinar Update - Iraq Dinar News -World Bank - Report - Central Bank Govern
» MM&C 10/6/24 Digital Banks in Iraq
» Kurdistan employees' salaries due to arrive within three days from Baghdad
» Revealing the features of the 2025 budget tables
» Campaign to stop exporting Iraqi oil to Jordan
» Makkah: Climate investment map may be launched within two months
» Trade: Iraq transformed from a wheat importer to an exporter
» "Our Baghdad" is an electronic platform that provides 25 services to citizens
» 40 - 100 million dinars fine for violating vertical construction
» Closure of 400 “unlicensed” tourism companies
» Speculators
» Minister of Trade to Al-Sabah: We are working to achieve food sustainability in Iraq
» Parliamentary Security: Our forces are ready to defend the country
» Iraq mobilizes the world to stop aggression
» Fines for owners of vertical buildings in violation
» Tourism Authority to {Al Sabah}: Concluding agreements with Arab and regional countries
» Prime Minister directs to pursue speculators in the currency market
» Launching the e-shopping service for social protection beneficiaries
» Civil Aviation and Sustainable Resources
» The Ministerial Council recommends adopting a schedule of values and rates of customs duties for m
» The Iraqi government rejects the accusations of treason directed at Arab brothers and insulting them
» The Council of Ministers holds its first regular session, headed by Al-Sudani
» Trade Bank of Iraq addresses Iraqis: Here is the mechanism for donating to Gaza and Lebanon
» BP in talks to invest in 3 oil projects in Iraq
» In the presence of a number of European Union ambassadors.. Minister of Migration chairs an importan
» After Al-Sudani’s message... “Roadmap” for Iraq to avoid the repercussions of Gaza and southern Leba
» American newspaper: The United States will not withdraw from Iraq
» What is the relationship between regional tension and the rise of the dollar in Iraq?
» "Cancellation of Iraqi privileges granted to Jordan" on the table of Parliament next session
» Oil expert to Al-Zawraa: OPEC counts smuggled oil from Iraq as part of its daily production
» Palestinian Ambassador Thanks Iraq for Political, Financial and Humanitarian Support to His Country
» With a $3 million grant… Iraq and the United Nations sign the “Peace and Stability” document in Sinj
» Baghdad Governor reveals population increase and confirms: Explosive budgets will not cover service
» Al-Sudani directs the prosecution of speculators who exploit crises in the region to manipulate the
» The fate of the three-year budget is unclear: most of the allocations have not been spent and Parlia
» Economist calls on government, confirms: Flaring associated gas costs state billions of dollars
» Al-Karkh Investigation Court issues arrest warrant against acting head of the Integrity Commission,
» Emirates resumes flights to Iraq tomorrow
» Water Resources: Basra Pipeline Water Project continues to be implemented at 55%
» Al-Sudani directs the formation of a working group to prepare packages to deal with the economic and
» Government Advisor: Release of 99 billion dinars as a new payment of compensation to Sinjar
» Foreign Minister Fuad Hussein invites his British counterpart to visit Iraq
» What are the reasons for the rise in the dollar price in Iraq? A specialist answers
» How did social media users react to the decision to include household items in the population census