Ali: global bond contribute to addressing the deficit by small

Ali: global bond contribute to addressing the deficit by small


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Ali: global bond contribute to addressing the deficit by small

30-08-2015 03:55 PM

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Financial experts and parliamentarians from the negative effects of the Iraq plan to issue international bonds worth six billion dollars after fears that the Iraqi Central Bank revealed that it will use global to banks in order to do so.


This is the first time that Iraq carried out by such a move a decade ago to reduce the worsening fiscal deficit suffered by size.


But some specialists are demanding that Iraq shall issue internal bonds instead of international bonds for fear of being international pressure, as others likely that this procedure be weak impact on reducing the fiscal deficit. Emphasizes economic Shahabuddin Ali expert that the version of Iraq international bonds denominated in dollars for five years' will contribute to addressing the budget deficit by small and not fully in the current budget."He explained that the economic difficulties experienced by Iraq, now come on the back of lower sale of crude oil prices globally, which caused disruption of the budget in general.



He pointed out that Iraq needs to sell a barrel of oil at $ 100.60 to achieve financial stability for the upcoming budget for next year.


The Central Bank of Iraq has announced in a press release a week ago that "the Iraqi government has identified both the Citigroup Foundation for banking services, the bank Deutsche Bank with JP Morgan US banking services for use in the issuance of international bonds worth six billion dollars'.


He explained that the 'bond program will be in the form of payments, it will be offered for sale during the first of the current year 2015'.


Iraq is seeking, who boasts the fifth-largest oil reserves in the world to strengthen their financial abilities amid difficult challenges represented by the circle in the country's war against al-Islamic state in conjunction with the sharp drop in world oil prices.


Financial experts in the matter and is expected to reach the fiscal deficit ratio in Iraq through 2015, about 10% of GDP because of the collapse of oil prices with high military effort expenses associated with the deterioration of the security situation in the country.




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Fears of the issuance of international debt securities Iraq






Saturday 14/11/1436 e - corresponding to 08/29/2015 AD (updated) 18:46 pm (Mecca), 15:46 (GMT)




Abdullah al-Rifai Basra



Financial experts and parliamentarians from the negative effects of the plan fear [You must be registered and logged in to see this link.] to issue [You must be registered and logged in to see this link.] international worth six billion dollars after the Iraqi Central Bank revealed that it will use global to banks in order to do so.

This is the first time that Iraq carried out by such a move a decade ago to reduce the worsening fiscal deficit suffered by size.

But some specialists are demanding that Iraq shall issue internal bonds instead of international bonds for fear of being international pressure, as others this procedure is likely to be a weak impact on reducing the fiscal deficit.

Plug
and confirms the economic Shahabuddin Ali expert to issue Iraq-denominated international bonds [You must be registered and logged in to see this link.] for five years, "will contribute to addressing the budget deficit by small and not fully in the current budget."

He explained in his interview of the island revealed that the economic difficulties experienced by Iraq, now come on the back of lower sale of crude oil prices globally, which caused disruption of the budget in general.

He pointed out that Iraq needs to sell a barrel of oil at $ 100.60 to achieve financial stability for the upcoming budget for next year.

The Central Bank of Iraq has announced in a press release a week ago that "the Iraqi government has identified both the Citigroup Foundation for banking services, the bank Deutsche Bank with JP Morgan US banking services for use in the issuance of international bonds worth six billion dollars."

He explained that "the bond program will be in the form of payments, will be offered for sale during the first of the current year 2015".

Iraq is seeking, who boasts the fifth-largest oil reserves in the world to strengthen their financial abilities amid difficult challenges represented by the war department in the country against [You must be registered and logged in to see this link.] in conjunction with the sharp drop in world oil prices.

Financial experts in the matter and is expected to reach the fiscal deficit ratio in Iraq through 2015, about 10% of [You must be registered and logged in to see this link.] because of the collapse of oil prices with high military effort expenses associated with the deterioration of the security situation in the country.

Risks
and confirmed member of the Finance Committee parliamentary MP Haitham al-Jubouri, the government's reliance on the need to support the issuance of a national rather than global bonds may weigh heavily on the state in the future.

Jubouri said the island revealed that "any reliance on international bond will display the future of the Iraqi economy and the threat of international pressure, especially that the future of oil prices Anonymous".

He added that "The government should work to reduce the budget deficit by relying on the issuance of bonds to the public the Iraqi government guarantees," referring to the importance of encouraging voluntary savings for citizens and benefit from the Iraqi capital inside and outside the country.

Jubouri believes that the fall in oil prices poses a significant threat to the Iraqi economy being dependent on the sale of crude revenues.

He explained, "We are now in a crisis and greater deterioration of prices, especially as we are at war on the organization of the Islamic state, and these need to expenses and budget and financial support stable, Reduced prices affect the war situation and standard of living."






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