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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

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    Economic parliamentary: The government plans to issue sovereign bonds worth $ 2 billion first meal

    day dreamer
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    • Post n°1

    Economic parliamentary: The government plans to issue sovereign bonds worth $ 2 billion first meal Empty Economic parliamentary: The government plans to issue sovereign bonds worth $ 2 billion first meal

    Post by day dreamer Tue 24 Nov 2015, 5:49 pm

    11/25/2015 (00:01 pm) -




    [ltr]Economic parliamentary: The government plans to issue sovereign bonds worth $ 2 billion first meal [/ltr]


     BAGHDAD / Noor Ali - Ibrahim Ibrahim

    [ltr]Announced for the economic and investment commission in Parliament, on Tuesday, the determination of the Iraqi government's international bond issue worth $ 2 billion, to bridge the budget deficit, while confirming that Iraq's total debt amounted to $ 56 billion, while economists said, the move will fill a little part of the deficit. The Commission said the economy and investment parliamentary Najiba by Najib in an interview for the "long" that "the government needed money and liquidity to meet the needs of the war against Daash, as well as displaced persons files, so they are determined to issue estimated at two billion dollars, after the international bond was up 7 Billion dollar".

    He added that "as a result of the current credit rating and that the consequent increase in the interest rate, has reduced these amounts to up to $ 2 billion, to cover the deficit resulting from the increased expenditures."[/ltr]
    [ltr]She stressed Najib "The foreign debt owed by the government amounted to $ 13 billion and 761 million, while international claims which are now under litigation, estimated at $ 41 billion, meaning that the total debt stood at about $ 56 billion, with the exception of interior, foreign loans and debt" .[/ltr]
    [ltr]And it showed, that "there are loans estimated at $ 15 billion, including $ 6 billion for the State of Japan, in addition to loans from the International Monetary Fund and the Organization of the World Bank."[/ltr]
    [ltr]She noted that "These loans are a negative case, but the government is forced to borrow, even if we were not at war, we of rejectionists against the government directed towards debt, because the state debt burden weigh-ins."[/ltr]
    [ltr] In turn, the economic expert on behalf of Jamil Antoine said in an interview for the "long" that "there is a deficit of 23 trillion dinars, and this deficit will be financed from many sides, the inner and outer Kalaguetrad, and can not be covered from a single source." "The $ 2 billion will fill a little part of the accumulated deficit ratio, but provides little on borrowing and debt, but the destitute, but does not have another port for other government." Antoine explained that "in spite of the instructions issued by the Presidency of the Council of Ministers to internal sources of financing, to cover this deficit, but it is Atsd little to limited its potential."[/ltr]
    [ltr] He noted that "despite the heavy burden of borrowing, but it is absolutely imperative, and will fill part of the shortage to a certain stage, until the creation of the Iraqi economy, and find other solutions less serious."[/ltr]
    [ltr] And pushed the financial crisis, taking place in Iraq months ago, the Iraqi government, and in cooperation with the Central Bank, to issue treasury bonds worth $ 7 billion to pay off part of the debt of foreign oil companies operating in the country.  The Ministry of Finance announced on Monday (6/15/2015), the ministerial delegation government negotiates in the Turkish city of Istanbul for the sovereign government bond issuance in the global financial market, as pointed out that the delegation held meetings with international companies to determine Iraq's credit rating in the capital market Global.[/ltr]
    [ltr]The ministry said in a statement received (long-Presse) a copy of it, "The Iraqi delegation includes Finance Minister Hoshyar Zebari and Oil Minister Adel Abdul Mahdi and Planning Minister Salman Jumaili and the Governor of the Central Bank on the Keywords and Adviser to the Prime Minister for Economic Affairs appearance of Mohammed Saleh and senior advisers and experts ministries involved and the Central Bank We arrived in Turkey to negotiate a sovereign government bond issuance in the global financial market. "[/ltr]
    [ltr]For his part, economist Mohammed Abdul Latif al-Ani, in an interview for the "long", that "the Iraqi government to issue global bonds a good move if it were sold during the short period of time not exceeding three months."[/ltr]
    [ltr] "The time factor is considered the most pressure on the government in the face of financial Haunted, in addition to the slump in global markets due to changes in oil prices during the past two years."[/ltr]
    [ltr] Ani said that "the 2016 budget will be the harshest This is apparent in accordance with the accumulated deficit, which up to one-third of the amount of the proportion of the budget."[/ltr]
    [ltr] He said the "sovereign bonds always issue poses in a period of economic prosperity, to strengthen the financial aspects of the state and strengthening the national currency value abroad, but put forward during the financial crisis is considered the last step because the nations of the world look at Iraq's economy out of weakness, which could lead to a lack of sale bonds according to international regulations sober. "[/ltr]
    [ltr]It is said that the budget law for 2015 has authorized the government to issue sovereign government bonds by seven trillion dinars to cover the fiscal deficit in the budget.[/ltr]
    [ltr]It is noteworthy that Iraq is facing a deepening financial crisis, as a result of the decline in world oil prices nearly 60 percent compared to last summer, and the repercussions of the war against (Daash).[/ltr]

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