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FINANCIAL NEWS
Iraq government to issue USD5b domestic bond offering
08 Jul 2015
(MENAFN) Iraq’s government is set to issue local USD5 billion bonds in the fourth quarter of the year, hoping to reduce the impact of low oil prices over its funds, according to a former official from the central bank, Reuters reported.
The bonds enjoy maturities of between 12 and 18 months and are set to refinance the budget deficit and are available for domestic banks, institutions and other retail investors, the official added.
“It gives a unique opportunity to a group of investors who are cash-rich and essentially hoarders. We think there will be good demand for investment,” he said.
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