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FINANCIAL NEWS
Iraq starts marketing USD1bn bond, first global debt issuance
03 Aug 2017
(MENAFN) Iraq started marketing an USD1bn bond, its first global debt issuance as a standalone credit since 2006 and an aim to put decades of turmoil behind it.
Meanwhile, the bond was aiming to tempt emerging market investors with alluring profits to offset concerns over a history of war and the recent rise of militant group IS.
The country issued USD1bn in bonds last Jan, while that offering was 100 percent guaranteed by the U.S. government.
Moreover, Iraq needs external financing in order to plug a widening budget deficit which lowers oil prices since 2014 and the slow pace of much needed fiscal reforms.
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MENAFN0308201700450000ID1095686951
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