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FINANCIAL NEWS
Iraq to raise USD2bn on global debt markets
02 Oct 2016
(MENAFN) Iraq aims to raise USD2bn on global debt markets to help fill a budget gap made by low oil prices were thwarted this week by the US.
Accordingly, the country seeks to issue USD1bn bond guaranteed by the US in order to lower borrowing costs before issuing another USD1bn.
In addition, funds would complement a three-year USD5.34bn standby loan, which the IMF confirmed in July in exchange for economic reforms.
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