Iraq plans to issue bonds in local currency for the first time since the overthrow of Saddam

[yota691]

Iraq plans to issue bonds in local currency for the first time since the overthrow of Saddam

 

14.11.2013 | (Voice of Iraq) - Add a comment - 

 

BAGHDAD / Aswat al-Iraq: Abdul Basit Turki Saeed Governor of Central Bank of Iraq, said that Iraq plans to issue bonds in local currency for the first time since the overthrow of Saddam Hussein's regime which would allow the country's new tool of monetary policy, according to the agency (Reuters) news agency. 

told Said Reuters On the sidelines of a conference in Geneva that the first tranche of bonds is expected to be worth three billion Iraqi dinars (2.58 million U.S. dollars) (Dollar = 1165.000 Iraqi dinars). 

, adding that this would be the first time that being a bond issue for fiscal policy and not for the purpose funding. 

Said he expected that the first version of the new bonds will give a good response has been followed by more versions and that the total volume of the issue will depend on demand. 

would increase for the bonds for five years and hopes the central bank to issue the first tranche before the end of the year, despite that the decision on this will be made ​​with the participation of the Ministry of Finance. 

Said The bond interest is expected to be less than the interest rate the standard of the Central Bank amounting to 6 percent. 

added that the inflation rate in Iraq is 2 percent describing it as No. rare and very good. 

said there were no plans to issue international bonds, despite that might happen in the future if there are ambitious plans for the development of needed funding. 

m e (x)

 

 

[gregp]

Before the end of the year. Thanks.

[sandfly]

THANKS