Zebari: Iraq aspires to obtain a sovereign rating of the bonds worth five billion dollars

[yota691]

Zebari: Iraq aspires to obtain a sovereign rating of the bonds worth five billion dollars

History of edits:: 4.30.2015 seventeen past four p.m. • 24 visits readable

[Follow-where] 
Finance Minister Hoshyar Zebari said Thursday that Iraq was seeking sovereign rating continues with credit rating agencies as it prepares to issue bonds worth whopping five billion dollars needed to cover the financial deficit caused by low oil prices.

Zebari said in a press statement, "We started the process and that the banks are also seeking to help us in this direction," without having to disclose the date on which it is expected to complete the process. 
Iraq has announced that it will issue bonds worth five billion dollars in the first issued in the international bond market in nine years and is in dire need of liquidity as the government predicted that this year's deficit up to about 25 percent of the size of the budget of 100 billion dollars. 
The access to the sovereign rating of the Agency major credit which lacks him Iraq currently may help persuade the global fund managers International banks in underwriting bonds. 
Zebari said that "Iraq is seeking to connect with two or three credit rating agencies" without unnamed but Iraq discusses the issuance of bonds with the City Plan and Bank Deutsche Bank. 
The process of obtaining the credit rating may be sensitive for Iraq as it will be forced to open its books to these institutions and reveals new information on the public finances. 
It is expected to attract Iraq's oil reserves huge -alta did not reach them Daash- buyers for this proposal, but many fund managers believe that Baghdad would face difficulty in the sale of five billion dollars in a short period Even if the pricing generous. 
In response to whether the number five billion to be very ambitious Finance Minister Hoshyar Zebari, "We have a budget commitment to issue six billion law, so this is the minimum, and this is our plan to cover the deficit, but there is no way to be issued in a single chip . " 
In addition to the issuance of international bonds has taken Iraq or planning to take other financial measures, including the issuance of bonds in local currency to the banks and the imposition of taxes on some consumer goods and cut salaries in the public sector, it will also discuss a request for assistance from the International Monetary Fund. 
The Iraq plans to request emergency funding worth 400 million dollars to 700 million dollars from the International Monetary Fund at the time of going through the country in a state of fiscal austerity and a crisis in the provision of cash called on the government to think about and study to extend the payment of staff salaries period to forty days instead of a month and the imposition of numerous taxes to cover the deficit in Almoisnh.anthy

 

[skeetdog]

Thanks Yota...Aint it craaazzzyy how flat currency works...

[yota691]

Finance Minister: Iraq is seeking to obtain a sovereign rating

30/04/2015 04:21 | Number of Views: 28

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BAGHDAD / Source News / .. Finance Minister Hoshyar Zebari, on Thursday, that his country is seeking a sovereign rating and continue with the credit rating agencies as it prepares to issue huge bonds worth five billion dollars needed to cover the budget caused by lower oil prices deficit.

Zebari said in an interview I followed Agency / Source News / "We started the process, banks are also seeking to help us in this direction."

Iraq has announced that it will issue bonds worth five billion dollars in the first issued in the international bond market nine years ago, in particular, and he desperately needed to liquidity as the government predicted that this year's deficit up to about 25 percent of the budget of 100 billion dollars, almost the size.

And obtain a sovereign rating from a major credit agency which Iraq currently lacks him may help persuade the international fund managers and international banks in underwriting bonds.

Zebari said that "Iraq is seeking to connect with two or three credit rating agencies, but he did not identify, discuss Iraq and bond issuance plan with City Bank and Deutsche Bank."

The process of obtaining the credit rating may be sensitive for Iraq as it will be forced to open its books to these institutions reveals revealed new information on public finances. 

Zebari did not disclose the date on which it is expected to complete the process.

It is expected to attract Iraq's oil reserves huge -alta it did not reach the hands of Daash- buyers for this offering. 

But many fund managers believe that Baghdad would face difficulty in the sale of five billion dollars in a short period even if the generous pricing.

In response to whether the number five billion to be very ambitious, Zebari said "We have a commitment in the budget to issue six billion, so this is the minimum this is our plan to cover the deficit, but there is no way to be issued in a single chip." 

Iraq has an existing issue of dollar bonds maturing in 2028 and prompted a wave of panic selling late last year with the erosion of oil prices return on these bonds to rise to a record high of 10.49 percent from about 7.2 percent in September. But the yield has since tumbled to 8.04 percent.

In addition to the issuance of international bonds Iraq has taken or plans to take other financial measures, including the issuance of bonds in local currency to the banks and the imposition of taxes on some consumer goods and reduce public sector salaries Fifi, also asked the help of the IMF Ata.anthy Looking T.

 

Iraq seeks to Mali sovereign rating

Lower oil prices hit the Iraqi budget deficit.

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Thursday, April 30, 2015 - 16:57 GMT Abu Dhabi 

Abu Dhabi - Sky News Arabic

Iraqi Finance Minister, Hoshyar Zebari, said Thursday that his country is seeking a sovereign rating, and continue with the credit rating agencies.

He added that Iraq is preparing to issue huge bonds worth five billion dollars, are required to cover the budget deficit caused by low oil prices.

Zebari told Reuters in a telephone interview, "We started the process. Banks also seek to help us in this direction."

The Iraqi government has announced its intention to issue bonds worth five billion dollars, in the first issue in the international bond market nine years ago.

Iraq and in dire need of liquidity, as the government is expected to reach the deficit this year to about 25 percent of the budget of almost $ 100 billion in size.

And obtain a sovereign rating from a major credit agency, which is currently lacking in Iraq, may help persuade the international fund managers and international banks in underwriting bonds.

 

Iraq is seeking to obtain a sovereign rating before issuing bonds huge

 

04/30/2015 16:47:00

 

 

 

 

 

 

      

Hoshyar Zebari

 

 Finance Minister Hoshyar Zebari said on Thursday that his country is seeking a sovereign rating and continue with the credit rating agencies, as they prepare to issue huge bonds worth five billion dollars needed to cover the budget deficit caused by low oil prices. 
Zebari told Reuters in a telephone interview, "We started the process. Banks also seek to help us in this direction. " 
Iraq has announced that it will issue bonds worth five billion dollars in the first issued in the international bond market nine years ago.And Iraq in dire need of liquidity as the government predicted that the deficit this year to about 25 percent of the budget of $ 100 billion roughly the size. 
and obtain a sovereign rating agency major credit which lacks him Iraq now may help persuade the global funds, international banks managers in underwriting bonds. 
Zebari said that Iraq is seeking to connect with two or three credit rating agencies, but he did not name. Iraq and discusses the bond issuance plan with City Bank and Deutsche Bank. 
The process of obtaining the credit rating may be sensitive for Iraq as it will be forced to open its books to these institutions and reveals unveil new information on public finances. Zebari did not disclose the date on which it is expected to complete the process. 
It is expected to attract Iraq's oil reserves huge -alta it did not reach the hands of the terrorist organization Daash, buyers for this offering. But many fund managers believe that Baghdad would face difficulty in the sale of five billion dollars in a short period even if the pricing generous. 
In response to whether the number five billion to be very ambitious, Zebari said, "We have a budget commitment to issue six billion. Thus this is the minimum This is our plan to cover the deficit. But there is no way to be issued in a single chip. " 
Iraq has issued existing dollar bonds, maturing in 2028 and prompted a wave of selling panicked late last year with the erosion of oil prices, the yield on these bonds to rise to a record level at 10.49 percent from about 7.2 percent in September. But the yield has since tumbled to 8.04 percent. 
In addition to the issuance of international bonds has taken or plans to take Iraq and other financial measures, including the issuance of bonds in local currency to the banks and the imposition of taxes on some consumer goods and cut salaries in the public sector. A request for assistance from the International Monetary Fund as looking. PUKmedia

[Wiljor]

Boy, after reading this it sure sounds like they are going to do a lot of borrowing over the next while, especially the last paragraph,

"The Iraq plans to request emergency funding worth 400 million dollars to 700 million dollars from the International Monetary Fund at the time of going through the country in a state of fiscal austerity and a crisis"

Why use your own money when you can use everyone elses, and cheap, almost free.

Thanks Yota and good morning

[yota691]

Zebari: Iraq seeks to Mali sovereign rating

04:14: 04/30/2015

 

Khandan - Finance Minister Hoshyar Zebari, Iraq is seeking sovereign rating continues with credit rating agencies as it prepares to issue huge bonds worth five billion dollars needed to cover the budget deficit caused by low oil prices. He said Zebari told Reuters "We started the process. Banks also seek to help us in this direction. " Iraq has announced that it will issue bonds worth five billion dollars in the first issued in the international bond market nine years ago. and get the sovereign rating of the Agency major credit which lacks him Iraq now may help persuade global funds, international banks managers in underwriting bonds. Zebari said that Iraq is seeking to connect with two or three credit rating agencies, but he did not name. discusses Iraq bond issuance plan with (Citibank) and (Deutsche Bank). The process of getting a credit rating may be sensitive for Iraq as it will be forced to open its books to these institutions and reveals unveil new information on public finances. Zebari did not disclose the date on which it is expected to complete the process. In response to whether the number five billion to be very ambitious, Zebari said, "We have a budget commitment to issue six billion. Thus this is the minimum this is our plan to cover the deficit. But there is no way to be issued in the slice one. "

[DinarThug]

Here's A Highlighted Version - Thx Brother Yota !

 

       

 

 

 

(by walkingstick)

Finance Minister: Iraq is seeking to obtain a sovereign rating
30/04/2015 04:21 |

BAGHDAD / Source News / .. Finance Minister Hoshyar Zebari, on Thursday, that his country isseeking a sovereign rating and continue with the credit rating agencies as it prepares to issue huge bonds worth five billion dollars needed to cover the budget caused by lower oil prices deficit.

Zebari said in an interview I followed Agency / Source News / "We started the process, banks are also seeking to help us in this direction."

Iraq has announced that it will issue bonds worth five billion dollars in the first issued in the international bond market nine years ago, in particular, and he desperately needed to liquidity as the government predicted that this year's deficit up to about 25 percent of the budget of 100 billion dollars, almost the size.

And obtain a sovereign rating from a major credit agency which Iraq currently lacks him may help persuade the international fund managers and international banks in underwriting bonds.

Zebari said that "Iraq is seeking to connect with two or three credit rating agencies, but he did not identify, discuss Iraq and bond issuance plan with City Bank and Deutsche Bank."

The process of obtaining the credit rating may be sensitive for Iraq as it will be forced to open its books to these institutions reveals revealed new information on public finances. 

Zebari did not disclose the date on which it is expected to complete the process.

It is expected to attract Iraq's oil reserves huge -alta it did not reach the hands of Daash- buyers for this offering. 

But many fund managers believe that Baghdad would face difficulty in the sale of five billion dollars in a short period even if the generous pricing.
In response to whether the number five billion to be very ambitious, Zebari said "We have a commitment in the budget to issue six billion, so this is the minimum this is our plan to cover the deficit, but there is no way to be issued in a single chip." 

Iraq has an existing issue of dollar bonds maturing in 2028 and prompted a wave of panic selling late last year with the erosion of oil prices return on these bonds to rise to a record high of 10.49 percent from about 7.2 percent in September. But the yield has since tumbled to 8.04 percent.

In addition to the issuance of international bonds Iraq has taken or plans to take other financial measures, including the issuance of bonds in local currency to the banks and the imposition of taxes on some consumer goods and reduce public sector salaries Fifi, also asked the help of the IMF Ata.anthy Looking T.

http://l-news.net/index.php/economy/78237.html

[k98nights]

 

Zebari: We seek to get the sovereign rating and the issuance of bonds by five billion dollars

 

Editor Ali Jasim - Thursday April 30 2015 17:45

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Alsumaria News / Baghdad  
announced Finance Minister Hoshyar Zebari , on Thursday, for the pursuit Iraq to obtain the sovereign rating and communicate with the credit rating agencies, noting that it was preparing to issue huge bonds worth five billion dollars to cover the fiscal deficit. Zebari said in remarks reported by " Reuters "that" Iraq seeking sovereign rating and continue with the credit rating agencies, "explaining that" seeks to connect with two or three credit rating agencies. "

 

Zebari said that "Iraq is preparing to issue huge bonds worth five billion dollars needed to cover the budget caused by lower oil prices deficit," noting "We started the process of banks is also seeking to help us in this direction." And on the fund managers believe that Baghdad would face difficulty in the sale of five billion dollars Shortly, the finance minister stressed that "we have in the budget commitment to issue six billion, so this is the minimum, and this is our plan to cover the deficit," adding, "But there is no way to released in a single chip." It is said that Iraq's existing dollar-denominated bond issue worth in 2028 and prompted a wave of panic selling late last year with the erosion of oil prices, the yield on these bonds to rise to a record high at 10.49% from about 7.2% in September but the yield has since tumbled to 8.04%.

 

http://www.alsumaria.tv/news/132676/%D8%B2%D9%8A%D8%A8%D8%A7%D8%B1%D9%8A-%D9%86%D8%B3%D8%B9%D9%89-%D9%84%D9%84%D8%AD%D8%B5%D9%88%D9%84-%D8%B9%D9%84%D9%89-%D8%AA%D8%B5%D9%86%D9%8A%D9%81-%D8%B3%D9%8A%D8%A7%D8%AF%D9%8A-%D9%88%D8%A5%D8%B5%D8%AF%D8%A7/ar

[yota691]

Zebari: We seek to get the sovereign rating and the issuance of bonds by five billion dollars

 
 
Editor Ali Jasim - Thursday April 30 2015 17:45

 

 
Alsumaria News / Baghdad 

announced Finance Minister Hoshyar Zebari , on Thursday, for the pursuit Iraq to obtain the sovereign rating and communicate with the credit rating agencies, noting that it was preparing to issue huge bonds worth five billion dollars to cover the fiscal deficit. Zebari said in remarks reported by " Reuters "that" Iraq seeking sovereign rating and continue with the credit rating agencies, "explaining that" seeks to connect with two or three credit rating agencies. "
 
 

Zebari said that "Iraq is preparing to issue huge bonds worth five billion dollars needed to cover the budget caused by lower oil prices deficit," noting "We started the process of banks is also seeking to help us in this direction." And on the fund managers believe that Baghdad would face difficulty in the sale of five billion dollars Shortly, the finance minister stressed that "we have in the budget commitment to issue six billion, so this is the minimum, and this is our plan to cover the deficit," adding, "But there is no way to released in a single chip." It is said that Iraq's existing dollar-denominated bond issue worth in 2028 and prompted a wave of panic selling late last year with the erosion of oil prices, the yield on these bonds to rise to a record high at 10.49% from about 7.2% in September but the yield has since tumbled to 8.04%.





 

 Zebari: Iraq is preparing to issue huge bonds worth five billion dollars
Economic
 Since 04/30/2015 19:07 pm (Baghdad time)

Baghdad scales News
Finance Minister Hoshyar Zebari, on Thursday, Iraq sought to obtain a sovereign rating and communicate with the credit rating agencies, noting that it was preparing to issue huge bonds worth five billion dollars to cover the fiscal deficit.
Zebari said in remarks reported by "Reuters", that "Iraq is seeking to obtain a sovereign rating and continue with the credit rating agencies," explaining that "seeks to connect with two or three credit rating agencies."
Zebari said that "Iraq is preparing to issue huge bonds worth five billion dollars needed to cover the budget caused by the inability of lower oil prices," noting "We started the process of banks is also seeking to help us in this direction."
And on the fund managers believe that "Baghdad will face difficulty in the sale of five billion dollars in a short period, the finance minister stressed that" we have in the budget commitment to issue six billion, so this is the minimum, and this is our plan to cover the deficit, "adding," But there is no way to released in single chip. "
It is said that "Iraq's existing dollar-denominated bond issue maturing in 2028 and prompted a wave of selling panicked late last year with the erosion of oil prices, the yield on these bonds to rise to a record high at 10.49% from about 7.2% in September but the yield has since tumbled to 8.04% ". ended / 29 / d 24

[yota691]

Iraq is seeking to obtain a sovereign rating

05/01/2015 09:59

 The Iraqi government will continue with the international credit rating agencies in order to obtain a sovereign rating before you issue a huge bonds worth $ 5 billion. Iraq has announced that it will issue bonds worth $ 5 billion in the first issued in the international bond market nine years ago, it aims to cover the budget deficit caused by low oil prices. In the case of Iraq managed to get the sovereign rating of the Agency major credit, it may help to convince the global funds, international banks and managers in the underwriting bonds. discusses Iraq bonds with issuance plan "Citibank" and " Deutsche Bank ". He said Finance Minister Hoshyar Zebari Thursday, April 30th / April: "We started the process .. banks are also seeking to help us in this direction," adding that his country is seeking to connect with two or three credit rating agencies. and Iraq in dire need of liquidity The government predicted that this year's deficit up to about 25% of the budget of almost $ 100 billion in size. The Iraqi government will be forced to obtain a credit rating, to open their books in front of these institutions and the disclosure of new information on its public finances. 

[yota691]

Business | Thu Apr 30, 2015 11:56am BST

Related: BUSINESS, MIDDLE EAST

Exclusive - Iraq seeks credit rating before jumbo bond issue

DUBAI | BY HADEEL AL SAYEGH

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Iraq's Finance Minister Hoshiyar Zebari speaks during a news conference in Baghdad February 26, 2015.

REUTERS/KHALID AL-MOUSILY

 

(Reuters) - Iraq plans to obtain a sovereign credit rating and is approaching rating agencies as it prepares for a jumbo $5 billion (£3.2 billion) bond issue needed to cover a budget deficit caused by low oil prices, its finance minister said on Thursday.

"We started the process," Hoshiyar Zebari told Reuters by telephone. "The banks are also trying to help us in that direction.”

Iraq has said it will issue $5 billion of debt in its first international bond sale for nine years. Its need for cash is acute; the government has projected a budget deficit of about $25 billion this year, in a budget of roughly $100 billion.

Obtaining a credit rating from a major agency, which Iraq currently lacks, could help to persuade global fund managers and banks to subscribe to the issue.

Zebari said Iraq was trying to approach two or three rating agencies, which he did not name. It has been discussing its bond issue plan with Citibank and Deutsche Bank.

The process of obtaining a credit rating could be a delicate one for Iraq, requiring it to open its books to the agencies and disclose new information on its finances. Zebari did not say when he expected the process to be completed.

Iraq's huge oil reserves in its southern fields, which have not been touched by the Islamic State insurgency, are expected to draw buyers to its bonds. But many fund managers think it would struggle to sell $5 billion in a short space of time, even with generous pricing.

Asked if $5 billion was too ambitious, Zebari said: "We have in the budget a commitment to issue $6 billion. So this is the low - this is how we plan to cover our deficit. But there’s no way we can do it in one tranche.”

Iraq has an outstanding U.S. dollar bond maturing in 2028 462652AA6=; panic selling late last year as oil prices plunged pushed its yield to a record high of 10.49 percent from around 7.2 percent in September, but it has since dropped back to 8.04 percent.

Iraqi five-year credit default swaps IQGV5YUSAC=MP, used to insure against any sovereign default, are at 539 basis points, near their highest levels since late 2009.

In addition to the international bond issue, Iraq has introduced or is planning other fiscal measures including a local currency bond issue to banks, taxes on some consumer goods and public wage cuts. It has also been considering whether to ask for aid from the International Monetary Fund.

[rbh]

But many fund managers believe that Baghdad would face difficulty in the sale of five billion dollars in a short period even if the generous pricing

Another reason to just "Git er done"!

[skeetdog]

Why not announce the RV now and make the CBI the hero...and ride that wave to build trust in the bankin' sector...Iraq's lookin' for a credit-rating...Well announce the RV at .85 or even with the dollar....All that destruction...someone will want to buy some equipment to start re-buildin' the war-torn country or the farmers that'll been eyein' a modern tractor to plow his fields, Mama wants a new house, car(s) and all those damn shoes...Let those credit-ratin' boyz try to keep up with the worth of the dinar...Then set back an wait for the credit-rating to establish the actual worth of the dinar...When those same dinars that are on the books for a Buck are now worth a Buck and a half...Then the high-roller are turned lose in the industrial, agricultural and domestic sectors... 

[SgtFuryUSCZ]

***///

 

SKEETer should be Iraq's next Minister of Finance !   

[Wiljor]

Why not announce the RV now and make the CBI the hero...and ride that wave to build trust in the bankin' sector...Iraq's lookin' for a credit-rating...Well announce the RV at .85 or even with the dollar....All that destruction...someone will want to buy some equipment to start re-buildin' the war-torn country or the farmers that'll been eyein' a modern tractor to plow his fields, Mama wants a new house, car(s) and all those damn shoes...Let those credit-ratin' boyz try to keep up with the worth of the dinar...Then set back an wait for the credit-rating to establish the actual worth of the dinar...When those same dinars that are on the books for a Buck are now worth a Buck and a half...Then the high-roller are turned lose in the industrial, agricultural and domestic sectors...

Wow Skeet, that bout raps it up my friend, Im in, tell where to sign.

[millionaire in training]

Sounds like a plan Skeet..........

[djiboutikid]

I'm not sure where to post questions for Adam, but I have to wonder, would these be a 'good investment'? I'm looking forward to having money to invest after the rv and am curious if this is one of the 'good' ideas for investing back into Iraq?