(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.
MENAFN0308201700450000ID1095686951
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.