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06-15-2015, 08:38 PM
A government delegation arrives to Turkey and is negotiating with international banks to issue sovereign bonds

By Mohammed Emad 6.15.2015

Brother - Baghdad
Iraqi government delegation comprising a number of ministers, arrived in Turkey to negotiate with international banks to issue sovereign bonds.
A statement by the Ministry of Finance, on Monday, received for News Agency (et) a copy of "The ministerial delegation of government included Finance Minister Hoshyar Zebari, and Oil Minister Adel Abdul-Mahdi, and the Minister of Planning Salman Jumaili, as well as the Governor of the Central Bank on the Keywords, Advisor to the Prime Minister Economic Affairs appearance of Mohammed Saleh, as well as senior advisers and experts participating ministries and the central bank, arrived yesterday evening, to the city of Istanbul to discuss the final stages in the process of sovereign government bond issuance in the global financial market (http://search.barnesandnoble.com/Art-of-the-Deal/Noah-Horowitz/e/9781400836444). "

"The delegation began meetings with representatives of international banks, Citibank, JP Morgan andDeutsche Bank, to review the financial and economic, political and security on the Iraq report, as well as with the international law office of Iraq."
He explained that "the delegation is scheduled to meet also with the two International Tribunals credit rating, and Fitch Modiner in order to determine Iraq's credit rating in the international capital market."

The Finance Minister, Hoshyar Zebari, said in 30 of last April, said that Iraq was seeking sovereign rating and continue with the credit rating agencies, as it prepares to issue huge bonds worth five billion dollars needed to cover the financial deficit caused by low oil prices.

Iraq has announced an earlier time, it will issue bonds worth five billion dollars in the first issued in the international bond market nine years ago, it also in dire need of liquidity as the government predicted that the deficit this year to about 25 percent of the budget of 100 size almost one billion dollars.
It is said that, the budget law for 2015 authorized the government to issue sovereign government bonds by seven trillion dinars to cover the fiscal deficit in the budget.