Iraqi attempts to issue international bonds to ensure the failure of US


K24 - Erbil

Adviser to Iraqi Prime Minister Haider al-Abadi said that his country's attempts to issue international bonds to ensure the US had failed after it refused to representatives of the Republican Party in the US Congress.

This comes just days after the sacking of Finance Minister Hoshyar Zebari, who predicted Iraqi lawmakers and officials said the move affects the international reputation of Iraq.

He said the appearance of favor economic adviser Ebadi, as reported by Reuters news agency that Iraq's attempts to issue bonds hosted billion guaranteed by the United States in order to reduce debt costs failed after the US Congress refused to guarantee half the value of the bonds.

It was likely that these funds supplemented by an agreement with the International Monetary Fund for a loan worth $ 5.34 billion over three years, which the Fund has agreed in July compared to the past economic reforms.

The Iraqi government has released an updated version of the budget in 2017 is expected be presented to parliament and assumed a deficit of nearly $ 8.5 billion, with the largest export of crude oil quantities and at a better price from the last period.

This version includes spending less and a deficit lower than stated in the budget of 2016, which assumed charge of $ 106.9 trillion dinars (90.4 billion dollars), with a deficit of 23.5 trillion dinars ($ 19.8 billion), due to a sharp decline in oil prices and revenues since 2014.