12/10/2017 12:00 am
Mustafa Mohammed Ibrahim
Iraq economically achieved a new victory by issuing a bond (Euphrates) and comes after the issuance at the beginning of 2017 bond (Tigris) interest of 2.149 percent and the value of issuances of $ 1 million guaranteed by the US government.
The recently issued 5-year-old sovereign sovereign bond (Euphrates), with an interest rate of 6.75 percent, is paid every six months, which is lower than the international Iraqi bond that has been traded on international secondary markets since 2006 to settle the debts of the Paris Club of 2028 with a benefit of 7.6 percent.
The bond was classified by Fitch Ratings B and the number of international investment companies that submitted for purchase and competed with about 350 international investment companies carrying investment portfolios increased by more than (12) trillion dollars and have applied for the purchase of the bond (Euphrates) Including the Abu Dhabi Investment Fund and the Arab Monetary Fund. One of the most important investment companies that has offered to buy the Iraqi Al Furat is the California Education Fund, which is also one of the wealthiest funds in the American West Coast and the world.
The sale took place on Wednesday, 2017/8/2 in London by the Underwriters. The bond was registered for sale and purchase in the Irish stock market as it uses the European Union standards, which is one of the most accessible and efficient financial markets. The lowest bond category is (200) Thousand dollars and increase complications, pointing out that the interest paid half a year.
This achievement comes after the efforts exerted by the Iraqi government, especially the negotiating delegation with the International Monetary Fund on the program of credit readiness, which gives Iraq ($ 5.3 billion) after the end of the reviews with the International Monetary Fund, and the delegation worked day and night with members of the International Monetary Fund In order to impose a restriction on Iraq may be difficult to
Thus, this great economic achievement came after the victory that was achieved on (Da’ash), especially the call of Prime Minister Dr. Haider Abadi towards the direction of economic reform and reconstruction and reconstruction of Iraq, especially the liberated areas of the desecration of criminals.
And here we can say that Iraq is able to achieve more progress and development and achievement in light of the return of confidence with the international financial institutions that are now aware that Iraq is on the verge of economic revival and has the fundamentals of basic development.