CBI Increases Interest Rate on Local Bonds

By John Lee.

Reuters reports that Iraq has raised the interest rate its $1.3-billion local bond issue in order to boost sales.

The Central Bank (CBI) increased the rate from 6 percent to 8 percent, with the new rate applying to the whole issue regardless of when they were bought.

The sales period will remain open until the issue is fully subscribed.

(Source: Reuters)

(Bonds image via Shutterstock)

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