Iraq Abandons Govt Bond Issue

By John Lee.

Reuters quotes Iraqi Deputy Finance Minister Fathil Nabi as saying that Iraq has abandoned its plan to issue international bonds because the yield it would have to pay was too high.

The required return on the bonds reportedly forced Finance minister Hoshiyar Zebari (pictured) to halt the plan to raise up to $6 billion to support the Iraqi budget.

(Source: Reuters)

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