Iraq Business News brings you the latest on Iraqi government bonds, with information on developments and opportunities.
By John Lee. Finance Minister Hoshyar Zebari (pictured) said on Wednesday that Iraq has decided to issue $5 billion in international bonds, as it attempts to finance a budget deficit of $25 billion for the current year. He told reporters in Washington that negotiations were in progress with Citibank and Deutsche Bank, but according to […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Kurdish Plan To Take Out International Loans: Financial Folly? The past year has done much damage to the economy of Iraqi Kurdistan. And late in 2014 the government of […]
By John Lee. The escalating conflict in Iraq is making holders of the country's international debt nervous about repayment, according to a report from Reuters. The size of Iraq's dollar debt is relatively small - a $2.7 billion bond launched in 2006 in a restructuring of Saddam Hussein-era commercial debt. It is held by investors […]
By John Lee. Bloomberg reports that Iraqi bonds have had their worst week in a year, as a result of the escalating violence in the country. Yields on January 2028 debt rose five basis points to 6.93 percent, taking this week’s increase to 55 basis points, the most since the period ended June 21, 2013. […]
By John Lee. The Deputy Transport Minister, Bangen Rekani, has told Bloomberg that Iraq will seek $2 billion in financing to cover part of the cost of the 40 jets it has on order from Boeing. Iraq ordered 30 737-800s in 2008, followed by 10 787-8 long-haul Dreamliners in 2009, and a single 777 in 2012 -- […]
By John Lee. T Rowe Price has reportedly been selling some of its Iraqi government debt, in anticipation of renewed political turmoil in the country. Investment Week reports that the fund manager has been overweight in Iraq for several years, and at one time was the largest Iraqi debt holder. The company's emerging market debt […]
The recent surge in sectarian violence has sent Iraq's bond yields higher, prompting officials to postpone a planned debt sale. Deputy Finance Minister Fadhel Nabi told Bloomberg: “We will definitely issue new bonds, but it will take more time now with all the problems in the country.” The news agency also reports that the yield […]
By John Lee. The yield on Iraqi bonds has fallen more than three times as much as the average Middle Eastern bond, reports Bloomberg. From the start of June to the end of October, the rate on 5.8 percent dollar-denominated Iraqi government bonds maturing in January 2028 has fallen by 216 basis points to 6.48 […]
