Selling Iraqi Bonds would stabilize Iraqi Dinar exchange rate: Zebari

The Iraqi Finance Minister Hoshyar Zebari issued a statement on Monday that Iraq desired to boost up 2 billion U.S dollars by selling Iraqi treasury bonds in the international markets.

He added that we have requested for assistance from the International Monetary Fund in order to overcome economic and financial crisis in the country. Zebari further added in his telephonic statement to Bloomberg economic news website that Iraq is looking to get benefit from international bond markets during the mid of current year 2016. It would support in collecting more than 2 billion U.S dollars and it would be more beneficial to empower Iraqi Dinar currency. He pointed out that our schedule is to offer bid for bonds because Iraq is in much better position than previous years for launching international bonds.

The Bloomberg also indicated that Zebari said that the plan of selling bonds was disabled last year due to most of the investors demanded for dispensation and more interest rates, but it was impossible and most expensive for Iraqi government. Now, Iraq has arranged for the financial supervision program with the cooperation of the International Monetary Fund and it would provide a better way in getting more aid from IMF. Zebari added that Iraqi officials are arranging more talks with the International Monetary Fund in order to release more aid from IMF. It is not confirmed about the size of loan to be released and future grant to be issued by the IMF for Iraqi government to stabilize Iraqi economy. Most of the financial and economic experts indicated that it would also boost up Iraqi Dinar Investment in the country.

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