Iraq: $1bln US Bonds

BAGHDAD: Iraq announced the sale of $1 billion in bonds guaranteed by the United States, paying an interest of 2.1 percent, far below the price the country is paying for its non-guaranteed debt.

The U.S.-guaranteed five-year bonds were issued Wednesday, the finance ministry said in a statement.

The Iraqi government, which relies almost exclusively on oil income, has struggled to pay its bills since crude prices dropped in 2014, the same year that ISIS militants seized a third of the country’s territory.

https://www.dailystar.com.lb//News/Middle-East/2017/Jan-22/390473-iraq-announces-sale-of-1b-in-bonds-guaranteed-by-us.ashx

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