Iraq Bond Holders Will Make a Profit
|June 28, 2014||Filled under Iraq's Debt|
Iraq’s Debt News –
Confirm the reports and experiences of Iraq to its potential and its full commitment to repay foreign debt enhances the increase fiscal revenue that came from the high volume of oil exports, which recently reached 2.6 million barrels per day.
Despite the fall in the price of the Iraqi bonds to 87 cents per dollar – according to a report by Reuters – but that investors and bond holders have made a profit over the perceptions of the existence of insurance for five years in order to ensure payment in the event of a debt restructuring.
In this regard, said economic expert, Dr. Majid picture: that Iraq continuously pay its debts Foreign Trade amounting to 20 million dollars, adding that the benefits of it will enter into repayment in 2020 is also due to expire shot on all the bonds in 2028.
Added picture in a statement (morning): that there are debts unsettled amount in the highest estimates two billion and 500 000 dollars which is not resolved so far has been flying suits, what calls to make sure they are correct If they are correct to be paid under the terms of the Paris Club.
He said Iraq’s only commercial debt bonds, which continuously pay them, stressing that the financial resources of Iraq rises over its ability to repay the debt are growing as Iraq has not been without its financial obligations in terms of debt repayment.
Iraq will pay the benefits of it, amounting to 5.8 percent, I do not think that Iraq will fall reimbursed because of its financial resources increasing and continuous from its oil exports, which amounted to 2.6 million barrels, stressing that the reputation enjoyed by Iraq to pay its debts reputation came through repaid debt of Kuwait and other countries, according to the Paris Club or to the trade creditors are continuous and systematic.
Confirmed that the picture of Iraqi funds are now protected by the central bank as a deal with five central banks of the five countries give protection to the funds of the Central As long as the bank continued to work as a body independent of the government.
Claims new commercial debt of which went by the statute of limitations in time and some of them claims malicious and untrue and without identity documents and other division took a ruling categorically repayment, but there is disagreement about the payment because he must be in accordance with the Paris Club.
The report indicates The size of the debt for bonds of Iraq, which was launched in 2006 to restructure the business debt is relatively small and amounted to 2.7 billion dollars.
In the same context, said economic expert, Dr. appearance of Mohammed Saleh: that the efficiency of Iraq’s financial high, as it has the capacity to fulfill its debts.
Said in a statement (morning ) that some creditors have rulings lawsuit to satisfy the debt to 100 percent and their numbers are unknown, but they do not pose a threat, and at the same time sizeable, especially as the country paid the bulk of them.
Confirmed that Iraqi funds are protected self with the CBI being an independent institution which gives him strength respect in international forums for central banks.
Among the funds with the central bank is not commercial, but backup represents the cover of the coin or related processes, so deal specificity of the subject of immunities on the money, as it has immunity implied.
Salih noted that the rest of the reserves of the Central Bank in other countries deposited and managed by central banks provide protection for Iraq’s money since 2007, so it is not easy to attack by the creditors.
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