Iraq sells $1.3 billion in local bonds to plug public deficit
Iraq's central bank on Tuesday said it started selling local bonds worth 1.5 trillion Iraqi dinars ($1.29 billion), as part of an effort to plug a government deficit caused by tumbling oil prices and the costs of fighting an Islamic State insurgency. It is the first local bonds sale to the public since 2003, when […]Iraq's central bank on Tuesday said it started selling local bonds worth 1.5 trillion Iraqi dinars ($1.29 billion), as part of an effort to plug a government deficit caused by tumbling oil prices and the costs of fighting an Islamic State insurgency.
It is the first local bonds sale to the public since 2003, when Saddam Hussein was overthrown. Iraq already issues Treasury bills to domestic banks and has international bonds outstanding.
