Iraq issues bonds to pay IOCs
<p>The Iraqi government has approved $12 billion worth of <a target="_blank" href="http://www.iraqoilreport.com/news/iraq-seeks-bond-revenue-to-make-delayed-ioc-payments-14186/">treasury bonds to pay foreign oil companies</a>.</p>SULAIMANIYA - The Iraqi government has approved $12 billion worth of treasury bonds to pay foreign oil companies.
The bonds will help Iraq plug a revenue gap created by years of budgetary mismanagement, rising military spending demands, and a decrease in the price of oil.
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