Iraq Plans Bond Sales This Month to Cover $20 Billion Budget Gap
- Issuance to include local and foreign debt, PM adviser says
- Securities for overseas investors to be offered in tranches
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Iraq plans to sell bonds in domestic and international markets beginning this month to fill an annual budget gap forecast to swell to 24 trillion dinar ($20 billion) after oil prices plunged.
Domestic instruments will include 5 trillion dinars to public investors and $6 billion in treasury bills to banks, Mudher Saleh, adviser to Prime Minister Haidar al-Abadi, said in an interview Thursday. Debt to international buyers will be offered in tranches, he said without providing details on the amount.