Iraq's national bonds: Addressing deficits, boosting markets
Mahmoud Dagher, former director of the Central Bank of Iraq (CBI), told Shafaq News that bonds serve as a debt instrument for the government and can be used to cover temporary deficits. 'They also play a key role in developing financial markets by providing investment opportunities,' he added.
'Issuing bonds is not necessarily tied to a financial deficit; they can stimulate the country's financial market by offering financial instruments,' Dagher noted.
On February 5, the Federal Ministry of Finance announced the launch of the first issuance of national bonds for public subscription, valued at 2 trillion Iraqi dinars ($1.53 billion), The subscription period runs from February 10 to March 10, 2025.
The latest issuance follows a similar bond offer last year, branded 'Injaz,' which included a 500,000-dinar note with a two-year maturity and a 6.5% annual interest rate, and a 1 million-dinar bond with a four-year term offering 8.5%. Interest payments on both are made semi-annually.
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