Fmr. CBI Dep Governor: Iraq seeking global credit ranking

Posted by on Oct 23, 2013 | Leave a Comment

 

Warned of the risk of non-existence globally

 

is a credit rating of any country in the world better than the non-existence because it gives the degree of adoption by countries of the world to assess the country’s economy for the purpose of investment and the exercise of economic activities and other businesses.

 

saw expert financial and banking d. Appearance of Mohammed Saleh it is possible rating Country credit through bonds sold in global markets because the presence of credit rating, though low, is better than no rating mainly because there is no rating confirms that the country is a threat to all countries of the world.

 

are rated countries in the world credit ladder classification consists of 4 grades are A, B, C and D as well as variables that represent signal + or – and Petkrarat different. Saleh said in a statement to the (morning) that he must begin Iraq is now negotiating for the purpose Ranked credit.

 

and launched the first round of the Conference of Finance and trade in June of last year, the presence of the representative of the U.S. Department of Commerce Cameron F. Kerry, in addition to economic circles in Iraq, it was agreed during which Iraq to encourage investors to come to Iraq and classification of credit to be able to give credit for foreign investors, as well as the importance of that goes on Iraq in this Category to give guarantees in the investment opportunities and confidence to recover their capital.

 

The Fitch or Fitch classifies countries credit is an international institution globally recognized and is a wholly owned subsidiary of the Company Hirst, which has in April 2012 to increase its stake in Fitch Group to 50 percent , one of the three companies rated a major addition to Standard & Poor’s and Moody’s, The company was founded by John Knowles Fitch in late 1913 in New York City as the Fitch Publishing, merged with IBCA Ltd., based in London in December 1997.

 

drew Saleh Although the negotiations began last year, but the Chapter VII represented the main obstacle in the not to grant credit rating as the country represents a threat to international peace and security.

 

, and pointed out that Iraq is now out of Chapter VII of the UN Charter and moved to Chapter VI him, which means he is now no longer poses a threat but on the contrary, he entered the phase of peace and development, noting that the credit rating not yet been determined, but – as I believe – in the class B-and this is a good indicator

 

and explained that the rating is through the public debt and the issuance of remittances Treasury or government bonds, particularly in international markets, or those bonds that are sold outside of Iraq except for support and one Qaeidah Iraq in return for private-sector debt under the Paris Club agreement. added when sold bonds then sold at about 60 cents, then increased their discount for up to 90 cents, and in this case became as if Iraq’s rated automatically among the countries that have rated within the degree of B-giving Iraq a good indicator in the period of the existence of Chapter VII.

 

, and stressed that Iraq would emerge from Chapter VII and the entry of foreign companies, in addition to the presence of liquidity, high financial and political stability and the presence of oil wealth, are all factors that would raise the credit rating of the degree of Iraq.

 

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