Fitch Issued a New Credit Rating for Iraq

Iraqi Dinar 123 News:– The Fitch Ratings issued a statement that the agreement between Iraqi government and the International Monetary Fund will open new doors in order to get more international support and the possible availabilities for the issuance of Iraqi sovereign bonds in the international markets. The Fitch agency issued a press statement that the current agreement between the International Monetary Fund and the government of Iraq will confirm the improvement in the Iraqi credit ratings.

It is important that Iraqi government has recently signed an agreement with the International Monetary Fund in Baghdad. The Iraqi government will be able to get at least 5.4 billion U.S dollars after the implementation of this agreement. This amount would provide a handsome support to Iraqi economy and to empower the Iraqi financial institutions. It would also reflect positive impact on the credit rating of Iraq. Fitch also predicted that there was at least 15 percent increase in the Iraqi budget deficit 2016.

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