Iraq in $12 billion bond move to pay iOCs

摘要

Dubai-Iraq’s government has agreed to issue $12 billion worth of treasury bonds starting in March to ensure it can make payments to international oil companies working in the country, the oil ministry said Tuesday. The decision was taken following a meet- ing between the oil and finance ministries, along with the central bank of Iraq, to address the consequences of lower crude oil prices and the resulting decline in government rev- enues, according to a statement on the oil ministry’s website.