Iraq is preparing to borrow money to repay some of its creditors.
A $2bn (£1.16bn) bond issue would mark Iraq's return to the global financial markets after years of sanctions.

Banks and foreign groups have agreed to cancel between 80% and 87.5% of the $20bn debts owed them in return for partial repayments.

The bond would "extinguish the claims of most large private sector creditors on Iraq", finance minister Ali Allawi told Reuters.

"It will fulfil a major goal of the interim government," he said.

The return on the 20-year bond will be 5.8% a year, Mr Allawi said, adding that it would be traded in Europe.
http://news.bbc.co.uk/1/hi/business/4577942.stm

HELL YES!!! :thumbsup:
Psycho4Bud Reviewed by Psycho4Bud on . Iraq returns to financial markets!!! Iraq is preparing to borrow money to repay some of its creditors. A $2bn (£1.16bn) bond issue would mark Iraq's return to the global financial markets after years of sanctions. Banks and foreign groups have agreed to cancel between 80% and 87.5% of the $20bn debts owed them in return for partial repayments. The bond would "extinguish the claims of most large private sector creditors on Iraq", finance minister Ali Allawi told Reuters. "It will fulfil a major goal of the interim Rating: 5