Iraq plans US$2b eurobond sale to plug 2018 budget deficit

Abu Dhabi

IRAQ plans to return to the global bond markets next year to raise US$2 billion to finance its budget deficit, central bank governor Ali Al-Allaq said on Sunday, as the oil-rich country capitalises on the backing of the International Monetary Fund (IMF) and a gradual return to stability.

Iraq, Opec's second-biggest producer, will also raise funds through local and foreign loans, Mr Al-Allaq said in an interview in Abu Dhabi.