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U.S. State Department Guarantees US$1 Billion Financial Package for Iraqi Government

It is backed “by a 100 percent guarantee by the U.S. government

The U.S. State Department and the Iraqi government have agreed on a US$1 billion sovereign bond issuance guaranteed by the U.S. This is evidence of the U.S. government’s longstanding commitment to supporting Iraq’s continuous struggle with geopolitical conflict. This newest guarantee is tied to a larger international financial assistance package that is ultimately anchored by the International Monetary Fund (IMF) and will provide Iraq low-cost finances which are badly needed to fund infrastructure support needed for long-term stability of the country via economic and institutional reform. 

This US$1 billion bond which will cover 5 years. It is backed “by a 100 percent guarantee by the U.S. government of the repayment of principal and interest, and was priced at a coupon rate of 2.149 percent.” Source: U.S. State Department 

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