More Than 100 Billion Dollars .. The Financial Advisor Reveals The Size Of Iraq’s Debts
The appearance of Muhammad Salih, the financial advisor to the Prime Minister, revealed the total external and internal debts of Iraq, indicating that it exceeds 100 billion dollars.
Saleh said, in an article published on the website of the Iraqi Economists Network, and seen by the agency (Information), that “Iraq made some external borrowings due to financial distress after 2014 as a result of the war on ISIS terrorism and the drop in oil prices and its direct impact on the country’s public budgets, but the total public debt Today, the external subject to payment obligations does not exceed $20 billion.”
He pointed out that “there are debts still pending on the Paris Club Agreement, which requires writing off by 80% or more, but it has not been settled and belongs to some Gulf countries and other countries, and it is estimated at about 41 billion dollars and represents the burdens of the Iraq-Iran war era, and is usually mentioned among the total debts before Some international organizations without considering the issue of their settlement and submission to the Paris Club settlements by removing 80% or more.”
The financial advisor to the government explained that “the internal public debt is the largest today and approaches about 50 billion dollars, but it is still a debt exclusively among government financial institutions, and its settlement is considered within the internal economic policies. It is a low-risk debt and its settlement falls within the scope of the institutions of state sovereignty.”
He cautioned that “the increase in oil revenues will provide high financial leverage to settle the residual debts, with truly easy options. link
Source: Dinar Recaps
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