The government's economic advisor describes the issue of Iraqi debt as very complex

Wednesday 16 June 2021 13:13
 
Baghdad / NINA / - The economic advisor to the Prime Minister, Mazhar Muhammad Salih, described today, Wednesday, the issue of Iraqi debts as being very complex, as it is divided between external and internal debts.

Saleh said in a statement: "The internal debts amount to 50 billion dollars and are met within the official and governmental financial system, and not to local creditors from the private sector, that is, they are from the state to the state," noting that "the remaining external debts payable does not exceed 23 billion dollars, which is programmed to be repaid within the debt services section of the annual general budget in order to amortize them.

He added, "A part of the foreign debt is a remnant of the debt rescheduling of the Paris Club Agreement, and the other was new to finance arming and equipping the armed forces due to the conditions of the war on ISIS terrorism after the year 2014.

Saleh pointed out that "the outstanding debts of 8 countries, including Iran, Saudi Arabia, Qatar, the Emirates and Kuwait, amounting to 40 billion dollars, and these countries have not written off their debts yet, although they are subject to the Paris Club," explaining that "it dates back to before 1990 and the validity of the claimed figure is questionable." Therefore, it must be written off by 80 percent upwards. Otherwise, it is considered a formality and has no legal value, because the Paris Club Agreement to settle the external debt of Iraq and the debts before 1990, is binding and obligatory to write off, as Algeria, the United States and other friendly and brotherly countries did.” / End 8

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