Iraqi governments plunged the country more than $ 100 billion

Iraqi governments plunged the country more than $ 100 billion

Baghdad , Ali al - Husseini

February 20, 2017



Treasury financial losses (AFP)


A member of the parliamentary Committee of Economy and Investment, MP Mehdi al - Hafez, that Iraq 's debts exceed $ 100 billion.

Said Mehdi al - Hafez, in a press conference on Monday that Iraq 's debts exceed $ 100 billion, the bulk of which is ascribed external debt, by $ 60 billion, while the domestic debt, in the form of bonds, about $ 40 billion. "

He pointed out that the current debt is one of the serious issues for the future of Iraq, and therefore need to be addressed, to be the country in an easy position to cope with potential financial problems in the future.

As between that there are no other resources of the state's non-oil sector, which is the main supplier of the general budget, pointing out that the reform measures to address the economic problems were weak, and did not affect the essence of the theme that revolves around how to create a significant financial resource alongside oil to help the country in the area of ​​spending.

On the other hand, discussed the Acting Minister of Finance, Abdul Razzaq al - Issa, with the IMF standby credit program requirements.

The ministry, in a statement, that " the Minister of Finance Agency, Abdul Razzaq al - Issa, discussed with the commissioner for economic affairs , minister at the US Embassy, Larry Mimut, prepare the credit requirements of the program with the International Monetary Fund, and the commitment of the Iraqi government to prepare the credit program, and to meet its requirements under the schedule. "

In turn, the World Bank Commissioner, Larry Mimut said, "We hope to launch a new push within the IMF funding as Iraq, which helps to finance the deficit in the federal budget."

The Executive Council has approved, in July 2016, on the standby credit agreement of the $ 5.34 billion US dollars, among Iraq's economic reform program.

A member of the parliamentary committee of energy, Abdel Qader Abdullah, said that the Iraqi government went to some private banks for the issuance of treasury bonds to repay the amounts of the Oil Ministry of the debt of the world 's oil companies, trying to Oil Ministry to pay all this money and debt during the current year through the issuance of Treasury bond. "

He attributed the Iraqi economic expert, Abdullah al-Abadi, said in remarks for "new Arab", rising debt to the financial crisis.

He explained that "Iraq's debt rose because of the financial crisis, which forced them to borrow from the World Bank and other countries and organizations, as well as delaying payments to different companies working in Iraq."

And that "the current figure for the debt of up to $ 100 billion, and we believe it exceeds 120 billion dollars in the case has the ministries of oil and electricity debt review."

And he saw that "with the continued decline in the country's monetary reserves to about $ 45 billion, it is the government should start by fast, before the Iraqi people have to pay the debt for three generations to come."

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