After 22 years and two wars Debt burdens Iraq

Posted: October 31, 2013 in Iraqi Dinar/Politics

Iraq’s debt declined after the 2003 invasion (European)
Fadel Meshaal – Baghdad

Conflicting numbers he is talking about officials, experts and parliamentarians in Iraq, about the size of the remaining debt on the state.

Financial expert says it is up to about thirty billion dollars, of which nine billion to Saudi Arabia and six billion to Kuwait and $ 15 billion to creditors scattered, after the Paris Club canceled 80% of the debt.

He adds Adnan al-Khalifa, a financial expert at the Rafidain Bank to the island, that the debt has been settled for more than 13 thousand commercial creditor from outside the Paris Club where they were paid $ 21 billion for these, and the rest will pay government bonds due in 2028.

According to Khalifa, the most trade creditors claims dating back to the pre-sixth of August / August 1990. Have tried a large number of these creditors fraud to obtain funds or compensation from the United Nations.

Debt constitute an obstacle to the recovery of Iraq’s economy (European)
Size of the debt
but the Member of Parliament Najiba Najib says to the island, “We Commission Parliamentary Finance do not have accurate statistics about the size of religion, and the number in our is $ 39 billion, because the Ministry of Finance does not authorize yet the remainder of the debt, and we know that Iraq will continue to pay Benefits of debt, not debt, until the year 2020. ”

And other financial expert cast light on Iraq’s debt. He says that the debt decreased year after the fall of the regime until the present time, where dropped $ 44 billion of debt in the Paris Club, including Russia ($ 12 billion) and the United States (4.1 billion) and Japan (6.8 billion) and Germany (5.1 billion) and France (5.1 billion) and Bulgaria (3.1 billion).

It is outside the Paris Club debt dropped UAE’s seven billion dollars.

Obstacle debt
and indicates the Sabih Mujbil expert of the island that the largest creditors now they Arabia amounting to thirty billion dollars debt, and had decided to write off their debts and then declined. And Kuwait 11 billion, and insist on a full recovery after being deducted from Iraqi oil sales since the cessation of the Second Gulf War in 1991 until now $ 44 billion. A debt of about 16 billion to countries outside the Paris Club countries.

And see a member of the Baghdad Chamber of Commerce Salem Hassan punitive debt that constitute an obstacle to the recovery of Iraq’s economy, which had hoped to follow the example of Kuwait Paris Club countries and take steps accordingly can get through good relations times the value of their debts when they participate in the reconstruction of Iraq operations.

Punitive classified the country’s debt as four sections, namely debt of the Gulf Cooperation Council, and the Paris Club countries and countries outside the Paris Club and commercial creditors.

He says he is still a war between Iraq and Iran closed where the latter demanding compensation tens of billions of what she says she losses in the eight-year war between the two countries.


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