Iraq comes out of the list of countries most indebted to the International Monetary Fund

by **Rocky** Sun 16 Apr 2023, 7:15 am

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Post n°1

Iraq comes out of the list of countries most indebted to the International Monetary Fund

by Rocky Sun 16 Apr 2023, 7:15 am

[size=46]Iraq comes out of the list of countries most indebted to the International Monetary Fund[/size]

Iraq
09:42 - 2023-04-16

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The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, considered that Iraq’s exit from the list of countries most indebted to the “International Monetary Fund” is an attractive element for investment, as it greatly raises the creditworthiness of Iraq, while experts considered that leaving Iraq carries great positive economic repercussions that must be invested. professionally.

Salih said in a statement reported by "Al-Sabah" newspaper, that "Iraq's exit from the list of countries most indebted to the (International Monetary Fund) raises the creditworthiness of Iraq significantly in the list of the most worthy countries," and he explained that "this is an attractive element for investment on the one hand, and on the other hand." On the other hand, all international contracting that takes place in Iraq reduces the risks of affecting project costs, in addition to positive repercussions on all external business costs associated with the Iraqi economy.
He noted that "Iraq, since the (Paris Club) agreement signed on 11/21/2004 by former Finance Minister Adel Abdul-Mahdi at the time, got rid of 100 billion dollars of its debt, i.e. 80% was reduced, and the volume of debt was about 130 billion dollars, A deduction from it, according to the agreement, as I mentioned above, is 100 billion dollars, and the rest is scheduled for 20 years, with a grace period of six years.
The advisor to the Prime Minister for Financial Affairs confirmed that "Iraq is committed to fulfilling its debts, whether to companies or creditor countries, and there is great cooperation between the Ministry of Finance and the Central Bank of Iraq in paying installments with their benefits and on time, and since 2009 Iraq began paying interest, and in 2011 it began paying installments with their benefits." .
With regard to the internal objections that affect the international institutions (the Bank and the Monetary Fund), Saleh indicated that "the reason for the great objections is that the dealings of these two institutions are completely in accordance with the Western system," and indicated that "in fact - and according to my closeness to my work with (the International Monetary Fund) since From 2003 until now, Iraq has entered into six agreements with (the fund) and has not suffered any harm, and has facilitated many things for Iraq, especially the simple agreement that was for a period of months as an emergency agreement, which helped drop 80% of Iraq's debts.

A report issued by the "International Monetary Fund" last week indicated that there are 19 countries with debts exceeding one billion US dollars (not including Iraq), out of the total number of creditor countries from the United Nations Economic Foundation, which is 94 countries.
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by **Rocky** Sun 16 Apr 2023, 8:24 am

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Post n°2

Iraq is outside the list of the most indebted to the {International Monetary}

by Rocky Sun 16 Apr 2023, 8:24 am

Iraq is outside the list of the most indebted to the {International Monetary}

Iraq 2023/04/16
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Hoda Al-Azzawi

The Adviser to the Prime Minister for Financial Affairs, Dr. Mazhar Muhammad Salih, considered that Iraq’s exit from the list of countries most indebted to the “International Monetary Fund” is an attractive element for investment, as it greatly raises the creditworthiness of Iraq, while experts considered that leaving Iraq carries significant positive economic repercussions that should be invest in a professional manner.
Salih said in an exclusive interview with "Al-Sabah": "Iraq's exit from the list of countries most indebted to (the International Monetary Fund) raises the creditworthiness of Iraq significantly in the list of the most worthy countries," and he explained that "this is an attractive element for investment on the one hand, and on the other hand." On the other hand, all international contracting that takes place in Iraq reduces the risks of affecting project costs, in addition to positive repercussions on all external business costs associated with the Iraqi economy.
He noted that "Iraq, since the (Paris Club) agreement signed on 11/21/2004 by former Finance Minister Adel Abdul-Mahdi at the time, got rid of 100 billion dollars of its debt, i.e. 80% was reduced, and the volume of debt was about 130 billion dollars, A deduction from it, according to the agreement, as I mentioned above, is 100 billion dollars, and the rest has been scheduled for 20 years, with a grace period of six years.
The advisor to the Prime Minister for Financial Affairs confirmed that "Iraq is committed to fulfilling its debts, whether to companies or creditor countries, and there is great cooperation between the Ministry of Finance and the Central Bank of Iraq in paying installments with their benefits and on time, and since 2009 Iraq began paying interest, and in 2011 it began paying installments with their benefits." .
With regard to the internal objections that affect the two institutions (the Bank and the International Monetary Fund), Saleh indicated that “the reason for the great objections is that the dealings of these two institutions are completely in accordance with the Western system.” From 2003 until now, Iraq has entered into six agreements with the (fund) and has not suffered any harm, and has facilitated many things for Iraq, especially the simple agreement that was for a period of months as an emergency agreement that helped bring down
80% of Iraq's debt.
A report issued by the "International Monetary Fund" last week indicated that there are 19 countries with debts exceeding one billion US dollars (not including Iraq), out of the total number of creditor countries from the United Nations Economic Foundation, which is 94 countries.
In turn, the independent politician, Omar Al-Nasser, indicated in an exclusive interview with "Al-Sabah": that "Iraq must deal with the issue of debts professionally and fairly," noting that "Iraq's foreign debts are divided into two parts, debts payable, including debts belonging to the IMF and the Bank." international debts, and almost non-existent debts that were not claimed by creditors under the terms of the (Paris Club) agreement for the year 2004 regarding the write-off of 80% of Iraq’s foreign debts before 1990 belonging to the era of the former regime.
He added, "The issue of Iraq's exit from the list of countries most indebted to the IMF is a positive indication of the beginning of a future economic recovery, and the expected return of Iraq to the international trust platform to join the rest of the world that has achieved economic leaps, because it is determined to pay its debts." Al-Nasser asked, "How much is the percentage of foreign debts that Iraq lent to the countries of the world during the period of the former regime, and those countries have not repaid it until this moment?" ".
He stressed the necessity of "the state's insistence on zeroing foreign debts, as it comes within the list of the most important priorities that must be resolved in the future, because this leads to a high development and economic boom that contributes to raising job opportunities and reducing unemployment, and to avoid an increase in interest rates that accumulate on those debts that were an incentive." Sufficient to encourage Iraq to fulfill the money it owes, especially since the policy of the (International Monetary Fund) may force Iraq to accept conditions that are not suitable for it and affect the stability of its internal political situation, and may force it to raise fuel prices or increase taxes, which causes an internal crisis and protests, as happened. With some countries of the world because of the terms imposed on them.

Edited by: Muhammad Al-Ansari
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Iraq comes out of the list of countries most indebted to the International Monetary Fund

Iraq comes out of the list of countries most indebted to the International Monetary Fund

Iraq is outside the list of the most indebted to the {International Monetary}

Iraq is outside the list of the most indebted to the {International Monetary}

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