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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Between abundance and fear of bankruptcy.. Will Iraq take a way out of debt?

    Rocky
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    • Post n°1

    Between abundance and fear of bankruptcy.. Will Iraq take a way out of debt? Empty Between abundance and fear of bankruptcy.. Will Iraq take a way out of debt?

    Post by Rocky Tue 25 Apr 2023, 5:48 am

    [size=45][size=41]Between abundance and fear of bankruptcy.. Will Iraq take a way out of debt?[/size]
     16 hours ago
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    While Iraq has the largest cash reserves in its history, amounting to 125 billion US dollars, economists believe that "if oil prices fall, Iraq will lose its economic capacity and may take debt as a way to add to its previous debts."
     The economist, Salam Sumaisem, criticized today, Monday, the federal budget, considering it to be consumer spending and not diversify any sources of income.
    Sumaisem said in a press interview seen by “Takadum” that “despite the value of the explosive budget, we may reach bankruptcy and go to the path of debt in the event that the price of oil falls and our revenues are no longer equal to the volume of high spending in this budget, which witnesses great (extravagance) in it.”
    And the economist called for “diversifying sources of income and compressing expenditures for the purpose of reducing the budget and not keeping its price high in order to ensure stability in financial exchange operations.”
    She pointed out that “the investment aspect is completely absent from the three-year budget,” which the House of Representatives intends to vote on.
    It is noteworthy that the foreign debts incurred by Iraq are limited debts, amounting today to about 17 billion dollars, and are divided into types, including soft debts for the benefit of countries and governments that lend to Iraq in fulfillment of its commitment at the Madrid Conference for the Reconstruction of Iraq in 2003, during which several countries, led by the United States, pledged to provide Grants and soft loans to Iraq amounting to approximately 33 billion dollars in an effort to rebuild the country, which explains the provision of loans through American, Japanese, British and German development agencies.
    Observers confirm that Iraq pays 4 billion dollars annually to pay debt installments and interests, and its volume may not constitute 6 to 7 percent of its gross domestic product, and thus it can be said that Iraq is a country that is not bound by debt.
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