Baghdad / Iraq News Network A member of the parliamentary finance committee , Ahmed Sarhan, Wednesday, that the volume of loans and the Iraqi debt from abroad during the past few years amounted to $ 105 billion, pointing out that the payment of those debts depends on the sale of high oil prices Aalemya.oukal Ahmed said in a statement news today: " the volatility of global oil prices would have a negative impact on the federal budget for the country setting, but it will be the former effect size when prices fell from $ 100 to below $ 35 . " he added that " the impact on the budget will be minor and non - tangible form clearly , "pointing out that" Iraq adopted during the previous three years on foreign loans to cover its budget deficit and to pay off previous debts, which currently amounted to nearly $ 105 billion . "he explained that" the decline in global oil prices make Iraq the need to postpone the payment of conforming the loans while the rise in oil prices globally can then repay those loans in the form of oil payments , "stressing that" Iraq 's dependence on a single supplier of oil make it be placed and difficult to deal with the crisis moving cautiously until prices return to normal. "