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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


    Iraq made 5 trillion dinars to pay off the interest on their foreign loans

    Rocky
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    • Post n°1

    Iraq made 5 trillion dinars to pay off the interest on their foreign loans Empty Iraq made 5 trillion dinars to pay off the interest on their foreign loans

    Post by Rocky Sun 12 Feb 2017, 1:43 am

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    Iraq made 5 trillion dinars to pay off the interest on their foreign loans


     Baghdad / peace Zidane 

    The Iraqi government announced it would begin paying internal and external benefits of debt during the current year, and revealed that the annual interest, to be paid to foreign creditors during the current year amounting to 5 trillion dinars. 


    And it reached the Iraqi internal debt of $ 35 billion, while the external debt amounts to more than $ 70 billion. The increase is a result of the Government 's use, in recent years, to the internal and external borrowing to cover the deficit in the financial budgets for the last three years , amounting to $ 50 billion. 
    Financial advisor to the prime minister and said the appearance of Mohammed Saleh, in an interview with the (range), said that "Iraq allocated $ 5 trillion dinars ($ 3.9 billion) to pay off the internal and external benefits of debt during the year 2017 , " noting that "Iraq 's debt , which some see elevated part of them dubious and funded the wars of the former regime. " 
    High government adviser and pointed out that "Iraq is committed to paying all internal and external debt , including the Paris Club debt and loans obtained in recent years from international organizations." 
    Iraq has seen in the past three years , a severe financial crisis after the fall in oil prices and the invasion of organizing Daesh to one third of the country , which increased spending , which covered through internal and external loans. 
    And was a member of the parliamentary finance committee pros Hamadoun said (range), earlier, that " the government 's misguided policy in the increase in loans, will be charged to future generations many consequences, and it was supposed to resort to austerity and self - realized by OPEC agreement of the rise in the prices oil. " 
    She said a member of the Finance Committee that "internal and external loans amounted to $ 123 billion, which is a very large number , especially since some of the loans will go to support the budget and not activating the productive sectors." 
    In the meantime, Abdul Rahman al - Mashhadani, an economist said, (range) that " the benefits allocated by Iraq are too high and that it will grow in the coming years due to the new debt , which wants to get them during the current year and estimated with 14 billion dollars." 
    Al - Mashhadani said that " the financial policy of the state experienced a major failure during the current period because the amounts borrowed went of government spending as a distribution of salaries and did not go to support strategic projects related to the development of industry and agriculture , " he expected the government to "raise taxes on the citizens to support the budget without there is a real service. " 
    Japan has asked the Iraqi government to clarify the reasons for the delay in the payment of interest on loans provided by Iraq during the past years. 
    He said the Finance Ministry adviser Izz al- Din Taha said that " the Iraqi government largely committed to the implementation of foreign obligations, including the obligations on behalf of the Japanese side." 
    Ezzedine and added that "Baghdad was delayed in paying its financial obligations due to the large deficit in the general budget as a result of the sharp fall in oil prices , which had a negative impact on Iraq 's oil revenues, as well as internecine war carried out by Iraq in the face of terrorism which cost the Treasury a lot of money." 
    In a related development, Foreign Minister Ibrahim al - Jaafari called on the Czech government to "cancel the remaining debt of the Czech Republic on Iraq." 
    And decided the Paris Club, on sovereign debt of countries and based on what introduced by Canada and reached Iraq of the Convention on the credit to be prepared with the International Monetary Fund, to exempt Iraq from paying interest on the remnants of its debt dues and suspended until the end of the year 2019, and that other sovereign debt outside the Paris Club Iraq will pay about $ 800 million annually.
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