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A member of the economic and investment commission in Parliament MP Mehdi al-Hafez, on Monday, that Iraq's debts exceed $ 100 billion, indicating that the reform measures of the government to address the economic problems were weak.
Al-Haafiz said in an interview that "Iraq's debts exceed $ 100 billion," explaining that "the bulk of this debt back external debt and by more than $ 60 billion, while the domestic debt which is in the form of bonds, 40 billion dollars."
"The current debt is one of the serious issues for the future of Iraq, and therefore need to be addressed Iraq to be in easy position to cope with potential financial Amhakl in the future."
Hafiz He noted that "there are no other resources of the state is oil, which is the main supplier of the public budget," noting that "the reform measures of the government to address the economic problems were weak and did not affect the essence of the theme that revolves around how to find a significant financial resource alongside oil to help the country in the field spending ".
Iraq seeks to cancel the debts arising during the period of the previous regime of Saddam Hussein, amounting to more than $ 140 billion, some of which go back as compensation because of wars with its neighbors and other commercial debts.
Iraq had been able to write off $ 100 billion of Paris Club debt amounting to 140 billion dollars after Iraq unilaterally signed with these countries debt towards Iraq cut by 80% including the Convention, while there were some countries of the Paris Club agreement with Iraq to write off 100 % of Iraq's debt trend.