Economist: Gulf debt illegitimate because it did not restrict in the records of the United Nations

Economist: Gulf debt illegitimate because it did not restrict in the records of the United Nations


Written by: Citizen newspaper | | Hits: 21



Iraq's debt exceeded 39 billion dollars, mostly to Gulf states

- Ahmed Kadhim

Description economist debt of the Gulf Cooperation Council on Iraq as dirty debt and illegitimate, saying she had not recorded in the records of the United Nations, and the aid is provided to the former regime during its war against Iran. The economist said Basil Antoine's (Citizen) yesterday, it did not enter the debt some states Alkhilj in the Paris Club loans, despite the fire and reduce the debt of most of Iraq's creditor countries. He added that the coalition Gulf of Saddam in his war against neighboring Iran created such debt against Iraq. Pointing out that Saudi Arabia used a pressure economical to make Iraq a country a consumer and a market for the disposal of goods of these countries and to ensure that progress developmentally and economically. A report by the research department of the Department of Research House of Representatives, according to the Ministry of financial and private debts of Iraq's foreign until 31/12/2012 and issued this year that «Iraq's foreign debt has been classified into four classes a debt to Paris Club countries and debts of countries outside the Paris Club debt trade creditors and debts of the Gulf Cooperation Council (GCC) where the total of this debt of more than 39 billion dollars were distributed as follows: 1 - debt to Paris Club countries and number [18] State of more than nine billion [444] million as reduced these countries debts on Iraq by 80% except for the United States and Denmark, which reduce their debt by 100% as well as Russia, which has reduced its debt by 92%, and was rescheduling the remaining of 20% .2 - creditor countries not members of the Paris Club, amounting to more than two billion and [712] million and has a debt settlement all of Bulgaria, Serbia, Tunisia] under the purchase offer cash through the repayment ratio 10.25% of the total debt in cash and the abolition of the remaining 89.75%, and canceled all of the states Malta, Cyprus, Slovakia, Algeria] full debt toward Iraq 3 - commercial creditors adults, amounting to more than [118] million 4 - Dion GCC countries amounting to 27 billion [639] million, has sent the Ministry of Finance draft bilateral agreement to the Finance Ministry to the United Arab Emirates provides turn off the debt by 100% after announcing it is still United Arab Emirates is considering this draft., the report pointed out that the «total Iraq's foreign debt amounted to the end of 2012 more than 39 billion [914] million dollars». Among the report that «Iraq has received under the agreement signed with the Paris Club to cancel 80% of the total external debt it was restructuring the remainder of the These debts amounting to 20% and paid during the 17 years to the semi-annual installments under [34] installments worth repaid from 2011 and runs until 2028 and the reduction in three phases, namely: First: Reduce by 30% at the signing of the agreement was done on 21/11 / 2004. Secondly: reducing the rate of 30% at the signing of the Convention [SBA] has been done in December 2005. Third: reducing the rate of 20% at the completion of Iraq all its obligations contained in the [SBA] at the end of December 2008. pointed Report of the Board Representatives that «the GCC countries and both Saudi Arabia and Kuwait and Qatar made its claim to the International Monetary Fund debts on Iraq and tried to Iraq through the delegation has sent him to negotiate with these countries amortized 100% but these countries have not taken any decision on the settlement of such claims«.


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