Iraq's foreign debt until 2012 exceeding $ 39 billion, mostly to the Gulf states

Iraq's foreign debt until 2012 exceeding $ 39 billion, mostly to the Gulf states



Ali Abdullah - 10/19/2013 - 9:34 p


External financial debt exceeded on Iraq until the year 2012 the 39 billion dollars, mostly belonging to the Gulf states.

A report by the research department of the Department of Research House of Representatives, according to the Finance Ministry and seen by news agency Buratha, 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 club Paris and debts of trade creditors and debts Gulf Cooperation Council (GCC), where debt totaled 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 re-Jdwolh remaining $ 20%.

2 - creditor countries not members of the Paris Club and reported to many of the two billion and [712] million and has a debt settlement all of Bulgaria, Serbia, Tunisia] under the purchase offer cash through payment percentage 10.25% of the total debt in cash and the cancellation of the remaining 89.75 %, and canceled all of the states Malta, Cyprus, Slovakia, Algeria entire debt to Iraq.

3 - adult payables, amounting to more than 118 million dollars.

4 - Dion Gulf Cooperation Council (GCC) of $ 27 billion and 639 million dollars, has sent the Ministry of Finance draft bilateral agreement to the Ministry of Finance of the United Arab Emirates required to turn off the debt by 100% after announcing it is still considering this draft Emirates.

The report pointed out that "the total of Iraq's foreign debt amounted to the end of 2012 more than 39 billion dollars and 914 million dollars."

The report said 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 this debt amounting to 20% and repaid over 17 years to the semi-annual installments under [34] installments worth repaid as of 2011 and continue until 2028 and the reduction in three phases, namely:



First: a 30% reduction when the agreement was signed on 21/11/2004.



Second: reducing the rate of 30% at the signing of the Convention [SBA] has been done in December 2005.



Third: reducing the rate of 20% upon the completion of Iraq all the obligations contained in the [SBA] at the end of December 2008.

He noted the report of the House of Representatives that "the GCC countries and both Saudi Arabia and Kuwait and Qatar submitted 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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