Russia drops debts to three Arab countries by about 140 billion dollars
14/1/2018 1:42 am [rtl] ( Reuters) - Russia has written sovereign debt to several countries over the past 17 years, amounting to $ 140.2 billion, including to Arab countries such as Iraq, Syria and Algeria. The external debts have overshadowed the economic performance of Iraq in terms of its impact on public budgets. The accumulated debts caused by the events in the country led to the need to get rid of them in order to reach the settlement of these debts because of their clear impact in supporting economic development. Soviet debt and published the newspaper "Komsmolskia Pravda" Russian, a recent report revealed that in which all countries written off Moscow 's debt and the size of this debt, is striking that most of the debt dating back to the Soviet era, and granted these debts specifically in the period between the mid - fifties and 1991. Russia has cut $ 21.5 billion in debt to Iraq and $ 9.8 billion to Syria in exchange for deals worth $ 4.7 billion for construction, oil and gas and Algeria. The Deputy Minister of Finance, Sergei Storchak, during his conversation with "Komsmolskaya Pravda" that governments in the world grant loans to countries in the world to obtain concessions in return for preferential terms for its products or investors in the borrowing country . Types of loans and pointed out that "loans are divided into two types, the first funds are used to finance the purchase of goods and products from the country 's lender, used in the second financial aid to countries borrowing to overcome the difficulties faced." Storchak added that the $ 140 billion was made after the re-calculation of current exchange rates, most of which came from the supply of weapons and defense equipment . Debt file The economic researcher Firas Amer pointed out earlier that "the closure of the file of foreign debt, it is necessary to the current stage in order to start a process of real economic development as these debts restrict the Iraqi economy and impose specific mechanisms for investment spending have greatly affected the development of the country. Amer considered the possibility of converting some of the other external debt into long-term or medium-term investments after coordination and agreement with creditor countries. Iraq's foreign debt has been classified into four categories: Paris Club debts, debts of non-Paris Club members, debts of commercial creditors (foreign private sector), GCC debts plus consultants' contracts . External debt It is noteworthy that the position of Iraq's external debt, as announced by the Ministry of Finance years ago, shows that the total debt settled for the Paris Club countries was about 51.6 billion dollars in 2004 and became the end of 2012 up to 9.444 billion dollars. The total debt settled for countries outside the Paris Club was about $ 18.33 billion in 2004 and became $ 2.712 billion in 2012, while the total commercial debt processed by about $ 19 billion in 2004 and became in 2012 (3.681) billion dollars.[/rtl] [rtl][You must be registered and logged in to see this link.] [/rtl] |
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