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The decision of the Arab League to end Iraq's Arab debts by 75 percent will end the economic crisis in the country, the economic expert said on Wednesday, pointing out that the decision is an unprecedented and historic step towards Iraq.
"The decisions of the Arab League on ending the debts of Iraq is an unprecedented historic step, a pledge to start a new phase of relations with its Arab environment," he said.
"Iraq is borrowing about 130 billion dollars at the moment and will be reduced to about 70 billion only in the case of ending the file of abhorrent loans from Arab countries."
"Reducing the debt to a large percentage will increase Iraq's development opportunities and will completely end the economic crisis in the country and allow it to act freely towards future debts," he said.
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