[size=11]Posted: 27.04.2021 | 08:08 GMT |[You must be registered and logged in to see this link.][/size]
Yesterday, Monday, the financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, revealed that the total of Iraq's foreign debts payable ranges between 23-25 billion dollars.
Saleh explained, in a statement to the Iraqi News Agency, that "Iraq's payable debts are those that were reduced by the Paris Club agreement and are called pre-1999 debts and debts achieved during the financial crisis and the war on ISIS terrorist gangs, including remnants of Kuwait's compensation, all ranging between 23-25 Billion dollar".
He added, "The remnants of Iraq's compensation to Kuwait did not exceed two billion dollars."
With regard to debt interest, Saleh said, "The number related to the so-called debt service allocations, ie the annual interest and installments payable, was estimated in the federal budget for the year 2021 at about 9 trillion dinars, which represents 7% of the total spending in the aforementioned general budget."
Saleh stressed that, "This percentage is not allocated to foreign debts only, but most of it is allocated to internal debts, which amount to about 70 trillion dinars," noting that "these debts represent the debt of the government banking system to the Ministry of Finance."
He pointed out that "these quotas allocated to public debt are taken over by internal debts at a rate of more than 60% of the total allocations for public or government debt service in the 2021 general budget, and that they are payments from the government to the government."
Source: Iraqi News Agency (INA)
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