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[size=46]Al-Kazemi’s advisor clarifies the mechanism for repaying loans and debt installment payments[/size]
Economie
17:32 - 10-12-20-20
[You must be registered and logged in to see this image.]17:32 - 10-12-20-20
Today, Wednesday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained the mechanism for repaying loans and debt installment payments, while stressing that extinguishing external debts from financial surpluses requires a law.
Mazhar Muhammad Salih said in a press statement, "The repayment of loans is subject to specific mechanisms and agreements in repayment within the so-called public debt management," noting that "debt installment payments are subject to allocations within the actual current expenditures covered by paragraph 13 of the Federal Financial Management Law No. 6 for the year 2019 amended, and the annual budgets laws set out the allocations for debt services due.”
He added, "There are undrawn international loans whose withdrawals are spent on specific projects such as the projects of the Japan International Cooperation Agency or projects funded by the World Bank and funds for European governments," noting that "external borrowing issues are among the usual issues recognized in international finance, especially if It was for developmental purposes and free of acquiescence and various conditionalities.”
He continued, "Extinguishing the remnants of external debt from the expected financial surpluses is an issue that needs a law or a text in the next general budget law, provided that it is not linked to the generation of risks for claims for almost non-existent international debts that belong to the previous regime."
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