by[You must be registered and logged in to see this link.][You must be registered and logged in to see this link.]2 Hours ago
[You must be registered and logged in to see this image.]
The financial advisor to the Iraqi Prime Minister announced that the internal debts of Iraq, which are exclusively in the possession of the government banking system, are estimated at about $55 billion if they are valued in foreign currency according to the new exchange rate. In the budget instead of the current ratios that do not exceed 8% and according to what was stated in the ministerial platform of the government of Prime Minister Muhammad Shia’a al-Sudani.
The financial advisor to the Iraqi Prime Minister, Dr. Mazhar Muhammad Salih, yesterday, Wednesday (February 15, 2023), told the Iraqi News Agency that “a percentage of no less than 63% of the internal public debt is in the possession of the Central Bank of Iraq, whether in the form of government bonds or treasury transfers.”
Regarding foreign debts that must be extinguished or paid in the short term, Mazhar Muhammad Salih said: “The external public debt that must be paid between the years 2023-2028 is estimated at about $21-23 billion.”
The Iraqi economy generally relies on oil revenues, and in this context, the financial advisor to Muhammad Shia’ al-Sudani said: “Non-oil revenues, which should be about 20% of total public revenues in the budget, instead of the current percentages that do not exceed 8%, according to what was stated in The ministerial platform of the government of Prime Minister Mohamed Shia Al-Sudani.
Regarding the payment of debts owed by the Iraqi state, Mazhar Muhammad Salih said: “The extinguishing and repayment of debts are subject to a tight financial program and regular timing, especially external debt receivables through allocations allocated in the general budget to extinguish debts and its services, which still indicates the high creditworthiness of Iraq with institutions The international credit rating, according to its data issued periodically since its approval in 2015 until the present time.
And the advisor to the Central Bank of Iraq, Ihsan al-Yasiri, had stated on (December 3, 2022) to the Iraqi News Agency that the cash reserves of the Central Bank of Iraq exceeded for the first time 90 billion dollars and that this is a sign of an improvement in the country's economy.
[You must be registered and logged in to see this link.]