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[size=36]Saleh: Exiting the list of the most indebted to (International Monetary) raises the creditworthiness of Iraq[/size]
Economy| 10:02 - 04/16/2023
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Baghdad - Mawazine News
The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, considered that Iraq's exit from the list of countries most indebted to the International Monetary Fund is an attractive element for investment, as it greatly raises the creditworthiness of Iraq.
Saleh said, "Iraq's exit from the list of countries most indebted to the International Monetary Fund raises the creditworthiness of Iraq significantly in the list of the most worthy countries," adding that "this is an attractive element for investment on the one hand, and on the other hand, all international contracting that takes place in Iraq It reduces the risks of affecting project costs, in addition to positive repercussions on all external business costs associated with the Iraqi economy.
And he noted that "Iraq, since the (Paris Club) agreement signed on 11/21/2004 by former Finance Minister Adel Abdul-Mahdi at the time, got rid of 100 billion dollars of its debt, i.e. 80% was reduced, and the volume of debt was about 130 billion dollars. $100 billion was deducted from it according to the agreement, as I mentioned above, and the remainder was scheduled for 20 years, with a six-year grace period,” according to the official newspaper.
The advisor to the Prime Minister for Financial Affairs confirmed that "Iraq is committed to fulfilling its debts, whether to companies or creditor countries, and there is great cooperation between the Ministry of Finance and the Central Bank of Iraq in paying the installments with their benefits and on time, and since 2009 Iraq began paying the interests, and in 2011 it began paying the installments with their benefits." .
A report issued by the International Monetary Fund last week indicated that there are 19 countries with debts exceeding one billion US dollars (not including Iraq), out of the total number of creditor countries from the United Nations Economic Foundation, which is 94 countries. Ended 29/N33
The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, considered that Iraq's exit from the list of countries most indebted to the International Monetary Fund is an attractive element for investment, as it greatly raises the creditworthiness of Iraq.
Saleh said, "Iraq's exit from the list of countries most indebted to the International Monetary Fund raises the creditworthiness of Iraq significantly in the list of the most worthy countries," adding that "this is an attractive element for investment on the one hand, and on the other hand, all international contracting that takes place in Iraq It reduces the risks of affecting project costs, in addition to positive repercussions on all external business costs associated with the Iraqi economy.
And he noted that "Iraq, since the (Paris Club) agreement signed on 11/21/2004 by former Finance Minister Adel Abdul-Mahdi at the time, got rid of 100 billion dollars of its debt, i.e. 80% was reduced, and the volume of debt was about 130 billion dollars. $100 billion was deducted from it according to the agreement, as I mentioned above, and the remainder was scheduled for 20 years, with a six-year grace period,” according to the official newspaper.
The advisor to the Prime Minister for Financial Affairs confirmed that "Iraq is committed to fulfilling its debts, whether to companies or creditor countries, and there is great cooperation between the Ministry of Finance and the Central Bank of Iraq in paying the installments with their benefits and on time, and since 2009 Iraq began paying the interests, and in 2011 it began paying the installments with their benefits." .
A report issued by the International Monetary Fund last week indicated that there are 19 countries with debts exceeding one billion US dollars (not including Iraq), out of the total number of creditor countries from the United Nations Economic Foundation, which is 94 countries. Ended 29/N33
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