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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Disclosure of the size of Iraq's foreign debt

    Rocky
    Rocky
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    Join date : 2012-12-21

    Disclosure of the size of Iraq's foreign debt Empty Disclosure of the size of Iraq's foreign debt

    Post by Rocky Sun 16 Apr 2023, 9:04 am

    [size=45][size=41]Disclosure of the size of Iraq's foreign debt[/size]
     7 hours ago
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    Today, Sunday, 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, while revealing the size of Iraq’s external indebtedness.
    Saleh said, according to the official newspaper, that "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."
    He explained 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 reduces the risks of affecting project costs, in addition to positive repercussions on all external business costs associated with the Iraqi economy."


    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. A deduction from it, according to the agreement, as I mentioned above, is 100 billion dollars, and the rest has been scheduled for 20 years, with a grace period of six years.
    And 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 installments with their benefits and on time, and since 2009 Iraq began paying interest, and in 2011 it began paying installments with their benefits.” .
    With regard to the internal objections that affect the two international institutions (the Bank and the Monetary Fund), Saleh indicated that “the reason for the great objections is that the dealings of these two institutions are completely in accordance with the Western system.”
    And he indicated that "in fact - and according to my closeness to my work with the (International Monetary Fund) since 2003 until now, Iraq has entered into six agreements with the (fund) and has not suffered any harm."
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