Al-Sudani's advisor tries to explain the "huge figure" of the World Bank on Iraq's debt
[You must be registered and logged in to see this image.]
[You must be registered and logged in to see this image.]
+A
-A
Baghdad today - Baghdad
Today, Wednesday (August 30, 2023), the Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, stated that Iraq’s debts of more than $150 billion to the World Bank are “exaggerated” and unreal, while he reviewed Iraq’s debts as a whole in an attempt to explain the source of the figure that the bank talked about. international.
Saleh told the official news agency, followed by “Baghdad Today,” that “the issue of the Iraqi public debt requires a professional distinction of its history and details, and not taking its numbers on their minds without a clear logical analysis. The internal public debt, which is approximately 71 trillion dinars, and which the government banking system still holds Those debts are in the form of government bonds and treasury transfers, when evaluated in foreign currency, it is estimated at about $54 billion, while the external debt payable until the year 2028 is estimated at about $23 billion, and there are debts due after the year 2028, so the external debt becomes about $30 billion.
He added, "There is a debt pending on the 2004 Paris Club agreement, i.e. sovereign debts before 1990 belonging to four Gulf countries and four other countries, which are about 40 billion dollars, and if they are activated, if they are correct (because they are, as is termed economically, reprehensible debts because they financed the Iraqi-Iranian war." At that time, if it is correct again, it must be deducted by 80% or more under the Paris Club agreement for the year 2004, to be less than $ 9 billion or less.
And Saleh continued, commenting on what the World Bank mentioned in its new report that Iraq’s debt exceeds 150 billion dollars: He said, “We do not know the method of calculating the debt in the World Bank report. Aside from it, for the external debt to reach 50 billion dollars, as an expectation of the total internal public debt early, which was not achieved, and therefore the reading of Iraq’s internal and external debts, according to what was published by the World Bank, came to be about 152 billion dollars, and this is exaggerated rather than being At about $84 billion (excluding the balance attached to the Paris Club agreement as an abhorrent debt) and what has been published about debt balances is unreal and discretionary.
He pointed out, "Nevertheless, the public debt-to-GDP ratio, even in light of its unjustified inflation, will remain between 54-57% of the estimated GDP for the year 2023, and it is within the current safe economic stability area, which is usually estimated at about 60%."
And the advisor to the Prime Minister for Financial Affairs warned, "The financial policy in Iraq adopts a highly disciplined system in adjusting the timing of payment of debt dues (annual installments and interest) or when extinguishing the debt once on its annual due dates, and there are fixed and accurately estimated annual allocations that are monitored in the budget." The public early to pay debt services and dues, especially Iraq's foreign debts, and no failure has been recorded in Iraq during a decade and a half, and this is what made Iraq's credit worthiness high, as Iraq is located within Area B in the global credit rating tables that are evaluated by international credit rating companies. Known and periodically since 2015 until today.
Saleh explained, "The vast majority of internal public debt is in the possession of government financial institutions or the government banking system, which is an (exclusive) internal governmental matter. There is a strategy in dealing with this debt, especially since the monetary authority currently acquires about 64% of the total internal debt and has the ability to In managing it in coordination with financial policy and with high accuracy, bearing in mind that the banking system annually obtains interest on that debt at a rate of 3%, and it falls within the annual allocations of the general budget.
[You must be registered and logged in to see this link.]
Today at 3:32 pm by Rocky
» The Minister of Oil sponsors the signing of an agreement to develop the Tuba oil field project with
Today at 3:26 pm by Rocky
» In numbers... Basra Oil explains the importance of the Tuba field after signing a contract to develo
Today at 3:25 pm by Rocky
» Electricity: The government provides energy at subsidized prices for (4) categories
Today at 3:24 pm by Rocky
» The electricity produced in Iraq covers 65% of demand... and 15 thousand megawatts is a “deficit”
Today at 3:22 pm by Rocky
» Parliamentary services: Government interest in Baghdad will make it one of the most beautiful capita
Today at 3:21 pm by Rocky
» Basra Council emphasizes work to qualify young people and place them in the labor market
Today at 3:19 pm by Rocky
» Politician: Al-Kadhimi was recommending that Plasschaert write “negative” reports about Iraq
Today at 3:17 pm by Rocky
» Trade launches operations to lift the ban on the ration card next to Rusafa
Today at 3:16 pm by Rocky
» utube 5/12/24 Iraqi Dinar | Citi Bank Announced New Rate Of The Iraqi Dinar | Dinar News Today 202
Today at 7:00 am by Rocky
» utube 5/9/24 MM&C 0:02 / 46:46 PM - Al-Sudani - Golden Opportunity - Private Sector - Contra
Today at 6:57 am by Rocky
» utube MM&C 5/11/24 Iraqi Dinar - IQD Update - International - IraqTiming - 2024 Budget Schedule - Sp
Today at 6:55 am by Rocky
» Bahr Al-Ulum calls for legislating the renewable energy law and localizing the solar panel industry
Today at 6:49 am by Rocky
» In numbers: the rise in internal debt in Iraq
Today at 6:49 am by Rocky
» Jordan demands that Iraq continue to export oil for another three months
Today at 6:46 am by Rocky
» Iraq is the largest producer.. OPEC+ is pumping higher than scheduled and in anticipation of the Jun
Today at 6:44 am by Rocky
» Close to the coordination framework: There is no intention to change the internal regulations of Par
Today at 6:43 am by Rocky
» Central Bank sales exceed $274 million today
Today at 6:41 am by Rocky
» But the representative of the exchange companies is pessimistic... Why did the dollar fall?... The C
Today at 6:38 am by Rocky
» Jordan addresses Iraq to extend a memorandum of understanding to purchase oil
Today at 6:36 am by Rocky
» Bribes increased from 3,000 to 50,000 dollars.. What is the condition of alcohol in Iraq after the p
Today at 6:34 am by Rocky
» Presence movement: Sunnis and Kurds while the Americans remain in Iraq
Today at 5:31 am by Rocky
» A deputy reveals the contents of the first water strategy in Iraq
Today at 5:29 am by Rocky
» Soon...the second reading of the proposed red card law
Today at 5:28 am by Rocky
» The discovery of 10 new oil and gas fields in the Anbar desert
Today at 5:27 am by Rocky
» A bloc announces to “Al-Ma’louma” the date of the parliamentary speaker’s election session
Today at 5:26 am by Rocky
» Parliamentary Finance explains the mechanism for amending the retirement law
Today at 5:24 am by Rocky
» Sovereignty accuses Al-Halbousi of obstructing the election of a Speaker of Parliament
Today at 5:23 am by Rocky
» Parliamentary Agriculture accuses Kurdistan of harming the farmers of the center and south
Today at 5:22 am by Rocky
» Al-Sudani confirms Iraq's readiness to host the Arab Network conference
Today at 5:21 am by Rocky
» Nechirvan Barzani calls on the Iraqi government to allocate a budget to confront climate change
Today at 5:20 am by Rocky
» “Iraq is in danger.” Political warnings against ending the work of the UN mission
Today at 5:19 am by Rocky
» The Iraqi Interior Minister announces the signing of a security cooperation memorandum with Syria
Today at 5:17 am by Rocky
» The Minister of Oil told “Al-Iqtisad News”: The 5th and 6th rounds will add 3 Mqmq of gas to Iraq’s
Today at 5:16 am by Rocky
» Economist: Tax revenues from the private sector should be 4 trillion dinars annually
Today at 5:14 am by Rocky
» The Real Estate Bank calls on the Iraqi Central Bank to determine a plan to allocate a new initiativ
Today at 5:13 am by Rocky
» More than one billion and 400 million dollars...CBI sales within a week
Today at 5:12 am by Rocky
» Oil: Iraq achieved self-sufficiency in liquid gas and began exporting the surplus
Today at 5:10 am by Rocky
» Iraq begins exporting liquid gas
Today at 5:09 am by Rocky
» The Cabinet Secretariat sets to Al-Iqtisad News the completion date for the Chinese agreement school
Today at 5:09 am by Rocky
» Securities: The most recent law of the Authority in the Arab and regional countries
Today at 5:07 am by Rocky
» A European desire to strengthen security and economic cooperation with Baghdad
Today at 5:06 am by Rocky
» The close selection of a person for the position of Speaker of Parliament
Today at 5:05 am by Rocky
» Parliamentary law excludes the exchange of penalties for cash amounts
Today at 5:04 am by Rocky
» An agreement with Italy to finance industrial projects
Today at 5:02 am by Rocky
» The Najaf Chamber of Commerce signs a “memorandum of understanding” with its Thai counterpart
Today at 5:01 am by Rocky
» Baghdad, Arab Forum
Today at 5:00 am by Rocky
» Specialists: Economic integration and job opportunities await development
Today at 4:59 am by Rocky
» The President of the Republic, Nechirvan and Barzani stress the necessity of coordinating efforts be
Today at 4:57 am by Rocky
» The Judicial Institute announces the names of those accepted for the 48th and 49th sessions
Today at 4:56 am by Rocky
» Today's newspapers are interested in launching the fifth licensing supplement rounds and the sixth l
Today at 4:55 am by Rocky
» Al-Sudani receives the Secretary-General of the Arab Network for National Human Rights Institutions
Today at 4:53 am by Rocky
» Trade participates in the meetings of the Economic and Social Council at the level of senior officia
Today at 4:52 am by Rocky
» The Minister of Transport discusses with the Tunisian Minister of Foreign Affairs and Immigration wa
Today at 4:50 am by Rocky
» Iraq recorded an increase in its oil exports to the United States last week
Today at 4:49 am by Rocky
» It is governed by three dimensions.. Parliament talks about a strategic priority for Iraqi national
Today at 4:48 am by Rocky
» To what extent do Arab countries influence politically Iraq? It has become more independent
Today at 4:46 am by Rocky
» The Iranian ambassador in Baghdad: Iraq has paid its debts, and the security agreement includes thre
Today at 4:45 am by Rocky
» Dollar exchange rates decline slightly on the Baghdad Stock Exchange
Today at 4:44 am by Rocky
» China has 18% of the fields in the two new rounds, and 11 countries share the remainder
Today at 4:43 am by Rocky
» On the table...a proposal for the Kurdistan oil crisis and an effort to conclude a similar agreement
Today at 4:42 am by Rocky
» Al-Awadi: A government decision to provide sovereign guarantees and guarantees to encourage the inve
Today at 4:40 am by Rocky
» 6 Chinese companies are among the winners of developing Iraqi oil and gas fields
Today at 4:38 am by Rocky
» Baghdad gives UNAMI the end of 2025 to leave the country after fiery briefings
Today at 4:37 am by Rocky
» Dhi Qar clarifies: The quarry burying radioactive materials is regular and does not pose a danger
Today at 4:36 am by Rocky
» Al-Sudani: There are 64 lagging projects in Babylon
Today at 4:34 am by Rocky
» The housing crisis is expanding and planning confirms: Iraq needs 3 million housing units to solve i
Today at 4:34 am by Rocky
» 90 billion dinars were recovered from social protection violators
Today at 4:32 am by Rocky
» Iraq seeks to increase its oil reserves to more than 160 billion barrels
Today at 4:31 am by Rocky
» After keeping the numbers secret... Did the rain increase Iraq's water reserves by 120%?
Today at 4:30 am by Rocky
» In the first quarter of 2024.. Iran will displace Iraq and become the second largest producer in OPE
Today at 4:28 am by Rocky
» Iraqi oil exports to Jordan stopped 20 days ago
Today at 4:27 am by Rocky
» Iraq and Syria sign a memorandum of security cooperation in several fields
Today at 4:25 am by Rocky
» Parliament recommends stopping electronic schools in Iraq
Today at 4:24 am by Rocky
» Parliamentary law rules out passing a law replacing penalties with sums of money
Today at 4:22 am by Rocky
» After a rare meeting... sources talk about Al-Sadr's future in political life in Iraq
Today at 4:21 am by Rocky
» The President of the Republic warns of climate change and its threat to food security and future gen
Today at 4:20 am by Rocky
» The Iranian ambassador to Iraq talks about negotiations for the withdrawal of American forces and Tu
Today at 4:19 am by Rocky
» Deputy: Iraq represents an important factor in the stability of the global oil market
Today at 4:16 am by Rocky
» Transportation: The Iraqi-Turkish technical committees continue to fulfill the requirements for impl
Today at 4:15 am by Rocky
» Economic: Raising the interest rate will reduce real estate prices
Yesterday at 7:20 am by Rocky
» Did Barzani agree in Tehran to end the presence of Iranian groups in Kurdistan? - urgent
Yesterday at 7:16 am by Rocky
» Al-Sudani: We are establishing a new situation for the global energy market through the Development
Yesterday at 7:14 am by Rocky
» Al-Sudani: The government program devoted a wide scope to the government’s vision for oil and gas in
Yesterday at 7:11 am by Rocky
» Al-Awadi: Ending the work of the UNAMI mission is consistent with the government’s vision in this fi
Yesterday at 7:10 am by Rocky
» MM&C Floating the dinar" returns to the forefront.. Will the Central Bank of Iraq resort to it and w
Yesterday at 5:24 am by Rocky
» The Secretary of the Ministry of Defense meets with the Commander of the NATO mission
Yesterday at 5:17 am by Rocky
» Expert: The stability of the economy is linked to the political situation
Yesterday at 5:13 am by Rocky
» A parliamentary request to lift the injustice against 20,000 Iraqi employees
Yesterday at 5:09 am by Rocky
» Parliamentary Finance criticizes the government's failure to send the budget schedules
Yesterday at 5:08 am by Rocky
» Minister of Oil: The 5th and 6th licensing rounds will take place within the framework of exploratio
Yesterday at 5:07 am by Rocky
» Al-Sudani: Iraq is a difficult number in the global market in the field of energy
Yesterday at 5:06 am by Rocky
» Al-Khanjar rejects Al-Halbousi’s request to head Parliament
Yesterday at 5:05 am by Rocky
» Revealing the date of the arrival of the 2024 budget schedules
Yesterday at 5:04 am by Rocky
» Al-Halbousi nominates Talal Al-Zubaie for presidency of the House of Representatives
Yesterday at 5:03 am by Rocky
» "A coup in Iraqi universities"... Replacement of presidents and deans under the new education law
Yesterday at 5:01 am by Rocky
» Al-Sudani: Iraq is a difficult number in the equation of energy and oil wealth in the region and the
Yesterday at 5:00 am by Rocky
» Minister of Oil: We hope to announce an increase in Iraq’s oil reserves to 160 billion barrels
Yesterday at 4:58 am by Rocky
» Iraq's mass graves...stories that did not end with the burial of their owners, and the "legacy of IS
Yesterday at 4:57 am by Rocky