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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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    Al-Awadi announces a decrease in external debt to about $9 billion during the current year

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    Al-Awadi announces a decrease in external debt to about $9 billion during the current year Empty Al-Awadi announces a decrease in external debt to about $9 billion during the current year

    Post by Rocky Tue 09 Apr 2024, 5:05 am

    Al-Awadi announces a decrease in external debt to about $9 billion during the current year

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    Bassem Al-Awadi



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    Economy News - Baghdad
    On Monday, Iraqi government spokesman Bassem Al-Awadi announced the reduction of external debt to approximately $8.9 billion during the current year 2024.
    Al-Awadi said in a statement, seen by Al-Iqtisad News, that it is “an emphasis by the government on transparency in economic work, and informing public opinion and the national and international media of Iraqi economic performance, and in light of the Council of Ministers’ approval of the recommendations of the Diwani Order Committee 23942, related to regulating borrowing.” The government took a series of executive measures and adopted a package of financial decisions that resulted in reducing the external public debt by more than 50%, bringing the debt down from $19.729 billion in late 2022 to $15.976 billion in 2023. “Righting to approximately $8.9 billion this year.”
    Al-Awadi explained, “These financial steps, (which included stopping a number of borrowing operations due to their delay and lack of productivity, organizing and managing debts and auditing them, and restructuring some debts and directing them to create strategic projects), aim to prevent the Iraqi economy from mortgaging obligations that may affect, in the future, the decision.” Political, or in the path of national development, which coincides with an urban renaissance and infrastructure reconstruction, which opens the way to a promising future and a revitalized economy, in which our current and future generations perform best and obtain the greatest opportunities.”
    He pointed out that "the government organized the process of financing cooperation with the international community in specific contexts, including direct productive borrowing, providing sovereign guarantees to ensure the production of projects carried out by the private sector for the benefit of the government, and sovereign guarantees provided by the government for the benefit of institutions that finance the Iraqi private sector importing production lines for Building factories inside Iraq.
    He stressed that "these steps pave the way for our country's further integration into the international economic cycle, and for the government to adopt the principle of productive borrowing only, which effectively leads to an increase in the domestic product, and the financing of national service and productive projects with economic returns, in a way that ensures their completion and is not delayed."
    Al-Awadi continued, “With these firm steps, the government renews its determination to continue making a qualitative shift in the Iraqi economy, in parallel with tangible development in the services, infrastructure, and social care sectors, which are all the pillars required to meet the aspirations of our people throughout Iraq, and implement the government program with its priorities.” And its targets.


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