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Al-Sudani's advisor: Iraq's loans are $8.7 billion, which is small compared to imports
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2024-10-29 05:03
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2024-10-29 05:03
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Shafaq News/ Mohammed Al-Daraji, the Iraqi Prime Minister's advisor for technical affairs, stated on Tuesday that Iraq's foreign loans exceeded 8 billion dollars, stressing the federal government's efforts to reduce pressure on the dinar exchange rate by diversifying dealings in other currencies.
This came in his speech during his hosting of a dialogue seminar entitled "Making Iraq Investable: Challenges and Opportunities", on the sidelines of the Middle East Research Institute (MERI) Forum held in Erbil, the capital of the Kurdistan Region.
Al-Daraji said during his hosting that Iraq's loans are 8.7 billion dollars, which is a small percentage compared to the country's huge imports, so we have opportunities and the ability to take loans, but we do not do that, but rather we care about attracting traders and businessmen to invest.
He added that the law on sovereign loans to finance industrial projects, which was recently approved by the Iraqi parliament, will contribute to developing industry and operating the Iraqi private sector, expecting that the private sector will join the international community economically, and from here to 10 years it is possible for the private sector to build a resume for itself so that international banks will finance its projects.
Al-Daraji continued by saying: We will also reduce the exit of the petrodollar from the country, and reduce the pressure on the dinar to control the exchange rate by diversifying dealings in currencies, including the euro.
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This came in his speech during his hosting of a dialogue seminar entitled "Making Iraq Investable: Challenges and Opportunities", on the sidelines of the Middle East Research Institute (MERI) Forum held in Erbil, the capital of the Kurdistan Region.
Al-Daraji said during his hosting that Iraq's loans are 8.7 billion dollars, which is a small percentage compared to the country's huge imports, so we have opportunities and the ability to take loans, but we do not do that, but rather we care about attracting traders and businessmen to invest.
He added that the law on sovereign loans to finance industrial projects, which was recently approved by the Iraqi parliament, will contribute to developing industry and operating the Iraqi private sector, expecting that the private sector will join the international community economically, and from here to 10 years it is possible for the private sector to build a resume for itself so that international banks will finance its projects.
Al-Daraji continued by saying: We will also reduce the exit of the petrodollar from the country, and reduce the pressure on the dinar to control the exchange rate by diversifying dealings in currencies, including the euro.
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