Economists warn of increasing Iraq's debt and "deal" with the Gulf states, "rejected" the Paris Club standards
BAGHDAD / Zahraa Hamid
The economist said Majid picture, in an interview to the (long - Presse), said that "many Iraqi and foreign sources confirm that Iraq 's internal debts amounting to up to 43 trillion dinars and external limits of $ 70 billion, excluding labeled Balqdhirh debt, related to Saudi Arabia and the UAE," returned to " the high that debt for current rates can lead to great danger on the Iraqi economy, the fact that GDP is 79% constitute debt 77% of it."
Suri said that "the countries that exceed debt the size of their domestic production GDP ratio, has a strong economy and more loans productivity rather than a consumer , "noting that" the seriousness of the Iraqi debt is that most of them aimed to cover consumption expenditure or operational. "
in the same context, it announced the Ministry of Finance, it has discussed with the World Bank on thechallenges facing the Iraqi economy, noting that he hoped Showing these studies and discussions on theCouncil of Ministers before the end of this year for approval.
the ministry said in a statement received "long" version of it, that " the head of the Ministry of Finance delegation Fadhil Nabi Othman discussed during his participation in the annual meetings of the Bank and theinternational Monetary Fund with the head of the Middle East division . in international Farid Belhaj Bank and experts of the World Bank working in Iraq diagnostic study of the Iraqi economy prepared by the World Bank. " the
ministry added that" the talks also included the challenges facing the Iraqi economy at the current stage and ways to address them in the near and long term , "pointing out that" it is hoped these studies and discussions presented to the cabinet by the end of this year for approval. "
the IMF is a specialized agency of the Bretton Woods system of the United Nations, was established under aninternational treaty in 1945 to work on enhancing the safety of the global economy and currently being held itsannual meeting in Washington to discuss economic and financial issues facing the global economy andmonetary system in the world.
for his part, said in an interview that " the special Iraqi debt the size of the numbers, is not accurate economic Kazem al - Hassani adviser said, to (long - Presse)," pointing out that "most of those debts internal, not external, taken from Iraqi banks means they governmental organizations. "
al - Hassani said that" there are two types of external debt, new and old relate to pre - stage in 2003, private debt Paris and compensation Kuwait , "noting that" Iraq 's debt to the Gulf countries is not an asset and debt recognized. "
Hasani stressed that" the debt is usually within the agreements between states , but Gulf debt is recognized by the Iraqi side because they did not come into agreement with them, with the exception of Kuwait being covered by United Nations resolutions and the UN Security Council, for compensation, not debt. " In turn, theeconomist said Ahmed Rehn, said in an interview to the (long - Presse), " The concerned authorities have not issued during the past three years, fundamentalist data attached to the budget, allows to understand thefinancial situation in Iraq and the size of the internal and external indebtedness , " stressing that " theconcerned authorities it should have issued detailed data on internal debts and those owed to other countries and international financial institutions and even the dues were not paid Iraqis and foreign contractors , they constitute another form of debt. "
he called Bureihi the House of Representatives to" pay attention to the debt of Gulf states not recognized by Iraq, because those countries did not agree to accept the Paris Club standards similar to other foreign countries, and has so far refused to deal with the criteria for the club. "
the investment Committee parliamentary expressed in the (18 August 2016), expressed concern over theinability of Iraq fulfill repay its debts, especially obtained More recently, as a result of the continued decline ofoil prices with the shortfall the budget and the costs of the war against the (Daesh).
the government and international friendly countries, banks negotiate to obtain long - term soft loans, amounting to about $ 30 billion.
this comes lending as a result of the lack of state financial revenues and the absence of alternative oil productive sectors reliable despite the existence of economic fundamentals , which can be utilized to maximize the financial resources of the state.
[You must be registered and logged in to see this link.]