Shukri: Egypt’s debt on Iraq to solve the Paris Club agreement
Shukri: Egypt’s debt on Iraq to solve the Paris Club agreement
11/23/2013
BAGHDAD / JD / .. Minister of Planning Ali Shukri Yusuf, Minister of Finance and the agency he is no way to settle the Egyptian government debt to Iraq, but to join the Convention on the “Paris Club”.
Said Shukri told the reporter / JD / that Egypt on Iraq government debt of $ 800 million dollars, were paid $ 400 million fully to the private sector what is called a “hawala yellow” Egyptian labor that existed in Iraq in the eighties of the last century.
He continued that we Pena to officials in Egypt that Iraq binding agreement “Paris Club” and can not be paid off debt, but through this agreement, indicating that they understand the situation after that showed clearly that no way to settle this debt, but to join this Convention.
The Cabinet decided last October to authorize the Minister of Finance the authority to negotiate with the Egyptian government to settle the debts on Iraq to be presented to the Council of Ministers of the settlement, Mbinna also authorized the central bank governor the authority to negotiate with the Jordanian government to settle the debts on Iraq.
The “Paris Economic Club” had decided during the 2004 write-off of Iraq’s debt, which is an informal group of financiers from 19 countries of the world’s richest countries, which provides financial services such as debt restructuring, debt relief and debt cancellation to indebted countries and their creditors and determines the IMF International names of those States.
It is estimated specialists total debt of Iraq because of the policies of the former regime by about 115 billion dollars has been waived Russia for more than 90% of its debt and China about 80% of the debt and the United Arab Emirates for all debts, while Japan has ceded 85% of its debt and promised to consider the remaining amount , as did many of the states. / End / / 23
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