Financial adviser to Abdul-Mahdi reveals the total debt of Iraq

Financial adviser to Abdul-Mahdi reveals the total debt of Iraq

1/18/2020 13:53

Financial adviser to Abdul-Mahdi reveals the total debt of Iraq[Baghdad-where]
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, announced that the total debts of Iraq amount to about 72 billion dollars, the internal debt constituting the largest proportion of it, which amounts to 42 billion dollars.
Saleh said in a press statement today that “the external debt of Iraq is less than 30 billion dollars, and that there is external debt suspended on the Paris Club agreement, which deducted about 80% of debts before 1990, has not been settled.”

He added that “Iraq’s external debt for the pre-1990 phase, amounting to 128 billion dollars, 80% of which was written off under the Paris Club agreement.”

He explained, “There are from 41 to 42 billion dollars belonging to the Gulf states and some other countries that go back to before the year 1990, debts outside the Paris Club agreement.” .

He pointed out that “the debt remaining from the Paris Club agreement is less than 9 billion,” noting that “there are new debts that were arranged as a result of the war with the ISIS terrorist gangs, which estimated about 13 billion dollars.”

He continued, “The remaining amount for countries inside and outside the Paris Agreement, and for international multilateral financial institutions not subject to the Paris Club agreement, is estimated at 28 billion dollars.”

He pointed out that “its payment will be in the form of payments from the year 2020 to the year 2028, each according to its maturity.”

He explained, “The internal debt of Iraq is estimated at 42 billion dollars for the Central Bank, Rafidain, the TPI, and Al-Rashid.”