Sudani’s advisor explains: External debt must be repaid by 2028 and does not exceed $9 billion.
Sudani’s advisor explains: External debt must be repaid by 2028 and does not exceed $9 billion.
2025-10-19 | 05:50
Alsumaria News- Economy
Advisor issued prime minister For financial affairs, Mazhar Muhammad Salih Today, Sunday, he clarified Iraq’s internal and external debts, noting that the external debt is due for repayment by 2028 and does not exceed $9 billion.
Saleh said in a statement to the official agency, “There is a blurry picture in interpreting the issue of external debt, as the external debts due for repayment until the year 2028 do not exceed 9 billion dollars, which constitutes half of the country’s total external debt, mostly,” indicating that “there are coordinated repayment mechanisms between Ministry of Finance The Central Bank is highly governed and transparent and is settled accurately within a strict program and allocations in Federal General Budget And it is periodically extinguished with the international creditor community.”
He added that “the total external debt does not exceed what was mentioned above, and that the amounts mentioned in the Central Bank’s letter require interpretation, as…Iraq He is not obligated to pay it, especially the amount of $41 billion, as it is subject to an agreement. Paris Club” For the year 2004, which wrote off 80% or more of those debts related to the Iran-Iraq war, or what are called pre-1990 debts,”
he continued. “As for the domestic debt referred to in the Central Bank’s letter, it is the result of the accumulation of financial – security, financial, and health crises that the Iraqi economy has been exposed to over the past decade and since the war on ISIS terrorism. This has been accompanied in recent years by severe geopolitical factors that have exposed global oil markets to a decline in prices due to the decline in growth in the global economy,” he explained. “The borrowing undertaken by the current government as domestic debt constitutes only 18% of the total precautionary domestic debt included in the budget.” Federal General(The three-year budget) pursuant to Law No. 13 of 2023 for the years 2023-2025).
He stated that “what is referred to as the domestic debt, amounting to about 91 trillion dinars, is mostly in the possession of the government banking system and under high-level financial and technical management,” noting that “there are specialized committees working in cooperation with international consulting companies to convert a large portion of that domestic public debt into productive investment tools within fund” My country is managing the aforementioned domestic debt in a way that aims to stimulate the real economy and transform debt obligations into investment opportunities in the real sector of the Iraqi economy,” he explained, adding that “Iraq is currently experiencing its most stable period due to the strength of foreign reserves, which serve to stabilize the purchasing power of the Iraqi dinar and achieve sustainable development.”
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