Al-Sudani's Advisor: Iraq Will Soon Go From Debtor To Creditor - "Only 9 Billion Foreign Dollars Left"
Mazhar Mohammed Salih, the financial advisor to the Prime Minister, announced that Iraq has emerged from the dangers of foreign debts, and has gotten rid of this burden for the first time, indicating that the remaining debts to international parties constitute only less than 9 billion dollars and will be paid until 2028.
Iraq within safe range to pay off $20 billion in foreign debt - Financial Advisor
Saleh explained in a statement to the official newspaper, which was followed by the 964 network , that “Iraq, after getting rid of the heavy burden of its debts, has transformed from a country indebted to others to a country that can be a creditor to others,” noting that the country is called the “young creditor” because it possesses a degree of youth in the economic aspect, which raised its credit rating, despite the problems of the region.
He added that "Iraq has gotten rid of the burden of foreign debts for the first time, which had shackled it economically," noting that "what remains of its debts to international parties constitutes only less than 9 billion dollars that will be paid between now and the year 2028."
He stressed that "Al-Sudani placed reforming the country's financial system among the priorities of the government program, which resulted in achieving important steps during the past two years."
He explained that “debts are paid off through allocations in the federal general budget,” noting that “the ratio of debt to GDP does not constitute a burden on the state, as it amounts to an estimated 5 percent of GDP.”
He considered Iraq “a well-fortified country, in terms of external debt, and that it is outside the risks of external debt, which gives the country high credit at the present time,” noting that “internal debts are confined within the government banking system.” https://964media.com/487617/
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