Parliamentary Finance: $ 500 billion is the size of Iraq’s funds in foreign banks

Editing date: 11/23/2020 16:56 • 82 times read

[Baghdada – Where]

Parliamentary Finance Reporter Ahmed Al-Saffar revealed, on Monday, the estimates of the frozen funds in foreign banks, indicating that most of the estimates suggest that there are no less than 500 billion dollars.

According to the official agency, Al-Saffar said, “There are estimates and there are no accurate figures, but the majority indicate that the volume of funds outside Iraq is not less than $ 500 billion.”

He added that “the process of accessing funds abroad is very necessary, as it is assumed that there will be a move by the government to retrieve it, especially as it is the easiest way to obtain funds and get out of the crisis.”

He pointed out that “if information is available about the whereabouts of the funds, in which names are they are registered, and in which banks, the government can resort to international assistance to recover these funds.”

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