In numbers, the Minister of Finance reveals the size of Iraq’s internal and external debts

  • Time: 05/25/2022 17:11:39
  • Reading: 1,833 times
In numbers, the Minister of Finance reveals the size of Iraq's internal and external debts

  {Economic: Al Furat News} Finance Minister Ali Allawi revealed on Wednesday that the country’s total external and internal debts.

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Allawi said in a statement, of which {Al-Furat News} received a copy, that “the only real commercial debt of Iraq is two of three Eurobonds with an interest rate of 5.8% and 6.72%, while the third at an interest rate of 2.149%, which is guaranteed by the US government.”
He added, “All other debts are on very concessional terms,” noting that “the external debt does not include the debts of the former regime, which amount to 57.8 trillion dinars, or the equivalent of 39.9 billion dollars, and have been frozen since 2003 without interest or payment as part of the work of the Ministry of Foreign Affairs. financial debt reduction.
And Allawi stated, “The ministry has reconfigured all local debts as follows: The balance of all local debts has medium or long-term terms, after the government agreed with the Central Bank and public banks in 2020 to convert all current treasury transfers (bonds) into loans for 10 and 20 years, with the payment of For installments starting from March 2021 and an interest rate reduced to 2%, “while the total external and internal debts amount to more than 99 trillion dinars.”
And he continued, “The Council of Ministers agreed, in its session held on Tuesday, last April 5, to adopt a strategy for repaying the public debt. The internal budget for the years (2022-2024), which was prepared by the Public Debt Department / Ministry of Finance within the draft federal general budget bill for the Republic of Iraq for the fiscal year / 2022.

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