Iraqi Dinar 123 News :- Iraq had taken loans from different countries due to which several problems had arisen between them. Iraq has started paying off its loans in some way or the other soon after the new government has taken over. They are trying to revive their economy and also build good relations with their neighboring countries. Kuwait was also a good neighbor and Iraq is trying to pay back the loan they had taken from Kuwait. 5.7 million dollars are left of the compensation that Iraq has to pay to Kuwait now.
The compensation is at its final stages and they are almost done with the payments. Kuwait still needs compensation from Iraq through its petroleum items. These items are a good system of managing the loans. This also helps in the exports and sales of the oil products. Iraq has tried to get over its loans by giving compensation in Petroleum items and this way their economic cycle has also got better in several ways. The UN Security Council resolution gave the idea of compensation fund in 1956 for cash oil as well as petroleum and natural gas items. The compensation being paid has brought the neighboring countries closer to each other.