Iraqi Debut Might Reach at 132 Billion U.S Dollars in 2018: the IMF

A newspaper has published a report of the International Monetary Fund. The IMF predicted Iraqi next year’s debut at 132 billion U.S dollars/ year and mentioned a number of reasons. The report further indicated that debt of Iraq was at 73.1 billion U.S dollars in 2013 and it reached at 122.9 billion U.S dollars in 2017. The report also predicted that the debt of Iraq might reach at 132.4 billion U.S dollars by the year 2018. The economic and financial condition in the country has confirmed an expected rise in the next year. Al-Mada newspaper further indicated that the financial adviser to the Iraqi Prime Minister, Muhammad Saleh also said that he hasn’t yet seen the IMF report, but there might be 2 issues in any condition. First: 68 percent of the debt number mentioned during the 3 years, the past is the internal debt between government institutions exclusively addressed by the Iraqi Central Bank and the 3 main government banks.

Iraqi Debut Might Reach at 132 Billion U.S Dollars in 2018: the IMFHe pointed out that the external debt actually withdrawn from loans pledged did not exceed 8 billion U.S dollars during the last 3 years. He added that there are international commitments to provide loans to Iraq have really amounted to 16 billion U.S dollars due to the security issues and financial crises that Iraq is facing since mid-2014. He said that Iraq has withdrawn just half of these loan commitments of 16 billion U.S dollars, it is not debts but pledges and become debt only when the withdrawal. He further indicated that there are additional commitments to provide loans to Iraq, including the British loan of 12 billion U.S dollars, which came as we have stated in a pledge to grant loans to spend on Iraqi infrastructure projects. Saleh pointed out that 38 percent of Iraqi debt goes back to the era of the previous regime and is subject to the 2004 Paris Club Agreement.

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