The Prime Minister’s economic advisor, Mazhar Muhammad Salih, announced, on Wednesday, that the total debts owed by Iraq amount to about 20 billion dollars, stressing that they are paid according to timetables and have allocations in the general budget, among the benefits of Iraq’s exit from the list of high-risk countries. in money laundering and terrorist financing.
Salih said in an interview seen by / the information /, that “raising Iraq’s name from the list of high-risk countries is an important achievement for financial integration with Europe, because it is the global financial center, which will give Iraq an opportunity to have its financial dealings wider and reduce the costs of credit risks, and it will be Dealing with bank correspondents is easier.”
He added, “This positive plan has made Iraq a part of the international financial environment. As for Iraq’s remaining on the list, it is evidence of the siege. Britain preceded last year by raising the name of Iraq and today the European Union, which is a great victory for Iraq and the financial and banking sector, and before raising the name of Iraq from the list, all of Iraq’s transactions were taken into account of usury and fear of it, which affected the cost of trade and finance and the disruption of financial transactions.”
Saleh pointed out that “the European Union had doubts, and they did not exist. Crimes and violations exist in all parts of the world. As for Iraq’s transactions, they are clean and subject to compliance, because the transfer of funds is subject to many criteria, and every amount that comes out of Iraq is informationally filtered,” noting that “there is international cooperation between Iraq and the anti-money laundering bodies in the world and with the international financial team responsible for these issues, and Iraq is an important member of this team, and all these points are positive and are in the interest of Iraq and improve its integration into the global financial and banking environment.”
He explained, “Iraq has completed compensation for Kuwait and paid $52.4 billion, and all the million debts go back to the debts before 1990 and were resolved in the (Paris Club) agreement signed by Iraq in 2004 and it has written off 80% or more of Iraq’s debts, and the countries that Its debts with Iraq were not settled prior to 1990, as these debts have eroded with the passage of time and 40 years have passed, noting that “some foreign debts were generated during the war on (ISIS), and the total debts owed by Iraq amount to about 20 billion dollars and are paid according to timetables and have Allocations in the general budget. finished/25