A member of the State of Law coalition led by Nuri al-Maliki, Deputy Kata al-Rikabi, saw on Tuesday (May 26, 2020) that the financial situation of Iraq is better than some Gulf countries .
Al-Rikabi said in an interview with (Baghdad today) that “the financial crisis has not only affected Iraq, but the whole world, including the regional and Gulf states.”
He added, “The Iraqi economy is rentier, relying heavily on oil to secure its annual budget, which is more like petrol box (a filling station). We sell oil and receive money that does not come directly but goes to American banks before they reach the country to pay expenses and salaries .”
Al-Rikabi added that “the words of some heads of government that he received the budget is empty, because Iraq is not storing money and what is sold of oil, and we pay salaries and expenses,” stressing that borrowing is not a very serious matter and this is taking place between countries, the World Bank and financial bodies .
Al-Rikabi pointed out that “Iraq has yet to officially announce its intention to borrow from any Gulf country, and despite that we have long suffering with it except for the Emirates that have waived their debts, while there are countries that we are still paying for them, including Kuwait,” adding that “Saudi Arabia is passing through.” The other is in a financial crisis, and talk about the possibility of lending it to Iraq is not tangible, especially since it previously pledged to build a large stadium in Baghdad and nothing has been achieved on the ground . ”
He continued, “The financial situation of Iraq is better than some of the Gulf states now, despite the difficult crisis,” pointing out that “the Minister of Finance’s recent tour is to attract investment and economic cooperation, not to borrow in addition to re-strengthening relations.”
Earlier, the Ministry of Finance denied a statement to it, “The validity of the news circulated regarding Iraq’s request from Saudi Arabia to borrow about $ 3 billion.” And she stressed that “these words are not true.”
Deputy Prime Minister and Acting Minister of Finance and Oil Ali Allawi revealed on Saturday (May 23, 2020) the three-pronged approach to developing relations with Saudi Arabia and supporting the Iraqi economy.