Tishwash: Iraq’s foreign debts exceed $ 30 billion
Today, Friday, the Parliamentary Finance Committee revealed the volume of external and internal debts owed by the Iraqi government.
Committee rapporteur, Ahmad Al-Saffar, said, “His committee has stopped external borrowing since 2019, but the financial crisis, the Corona pandemic, and the government’s inability to pay the salaries of employees prompted us to approve an external borrowing only once without recurrence, in the amount of $ 5 billion from the World Bank, in addition to borrowing more. From 15 trillion dinars from Iraqi banks to secure the salaries of employees for the current year.
Al-Saffar confirmed that “ Iraq’s external debts have exceeded 30 billion dollars, while the internal debts exceed 15 trillion Iraqi dinars, pointing out that his committee obligated the government to implement a program of financial and economic reforms within 60 days. The deadline expires on the twenty-fourth of this month and includes controlling other financial revenues and rationalizing “Spending and not being totally dependent on oil.”
Al-Saffar warned of “the negative consequences of external debts on the living conditions, stressing the use of external borrowing and directing it towards productive projects that promote the economy and push the pace of development towards the better without any unsuccessful accumulation of debts. link