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Economist: Iraq will inflict major damage if external borrowing continued
21/07/2015
Banking expert formerly head of the Association of private banks Abdul Aziz Hassoun said that the treasury will inflict significant damage to Iraq if the financial external borrowing continued.
Hassoun said that "Iraq continues to borrow large sums of money have negative discharge will affect the treasury financial state and affect the credibility of the state in paid and in failing to external liabilities, resulting in significant damage to the financial position of the state", calling for "domestic borrowing on concessional terms."
The Ministry of Finance has signed with the World Bank earlier this month on a loan of $ 350 million repayment duration of 15 years.
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21/07/2015
Banking expert formerly head of the Association of private banks Abdul Aziz Hassoun said that the treasury will inflict significant damage to Iraq if the financial external borrowing continued.
Hassoun said that "Iraq continues to borrow large sums of money have negative discharge will affect the treasury financial state and affect the credibility of the state in paid and in failing to external liabilities, resulting in significant damage to the financial position of the state", calling for "domestic borrowing on concessional terms."
The Ministry of Finance has signed with the World Bank earlier this month on a loan of $ 350 million repayment duration of 15 years.
[You must be registered and logged in to see this link.]
