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Al-Kazemi’s advisor identifies Iraq’s debts to the International Monetary Fund and the mechanism for repaying it
Economie Today, 10:51
Baghdad - INA - Nassar Al-Hajj
, the financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, set today, Friday, the date for the expiration of Iraq's debt payment.
Saleh told the Iraqi News Agency (INA): "There are debts owed by Iraq for the benefit of the International Monetary Fund, and
they are loans that were provided after the year 2015 during the financial and security crises against ISIS terrorism at that time, and about that may exceed four billion dollars and according to two successive programs and two tranches:
He explained that "these amounts are currently paid in installments with simple interest periodically and regularly, and
they are part of the remnants of Iraq's remaining external debt that is really payable, which amounts to about 20 billion dollars, paid in installments until the year 2028 mostly."
The Prime Minister’s advisor had confirmed earlier that “the loans of the World Bank in particular are long-term and have grace periods of about 6 years, which often extend to about 14 years, and
the interests on them are moderate, as they are similar to the interest of the London markets on dollar lending transactions (Liber) plus a percentage of A small additional represents the bank commission.
Al-Kazemi’s advisor identifies Iraq’s debts to the International Monetary Fund and the mechanism for repaying it
Economie Today, 10:51
Baghdad - INA - Nassar Al-Hajj
, the financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, set today, Friday, the date for the expiration of Iraq's debt payment.
Saleh told the Iraqi News Agency (INA): "There are debts owed by Iraq for the benefit of the International Monetary Fund, and
they are loans that were provided after the year 2015 during the financial and security crises against ISIS terrorism at that time, and about that may exceed four billion dollars and according to two successive programs and two tranches:
- the first It was called (accelerated financing method) and amounted to more than one billion dollars to support the budget for the year 2015,” noting that
“the other loan between 2016 and 2017 amounted to nearly three billion dollars within the scope of a program called (credit preparedness arrangements).”
He explained that "these amounts are currently paid in installments with simple interest periodically and regularly, and
they are part of the remnants of Iraq's remaining external debt that is really payable, which amounts to about 20 billion dollars, paid in installments until the year 2028 mostly."
The Prime Minister’s advisor had confirmed earlier that “the loans of the World Bank in particular are long-term and have grace periods of about 6 years, which often extend to about 14 years, and
the interests on them are moderate, as they are similar to the interest of the London markets on dollar lending transactions (Liber) plus a percentage of A small additional represents the bank commission.
