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Iraqi Finance: debt file will end in 2010

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Iraqi Finance: debt file will end in 2010

Post  Shilo on Sat Apr 03, 2010 11:13 am

Saturday, April 3rd 2010 9:34 AM

Baghdad, April 3 (AKnews)- The Iraqi Finance Ministry mentioned that it intends to end the file of debts in 2010, noting that most of the creditor countries expressed their willingness to reduce that debt.

"The plan prepared by the Ministry of Finance to reduce the size of the debt is proceeding according to the study made by the Commission on debt reduction, which ended a substantial part of its tasks successfully." The chancellor in the Ministry of Finance Dea Kayon said.

Kayon added that "Iraq has signed an agreement with the Chinese government an agreement to reduce 80% of the debts of the Chinese companies to Iraq, which is another attempt to close this file in 2010 " adding that "China and Korea have shown their desire to establish investment projects in Iraq in return of cutting the debts to approximately 80% of them."

Iraq has been seeking since 2003 to cancel the debts arising on it during the period of the previous regime, which is more than 120 billion dollars of some compensation because of wars; most of them had been dropped, particularly the Paris Club debt amounting to about $ 55 billion.

Iraq is still owed to some Arab countries, including the Gulf States $ 21 billion which is 15 billion dinars to Saudi Arabia and six billion dollars to Kuwait , negotiations are under way to settle them permanently.

http://www.aknews.com/en/aknews/2/131194
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