Baghdad Asks KRG to Pay off Foreign Debts Without Receiving Its Share

[tigergorzow]

Baghdad Asks KRG to Pay off Foreign Debts Without Receiving Its Share

Basnews English

19/08/2017 - 15:01

Economy

 

 

 

 

BAGHDAD — An advisor to the Iraqi parliament said that despite withholding Kurdistan Region’s share from the loans it has received, the Iraqi government demands Kurdistan Regional Government (KRG) to pay off a part of the debts.

Madhat Sleman, an advisor to the Iraqi parliament, said that Iraq owes foreign governments around $120 billion. The government has demanded KRG to pay off $4.20 billion of the debt it has never received a penny of, he said.

The Kurdish official warned KRG about such debts, stating “these debts are rising therefore Kurdistan Region should soon get rid of Iraq and declare independence.”

Majid Tamimi, member of the Parliamentary Committee for Financial Affairs, told BasNews “Despite oil and internal revenues, Iraq’s national debt is over $111 billion.”

Ravaged by years of terrorism and suffering from deepening political conflicts, the security and economic situation in Iraq is deteriorating on a steady pace, as believed by many politicians and analysts.

 

http://www.basnews.com/index.php/en/economy/372004

[Synopsis]

Thank You, TigerGorZow, for posting this and all the other articles! 

 

7 minutes ago, tigergorzow said:

Ravaged by years of terrorism and suffering from deepening political conflicts, the security and economic situation in Iraq is deteriorating on a steady pace, as believed by many politicians and analysts.

 

In my opinion, the GOI and all the other associated functions in Iraq need to clearly demonstrate a huge "win" (likely "wins") for the Iraqi people to put them more at ease and less likely to engage in conflicts that lead to sectarian violence that could make for a Civil War. What better way to do that than to inject them all with the opiate of prosperity? The basic issue of personal security and the displacement of impoverishment due to the Saddam regime and subsequent foreign and sectarian conflicts likely needs to be reversed dramatically in Iraq and PRONTO. Otherwise, I am afraid, the gains to date will be reversed and the economic reforms on paper with the associated schedules can be forgotten or put on a much longer schedule.

 

So, I am optimistic that sooner rather than later for the Iraqi reconstruction and explosive economic growth to begin.

 

Just my opinion and 

 

Go Moola Nova!