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Showing results for tags '$ 150 billion looted'.
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The Minister of Finance reveals the amount of the stolen Iraqi funds 2021-03-29 12:52 Shafaq News / The Minister of Finance, Muhammad Allawi revealed, on Monday, that the looted Iraqi funds amounted to $ 150 billion, indicating that Iraq's foreign debts amounted to $ 60 billion. Allawi said in a statement to "Al Sharq Bloomberg" that "Iraqi funds stolen through previous political regimes amount to $ 150 billion, and there is international aid to recover these funds." He explained that "the external debt of Iraq reaches 60 billion US dollars, of which 6 billion are to Iran, which are Iranian deposits. Not all of them represent debts related to import dues for goods such as gas and fuel," indicating that a large proportion of the debts belong to financial institutions. The minister pointed out that the current price of the Iraqi currency against the US dollar after reducing its value will continue for a long time, and a full float may occur in the future, but the central bank will now work to maintain the current exchange rate level for as long as possible.
