Parliamentary Finance: $ 500 billion is the size of Iraq's funds in foreign banks
11/23/2020
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Baghdad - Al-Mawred News
, the Parliamentary Finance Reporter, Ahmed Al-Saffar, revealed, on Monday, the estimates of the frozen funds in foreign banks, indicating that the majority of the estimates suggest that there are no less than 500 billion dollars.
According to the official agency, Al-Saffar said, "There are estimates and there are no accurate figures, but the majority indicate that the amount of money outside Iraq is not less than 500 billion dollars."
He added that "the process of accessing funds abroad is very necessary, as it is assumed that there will be a move by the government to retrieve it, especially as it is the easiest way to obtain funds and get out of the crisis."
He pointed out that "if information is available about where the funds are located, with which names are they are registered, and in which banks, the government can resort to international assistance to recover these funds."