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A parliamentary committee: We need a diplomatic move to stop interest payments on Iraq’s debts

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A parliamentary committee: We need a diplomatic move to stop interest payments on Iraq’s debts




Baghdad - Mawazine News
, The Oil and Energy Committee in the House of Representatives confirmed on Saturday that Iraq needs a diplomatic move to stop or reduce interest payments on its debts.
Member of the Committee, Sadiq Al-Sulaiti said, "Iraq’s debts are large due to the previous budgets, which requires the payment of interest. Therefore, we need a diplomatic move to stop or reduce interest payments."
He added that "there are several proposals submitted to the Ministry of Oil with a formal letter to take appropriate measures, including reducing the cost and costs of extracting oil, as it differs between extracted through national companies and licensing tour companies."
He called Sulaiti, to "the formation of specialized committees to reduce the expenses of rounds of petroleum licensing and activating the role of the joint administration and the transfer of exchange powers specified twenty million dollars and reduced to five million dollars and follow-up retail orders and supplements contracts", stressing the need to "check all expenses of licenses and the health of the doors of spending with Canceling security companies ’contracts or reducing them to 25% and assigning the Ministry of Interior and Defense to provide land for these companies.
She drew attention to “the importance of completing the measurement and calibration requirements for all pumping stations and receiving export outlets according to international calibration certificates in addition to reducing the purchasing powers of public companies and restricting them to the Ministry’s agents for the necessary matters only,” calling for “the formation of committees to review and evaluate liquidation contracts for investment refineries and recalculate the quantities of crude oil The supplier and calculation of the products resulting from the liquidation according to internationally approved standards and the endeavor to establish government refineries through financing from internal borrowing.
He stressed "the necessity of checking the quantities of crude oil produced and prepared by the region, numbering the accounts in which the sums are deposited and developing a plan in coordination with the security agencies to stop the smuggling of crude oil and oil derivatives that cause a waste of public money." Ended 29 / A 43

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This is the value of Iraq's domestic and foreign debt




Baghdad - Mawazine News
, Central Bank Governor Ali Al-Alaq revealed on Saturday that Iraq’s external debts amount to about 23 billion dollars, while internal debts amount to about 40 trillion Iraqi dinars.
The relationship said in a study seen by / Mawazine News /, about "reducing the exchange rate of the Iraqi dinar determinants and alternatives", and published by the official website of the Central Bank, that "the external debt of Iraq is about 23 billion dollars, except for the outstanding debt before 2003 of $ 40.9 billion" , Noting that "the internal debts amount to about 40 trillion dinars, representing treasury transfers and bonds with government banks and the Central Bank of Iraq."
The relationship added, “When a country is in debt and pays its debts and interest in the currency of the creditor country, the burden of the debts resulting from it in this case increases in the general budget of the state where a greater amount of its national currency is allocated to pay off its debt in foreign currency,” continuing: “If the country is The debtor pays in his national currency, for he pays the same amount of debts and interest. "Ended 29 / p

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