dinardude10 Posted January 3, 2011 Report Share Posted January 3, 2011 Anyone have any info on how the Paris Club is going to view their timeline (1/1/11) on their debts owed by Iraq. Did Iraq receive an extension?? Link to comment Share on other sites More sharing options...
jwonder Posted January 3, 2011 Report Share Posted January 3, 2011 Iraq Debt and the Growth of the Dinar: The country is devoid of debt according to the Paris club agreements. Over 80% of its debt owed under the Saddam-led government has been written off. Read more: Hope this helps. 1 Link to comment Share on other sites More sharing options...
rgsmiths Posted January 3, 2011 Report Share Posted January 3, 2011 The following is official.. from the CBI web site http://www.cbi.iq/index.php?pid=GovernmentSecurities This to inform with facts Government Debt Total government debt is estimated to be $60.05 billion in 2010. This represents 72% of GDP and is comprised of the following components: External debt ($45.09 billion) Domestic t-bills ($5.55 billion) Bank debt ($9.41 billion) External Debt Following the ouster of the regime in spring 2003, Iraq’s external debt was estimated to be between $130-$140 billion. Reducing this debt to a sustainable level has been a priority since 2003 and debt relief negotiations have taken place in a variety of forums. This has led to the cancelation of a significant amount of Iraq’s external debt. Iraq’s external debt is comprised of four components: Paris Club bilateral debt ($42.5 billion) Non-Paris Club bilateral debt ($67.4 billion) Commercial debt ($20 billion) Multilateral debt ($0.5 billion) Debt relief negotiations first led to an 80% reduction of the Paris Club debt. The Paris Club agreement also set the terms for non-Paris Club and commercial debt cancelation levels. A provision of the Paris Club agreement is that Iraq cannot accept a debt cancellation agreement with other creditors on more favorable terms for Iraq than those reached with the Paris Club. Thus, Iraq is expected to receive no more than an 80% cancelation from all of its creditors. Negotiations with non-Paris Club creditors are ongoing (mainly with Gulf countries except the UAE), and resolution of the commercial debt is largely complete. External debt is estimated to be at $45.09 billion in 2010 (see government debt above). Government Bonds (part of external debt) Security Name IRAQ 5.8 01/15/28 Announce Date 04.01.2006 Issue Date 19.01.2006 Maturity 15.01.2028 ISIN Code XS0240295575 Redemption Value 100 Par Amount 1000 Amount Issued $2,700,000,000 Country Full Name Iraq Coupon (%) 5.8 Coupon Frequency 2 Currency USD The material above should not be considered an offer or solicitation to buy or sell securities Link to comment Share on other sites More sharing options...
carlablum Posted January 3, 2011 Report Share Posted January 3, 2011 (edited) Thank you rgsmiths, Here is a little more info that helped me to better understand the paris club issue. It's a lot of info but it is sure interresting. Carla Ali Merza Chief Technical Advisor United Nations Department of Economic and Social Affairs http://www.aitrs.org...c_res/lre16.pdf The following is official.. from the CBI web site http://www.cbi.iq/in...nmentSecurities This to inform with facts Government Debt Total government debt is estimated to be $60.05 billion in 2010. This represents 72% of GDP and is comprised of the following components: External debt ($45.09 billion) Domestic t-bills ($5.55 billion) Bank debt ($9.41 billion) External Debt Following the ouster of the regime in spring 2003, Iraq’s external debt was estimated to be between $130-$140 billion. Reducing this debt to a sustainable level has been a priority since 2003 and debt relief negotiations have taken place in a variety of forums. This has led to the cancelation of a significant amount of Iraq’s external debt. Iraq’s external debt is comprised of four components: Paris Club bilateral debt ($42.5 billion) Non-Paris Club bilateral debt ($67.4 billion) Commercial debt ($20 billion) Multilateral debt ($0.5 billion) Debt relief negotiations first led to an 80% reduction of the Paris Club debt. The Paris Club agreement also set the terms for non-Paris Club and commercial debt cancelation levels. A provision of the Paris Club agreement is that Iraq cannot accept a debt cancellation agreement with other creditors on more favorable terms for Iraq than those reached with the Paris Club. Thus, Iraq is expected to receive no more than an 80% cancelation from all of its creditors. Negotiations with non-Paris Club creditors are ongoing (mainly with Gulf countries except the UAE), and resolution of the commercial debt is largely complete. External debt is estimated to be at $45.09 billion in 2010 (see government debt above). Government Bonds (part of external debt) Security Name IRAQ 5.8 01/15/28 Announce Date 04.01.2006 Issue Date 19.01.2006 Maturity 15.01.2028 ISIN Code XS0240295575 Redemption Value 100 Par Amount 1000 Amount Issued $2,700,000,000 Country Full Name Iraq Coupon (%) 5.8 Coupon Frequency 2 Currency USD The material above should not be considered an offer or solicitation to buy or sell securities Edited January 3, 2011 by carlablum 1 Link to comment Share on other sites More sharing options...
djgabrielie Posted January 3, 2011 Report Share Posted January 3, 2011 Topic moved from rumor to question... wrong forum 1 Link to comment Share on other sites More sharing options...
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