Iraq looks to settle debt with Jordan and Egypt; Arab countries hold firm on debt owed, despite huge reductions by China, Russia, and Japan

Posted by on Oct 29, 2013 | Leave a Comment

Iraq’s Debt Settlement With Egypt And Jordan
On October 23, 2013 According to press sources Jordanian, on Wednesday, the Iraqi government has authorized the Iraqi Minister of Finance and the Governor of the Central Bank of negotiation and debt settlement Jordanian and Egyptian on Iraq, according to an agreement, “the Paris Club.”

Said Jordan News Agency “Petra” in the news of her day: that “The Iraqi government has decided to settle the money that the Jordanian government to act and to present the settlement if finalized,” indicating that it “will be also with respect to funds Egyptian.” mentions that “the Economic Club of Paris” had in 2004 decided to write off Iraq’s debts , which is an informal group of financiers from 19 countries of the richest countries in the world that offer financial services such as debt restructuring, debt relief and debt cancellation on the debtor and creditor countries and identifies the International Monetary Fund names of those States.

estimated specialists total debt of Iraq because of the policies of the former regime at 115 billion dollars has been waived Russia for more than 90% of its debt and China about 80% of the debt and the United Arab Emirates all debts, while Japan has ceded 85% of its debt and promised to consider the remaining amount, as did many countries.

expresses observers for surprise of the insistence of Arab countries to keep their debts against Iraq despite the change of the former regime, while pointing out that there are “greatly exaggerated” in talking about the size of the amounts due against Iraq, two references of this command to political attempts to pressure to extract concessions bigger and that this would There is a state of extreme confusion between real debt and declared figures for political purposes, according to Almokhtsa.

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