Parliamentary Finance announces the cancellation of all foreign loans in the 2021 budget
The Parliamentary Financial Committee announced, on Wednesday, the cancellation of all foreign loans in the draft budget that was handed over to the government, indicating that any loan that the government will offer during the current year will be rejected.
A member of the Finance Committee, Ahmed Al-Saffar, said that “the last-minute amendments to the draft budget of 2021, according to which all loans made by the government were canceled.”
He added, “What is in it is only the old, valid loans, and we did not agree to any new loan,” noting that “Parliament will reject any new loan that the government offers during the current year unless it is classified exclusively for investment projects.”
He explained that “any loan submitted by the government will be repaid from the proceeds of the investment project, and the project remains the capital of the country and Iraq does not incur any debts.” Source: All Iraq News