Ther we go again Iqd Iraq
Transcript:
The prime minister. Iraq has sustained a stable B credit rating, a speculative grade that signals moderate financial risk for 10 consecutive years while cutting its foreign debt to just $9 billion, Prime Minister Muhammad Shia al-Sudin’s economic adviser Masar Muhammad Salah said on Monday.
The prime minister’s economic adviser Masar Muhammad Salah told Shafuk News that remaining obligations include residual arrears from the 2004 Paris Club settlement an international deal that restructured most of Iraq’s debt after the fall of the Baath regime in 2003 as well as several commercial debts scheduled for clearance by 2028 and loans from development funds for liberated areas which are expected to be fully repaid within the next decade.
External debt currently stands at only 7–8% of gross domestic product, while total public debt, domestic and foreign combined, is between 35 and 40% of GDP, Salah said, noting that both figures remain far below the international safe ceiling of 60%.
According to Salah, fluctuations in oil prices since 2014 forced Iraq to rely on domestic borrowing, which has now reached around 92 trillion dinars. Half of that amount is held in the Central Bank of Iraq’s investment portfolio.
Salah stressed that these debts are fully covered by liquidity and foreign reserves that exceed 100%.
