Iraq is seeking to postpone the payment of debts owed to the Paris Club

Saturday July 2, 2016 - 17:21


Iraqi Central Bank announced that Iraq would seek to postpone the repayment of debts owed to the Paris Club of creditor nations confronted with a liquidity crisis caused by the weakness in oil prices.

He said the central bank said in a statement seen by tow that Iraq will be asked to postpone payment until 2019, while expected to receive financial support from the International Monetary Fund over the next three years.

According to the financial adviser to the prime minister appearance of Mohammed Saleh, the Iraqi debt owed to foreign governments $ 15 billion, including nine billion to Paris Club members.

Saleh said in a press statement followed tow that Iraq's annual payments to the Paris Club of around $ 800 million.

Iraq also issued sovereign bonds worth $ 2.7 billion worth in 2028.

It is said that Kuwait agreed last Thursday on Iraq's request to postpone their compensation due to the invasion of the former regime of Kuwait to 2018.

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