Financial Announces pay $ 500 million in premiums and benefits Paris Club debt

Tuesday July 5, 2016 - 11:02


Ministry of Finance announced on Tuesday, paid for $ 500 million in premiums and benefits of debt to Paris Club countries, pointing out that the shots within the external debt settlement on Iraq achieved before 1990 agreements.

The ministry said in a statement briefed tow a copy of it, it was "fired the payment of premiums and benefits due on the first of July present."

He added that "owed by Iraq benefits that have been paid amounted to 500 million dollars," noting that "these amounts come under signed with the Paris Club countries and nations outside the Paris Club of bilateral agreements."

Iraq seeks to cancel the debts arising during the reign of the former regime, amounting to more than $ 140 billion, some of which go back as compensation because of wars with its neighbors and other commercial debts.

Iraq had been able to write off $ 100 billion of Paris Club debt amounting to 140 billion dollars after Iraq unilaterally signed with these countries debt towards Iraq cut by 80% including the Convention, while there were some countries of the Paris Club agreement with Iraq to write off 100 % of Iraq's debt trend.

The Paris Club, the economic is an informal group of Almmoliyn from 19 countries of the world's richest countries, which provides financial services such as debt restructuring, debt relief, and debt cancellation to indebted countries and creditors and the IMF had identified the names of those States after alternative solutions It has failed.


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