Economist: Ending Kuwait's debt file will contribute to the recovery of Iraq's money
Saturday 11 December 2021 11:46 | economic Number of readings: 474
Baghdad / NINA / - The specialist in economic affairs, Durgham Muhammad Ali, confirmed that Iraq will be able to recover its frozen assets, obtain foreign debts, and prosecute the smugglers of its money, upon the end of its obligations towards Kuwait.
Muhammad Ali said in a statement to the National Iraqi News Agency / Nina /: "Kuwait is the last episode in the series of Iraq's debts, which falls under Chapter VII, and which restricted Iraq for decades from the possibility of opening banks abroad with government assets, as well as preventing it from recovering frozen funds. and debts."
He pointed out that "Kuwait was the worst cooperating country with Iraq, as most of the countries in the Paris Club waived a large part of their claims, except for Kuwait, which did not give up anything and insisted on biting Iraq's budget every year and restricted its international financial dealings, benefiting from unfair international decisions that harmed Iraq." Iraq".
He added, "The future Iraqi governments should demand Iraq's assets frozen for 30 years, as well as pursue Iraq's smuggled money and demand countries and companies indebted to Iraq."
The economic expert explained: "This step is a very important economic event that will raise Iraq's credit rating and enable it to direct the previously deducted funds to development aspects starting from next year."
And the Central Bank of Iraq announced last Thursday that it had ended the necessary banking arrangements with the US Federal Reserve to stop the automatic deduction of Kuwait's compensation from Iraqi crude oil export revenues.
And he confirmed, in a brief statement, the possibility of paying the remaining amount of compensation in full before the end of the current year 2021 to end this file. /End 8