An economist explains the most important ways to get rid of internal and external debts
economic Last update 12/12/2021 | 8:41 AM
The economic expert, Dr. Safwan Qusay, explained that Iraq has the possibility to get rid of internal and external debts by relying on public and private sector companies and transfer part of the debt towards these companies and internal and external investments.
Qusay told Al-Maalouma, "Iraq does not currently need internal or external borrowing, and it should work at the present time to gradually reduce and zero its debts over the next five years."
He added, "The next government, if it thinks of paying, can transfer a portion of the indebtedness to the private sector and profit-oriented public companies, as a path to repay these internal debts."
And he indicated that "Iraq can pay off foreign debts by forcing the investor to buy debts for specific investment opportunities, especially at the level of profitable opportunities in the petrochemical industry or other industries."
He pointed out that "if the government adopts the method of investing in exchange for debt purchase, or reducing the indebtedness of the Ministry of Finance in some public companies in exchange for transferring this internal indebtedness to the profitable oil and transport companies, it is possible to zero the debts." finished 25