Iraq agrees to pay $1.7bn dues of 1980s Egyptian workers

ERBIL - Iraq has announced an agreement whereby it will pay the estimated $1.7bn (2bn IQD) dues of Egyptians who worked in Iraq during the 1980s, reports Kuwait News Agency.

A statement from Iraq's Foreign Ministry said that the ministry's Undersecretary for Political Planning Lubaid Abbawi discussed with the Egyptian Assistant Foreign Minister Mustafa Kamal on Thursday an agreement to pay the estimated figure without interest.

The workers were employed by the Iraqi state before the imposition of sanctions on Iraq in 1990 for its invasion of Kuwait. The UN-imposed sanctions meant that Iraq was unable to pay the workers who were forced to return to their home country without their wages.

The debt still needs to be paid after more than 20 years because it is not linked to the Egyptian government but rather to private individuals who worked in Iraq during the 1980s, Egyptians claim.

In December last year economic adviser to the Iraqi government Salam al-Quraishi said the government could not repay the debts due to the deficit in the 2012 budget of $100m (116.5bn IQD).



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ERBIL - Iraq has announced an agreement whereby it will pay the estimated $1.7bn (2bn IQD) dues of Egyptians who worked in Iraq during the 1980s, reports Kuwait News Agency.

In December last year economic adviser to the Iraqi government Salam al-Quraishi said the government could not repay the debts due to the deficit in the 2012 budget of $100m (116.5bn IQD).

Interesting post Fast Eddie; if you do the math the first paragraph shows an exchange rate of 1.17:1. The second paragraph shows an exchange rate of 1165:1. I like it!!