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Iraq’s external debt reduced to $9 billion

Baghdad ( – The Iraqi authorities uncovered that it succeeded in decreasing external debt by more than 50 p.c from the close of 2022 until finally 2024.

The spokesperson for the Iraqi government, Basem Al-Awadi, stated that the external personal debt diminished to about $9 billion in 2024, in contrast to $19.72 billion in 2022, in accordance to the Iraqi Information Agency (INA).

Al-Awadi explained in a assertion that the govt adopted numerous govt steps and approved a set of economic options, resulting in a a lot more than 50 per cent reduction in the exterior credit card debt, which dropped to about $8.9 billion in 2024.

The Iraqi formal spelled out that the govt took ways these kinds of as restructuring particular debts and directing them to be made use of for critical initiatives, in addition to canceling financial loans that had been unproductive.

Al-Awadi pointed out that the govt presented sovereign guarantees to guarantee the completion of non-public sector initiatives carried out for the authorities&#8217s gain but only permitted economical cooperation with other countries in certain situation, these kinds of as direct effective borrowing.

The article Iraq’s exterior credit card debt reduced to $9 billion appeared initial on Iraqi News.