CBI: Iraq is seeking to delay repayment of its debt to the Paris Club to 2019
Central bank: Iraq is seeking to delay repayment of its debt to the Paris Club to 2019
History of edits:: 1/7/2016 23:40
The Iraqi Central Bank announced on Friday that Iraq "will seek to postpone the payment of debts owed to the Paris Club of creditor nations , " confronted with a liquidity crisis caused by the weakness of oil prices in addition to the cost of the war against al Daash.
He said the central bank said in a statement that Iraq will be asked to postpone payment until 2019 , while expected to receive financial support from the International Monetary Fund over the next three years.
Most of Iraq 's sovereign debt was agreed upon during the previous regime , which was overthrown by US - led invasion in 2003.
According the appearance of favor Almsschar financial to the Prime Minister, the Iraq 's debt owed to foreign governments $ 15 billion , including nine billion to Paris Club members.
Saleh said that Iraq 's annual Paris Club payments of approximately $ 800 million.
Iraq also issued sovereign bonds worth $ 2.7 billion worth in 2028.
He gave the international Monetary Fund in May , preliminary approval to provide $ 5.4 billion over three years to help Iraq -aledo Organization Aopk- to bridge the budget deficit.