Economist: Iraq borrowed 70 billion dollars in recent years



23/8/2017 views 7

BAGHDAD (Reuters) - The loans borrowed by Iraq from the countries and the International Monetary Fund (IMF) have reached about 70 billion dollars, the economic expert said on Wednesday, adding that donors are following up their money in the country to prevent tampering with them by corrupt people.

"Iraq has borrowed from many sources, and the total amount is estimated at about 70 billion dollars," Antoine told Iraq News. "Donors have set time limits for Iraq, and Iraq can not overdue the date of return of the funds."

He added that "donor countries and the International Monetary Fund is directly following the process of transmission and distribution of funds on what Iraq needs during the financial crisis and the war," pointing out that "the committees follow-up and control of the operation of the financial loans for Iraq aims to not go money with the corrupt and tampering with it."

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