Parliamentary Finance: Iraq's external loan interest will amount to 3%



30/11/2017 08:34 | Number of readings:

Trend Press / Baghdad



The Parliamentary Finance Committee stated that the interest rates specified in Iraq's foreign loans are 1-3%, indicating that the annual repayment ratio of all old and new loans ranges from 7 to 8 trillion dinars annually.

"Iraq agreed with the donor countries that the interest rates should not exceed 1-3 percent, including the Japanese, German and American loans," member of the committee Hossam al-Aqabi said in a press statement on Thursday.

"Most of the loans have been used for ongoing investment projects," he said.

He pointed out that "Iraq will pay the old and new loans between 7 - 8 trillion dinars annually."

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