July 14, 2010Economist: File debt is an obstacle to the growth of the Iraqi economy
Baghdad, considered an economist today, Wednesday, that the file of Iraq's debt obstacle to the growth of the Iraqi economy, which negatively affects the progress of the country economically.
Kazim said the military told news Kurdistan that "Iraq's foreign debt as a result of misguided economic policies adopted by the former regime in directing resources towards the Iraqi military arsenal on Iraq took a heavy debt of the country will suffer for a long time."
The military said that "huge amounts of money are paid out of Iraq's imports for the purpose of extinguishing the debt accrued, and this will slow down the pace of progress and development of the Iraqi economy to face a deficit in the budget."
Askari said that "government advancement of the economy and stimulate the rapid and serious and spur investment in the country to enable him to apply, like other countries."
It is noteworthy that Iraq's debt, as announced by the IMF up to 120 billion dollars, which is indebted to many countries as well as the amounts requested by the Kuwait compensation for Gulf War II in 1990.
China has decided to abolish the 80% of Iraq's debt to, which amounted to 8,5 billion dollars, according to a statement by the Iraqi Ministry of Finance issued last February after the debt was accumulated on Baghdad during the former regime, while the Arab states refused to turn off the debts owed by Iraq.
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