Iraq Repays more than $20bn in Foreign Debt - Panorama Insurance Brokers

Iraq Repays more than $20bn in Foreign Debt

Iraq has paid back more than $20 billion in foreign debt, the head of the parliamentary finance committee Haitham Al-Jubouri has said.

“Iraq’s foreign debt amounted to more than $50 billion. More than $20 billion was paid back over the last period,” Al-Jubouri told the Iraqi news agency.

According to the official, Iraq still owes $27 billion to foreign countries, in addition to $41 billion to Saudi Arabia given as a grant to the late Iraqi President Saddam Hussein.

(Source: Middle East Monitor)

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Since its launch in February 2010, Iraq Business News has grown rapidly to become the leading news service for all who are interested in the development of Iraq.