Iraq's external debt including the remainder of the compensation to be paid to Kuwait, ranges between $23-25 billion, the financial advisor to the Iraqi government said.
Mudher Muhammed Saleh told Zawya Projects that the range encompasses Iraq's pre-1990 debt which was reduced by the Paris Club agreement, $2 billion of remaining compensation to Kuwait, and debts racked up during the 2008 financial crisis and the war on ISIS. Allocations for servicing debt in the 2021 federal budget is about 9 trillion Iraqi dinars ($6.16 billion), which represents seven percent of the budget spend.
(Reporting by Majda Muhsen; Editing by Anoop Menon)
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