Baghdad Asks KRG to Pay off Foreign Debts Without Receiving Its Share

 

BAGHDAD — An advisor to the Iraqi parliament said that despite withholding Kurdistan Region’s share from the loans it has received, the Iraqi government demands Kurdistan Regional Government (KRG) to pay off a part of the debts.

Madhat Sleman, an advisor to the Iraqi parliament, said that Iraq owes foreign governments around $120 billion. The government has demanded KRG to pay off $4.20 billion of the debt it has never received a penny of, he said.

The Kurdish official warned KRG about such debts, stating “these debts are rising therefore Kurdistan Region should soon get rid of Iraq and declare independence.”

Majid Tamimi, member of the Parliamentary Committee for Financial Affairs, told BasNews “Despite oil and internal revenues, Iraq’s national debt is over $111 billion.”


Ravaged by years of terrorism and suffering from deepening political conflicts, the security and economic situation in Iraq is deteriorating on a steady pace, as believed by many politicians and analysts.