Iraq will pay at least $6 Billion debt of Kuwait very soon

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A member of the Iraqi Parliamentary Economic & Investment Committee Najiba Najib has confirmed that Iraq has planned to give back its debits estimated at 6 to 9 billion U.S dollars to the State of Kuwait.

She also pointed out that Iraqi government has collected a loan in order to support the Iraqi federal budget 2016 for the next 2 years from the International Monetary Fund. She added in her press statement that recent agreement between the government of Iraqi and the International Monetary Fund (IMF) will provide more than 20 billion U.S dollars to Iraq including the amount adjustment by Kuwait. She added that Kuwait government has postponed the compensation for Iraq because Iraqi government was unable to pay amount to Kuwait for the last two years.

Iraq and Kuwait relations

Najiba Najib further added that at least 13.6 billion U.S dollars will be allocated to support the Iraqi federal budget 2016, Iraqi federal budget 2017 and Iraqi federal budget 2018. She pointed out that at least 6 to 9 billion U.S dollars will be used to pay off the debt amount to Kuwait. She further indicated that the debt amount of more than 55 billion U.S dollars is payable to the government of Kuwait. She pointed out that Iraqi government and International Monetary Fund finalized an agreement in order to pay the debt amount to the state of Kuwait. She added that these debt amounts will be paid back according to easy installments. She indicated that getting these loans have reflected negative impact on the economy of Iraq.

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