Member of Parliament Finance reveals the existence of 80 billion dollars of Iraqi money in the American treasury

05/24/2020 01:36

Member

Baghdad today - Baghdad

Member of Parliamentary Finance Committee Muhammad Sahib al-Darraji revealed, on Saturday (23 May 2020), that there are 80 billion dollars of Iraqi money in the US Treasury.

Al-Daraji said in a televised interview I followed (Baghdad today), that "Iraq possesses financial reserves of approximately 80 billiondollars in the money of the central bank, in the form of cash, bonds and alloys in the US Treasury."

And he talked about the financial situation of Iraq and its economy, which depends only on oil imports, and said that "Iraq is more like a gas station, if its prices rise, the standard of living of the Iraqi individual becomes good and if it falls, then his affairs decline and deteriorate."

And Al-Darraji said, "Iraq’s financial imports for the month of April reached nearly one billion and 400 million dollars, while Iraq needs an operating budget that needs approximately 5 billion dollars." He pointed out that "Iraq's financial imports during 2019 amounted to nearly 78 billion dollars. That is, what he enters in monthly money was more than $ 6 billion.

The UN Security Council committed the Iraqi government at the end of 2010 to develop a plan to receive it the tasks of overseeing the Development Fund for Iraq from the United Nations at the end of 2010, after which Iraq would place it in the US federal treasury to ensure immunity by the US Presidential Law on it that would protect Iraq’s imports Oil from seizure by many creditors. "

And revealed the member of the Finance Committee in the Iraqi parliament, the representative of the "Kurdistan Islamic Union", Jamal Kujer earlier on the details of the debt funds owed by Iraq.

He said in a press statement that "the debts incurred by Iraq include two classes: the first is odious debts, and the second, regular, includes international monetary loans, JICA, the Japanese loan, and another group of loans, which the state has resorted to in special circumstances, for special projects."

Cougar added, that the odious debt, "was 48 billion dollars, of which about 22 billion dollars was paid, and it includes compensation for Kuwait, the Gulf War, and others."

He continued, "As for the debts of Bahrain and Saudi Arabia, all came from the issue of Saddam Hussein's purchase of arms from it, and from the rest of the Gulf states, in his war with Iran in the eighties of the last century."

He continued, "Also includes the odious debts, resulting from Iraq, from Saddam Hussein's invasion of Kuwait and parts of Saudi lands."

He continued, "40 billion dollars in debt to Saudi Arabia, Iraq refuses to recognize, and pay, because Saudi Arabia and the Gulf states were supporting Saddam Hussein in his war with Iran, and after the American invasion of Iraq in 2003, these countries transferred these funds from Support to loans, so the new governments did not recognize them, they did not recognize, and only recognized the debts arising from the invasion of Kuwait.

baghdadtoday.news