Iraqi external debt reduces due to the rise in oil prices and increased exports

The Vice President of the Central Bank and Economic Adviser to the Iraqi Prime Minister, Dr. Mazhar Muhammad Salih, said that the improvement in the economic situation has lowered the volume of Iraqi foreign debts to twenty billion dollars.

Economists considered the rise in global crude oil prices, and the increase in oil exports, especially last year, are behind the low level of external debt.

They added that the financial data indicate an increase in the value of the government’s internal debt, by a large percentage reaching seventy-four trillion Iraqi dinars, yet, the reasons are unknown and clarifications from the Ministry of Finance haven’t been received.