“Political reasons” prevent cancellation of Iraq’s debts to Gulf states

BAGHDAD / IraqiNews.com: An Iraqi Ministry of Finance source on Tuesday said that Iraq’s debts to the Gulf countries have not been written off thus far as a result of “political reasons.” “Efforts that have been made by the Iraqi Ministry of Finance and the Central Bank of Iraq (CBI) throughout the past four years have resulted in the conditional cancellation of Iraqi debts owed to the Paris Club, totaling $140 million,” the source told IraqiNews.com. “Debts owed to Saudi Arabia, Qatar and Kuwait remain though,” the source added. The source did not reveal the amount of debts Iraq owes to the Gulf countries, adding that the debts have not been wiped off thus far due to “political reasons.” SS (P) 1