NO. 51


Financial and Banking News

Budgets & Revenues

Iraq Says It Will Honor Loans Repayments

Iraqi Finance Minister Majid `Abd Ja'far told the Iraqi News Agency on 17September that his country is committed to repaying its overseas debts,estimated at $42bn, excluding payments due to Gulf countries. Mr. Ja'far saidthat international economic sanctions are currently preventing Iraq fromservicing its debts. Iraq's debt burden is particularly onerous since 97% ofits...