Shafaq News- Baghdad
The Reconstruction and Development Coalition (RDC), led byMohammed Shia al-Sudani, denied on Saturday claims that al-Susani’s governmenthad granted loans to African countries, saying the loans referenced by a memberof parliament date back to the 1970s and 1980s.
In a statement, the coalition described remarks by lawmaker Mohammedal-Shammari as misleading, arguing that the loans were issued under Iraq'sformer regime.
“The former regime provided oil shipments and loans toseveral Arab, African, and Asian countries for political purposes,” thecoalition clarified, adding that lending increased with the outbreak of Iraq'swars in the early 1980s.
Iraq signed two loan agreements with Tanzania on December19, 1979, and February 9, 1980, with a combined value of approximately $187million. It also signed a loan agreement with Uganda on March 7, 1981, worthnearly $15 million, and another with the Central African Republic on November19, 1984, valued at about $7 million.
The coalition said the figures have been updated through theend of 2024 and are reviewed annually based on the original loan amounts,accrued interest, administrative costs, and penalties resulting fromnon-payment.
A specialized committee comprising relevant governmentinstitutions is responsible for negotiating settlements, while any proposedsettlement agreements must be submitted to the Council of Ministers forapproval, the coalition explained.
Stressing that throughout al-Sudani's tenure, the Council ofMinisters has not approved any reduction or settlement of sovereign loans, the RDCsaid that instead, it has directed the Ministry of Finance, the Iraqi Fund forExternal Development, and the relevant committee to continue pursuing the debtsin accordance with applicable legal procedures.
