Al-Kadhimi's advisor outlines the stages of the international community’s cooperation to help Iraq economically

 
Baghdad-INA
 
The financial advisor to the Prime Minister, Mudher Muhammad Saleh outlined on Saturday, the stages of cooperation of the international community to help Iraq economically, while noting that the white paper is the product of this cooperation.
 
"The international cooperation to help Iraq economically approved in Madrid Donors Conference, which was held in October 2003, in which the foreign ministers of 77 countries pledged to provide aid for the reconstruction of Iraq with an amount exceeding 33 billion dollars, to restore infrastructure destroyed by wars and the previous economic sanction”, Saleh told the Iraqi News Agency (INA). 
 
He added that "many of these grants were verified, but their financial effects were limited due to the mismanagement of the reconstruction operations at the time."
 
He pointed out that "The international community wrote off more than $100 billion of Iraqi debts, which were the debt of Iraq before 1990, under the Paris Club Agreement of 2004."
 
He continued, "The international community then continued to support Iraq, and this was embodied by the (Tokyo Declaration) by the Group of Seven major industrialized countries in their statement announced in May 2016, which supported Iraq financially and economically to confront its dual economic and security crisis at the time, and Kuwait Conference for the Reconstruction of Iraq in 2018, which helped sustain UN aid to finance stabilization operations in the liberated areas after defeating ISIS terrorist groups. "
 
 
Saleh also added, "During the double financial and health crisis that our country endured in 2020, the international community felt Iraq's need for international aid to reform and reorganize the economy in order to achieve sustainable development and combat decline and corruption, thus in the middle of 2020 , the international community formed in London what was called (The Iraq Economic Contact Group (IECG) , which includes the World Bank, the International Monetary Fund, the European Union, and G7).”
 
He continued, “IECG expressed its willingness to support financial and economic reform projects in our country and to reorganize the financing, production and governance sectors, and the white paper was the result of that cooperation," he concluded by saying: "I see that Iraq has many serious and promising opportunities to benefit from the intentions of the international community positively towards achieving reform projects and economic progress in Iraq.”