“Iraq pays part of $7bn debt to Iran”

The head of the Iran-Iraq Joint Chamber of Commerce says part of Iraq’s $7 billion debt have been received from Baghdad.

Yahya Al Eshagh said the process of receiving these claims continues based on an agreement between the central banks of the two countries.

Al Eshagh added Iraq’s debts to Iran mostly relate to gas and electricity exports to the Arab country. He added that the Central Banks of Iran and Iraq have an agreement under which the Iranian Central Bank will spend part of the receivables to purchase the required items through Iraq and the other part will be paid to Iran in banknotes.

Al Eshagh said since the flow of exports to Iraq continues with the partial payment, Iraq’s debts to Iran remain in the range of 5 to 7 billion dollars, and consultations are underway to reduce this total amount and collect the total claims.

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