The Central Bank of Iraq pays $ 83 million to Lebanon


The Lebanese government has officially received a report of a financial transfer from the Central Bank of Iraq to Lebanese banks by paying a debt of deposits estimated at $ 83 million.
The Office of the Minister of State for Anti-Corruption Affairs in the caretaker government, Nicola Tueni, the news, pointing out that the financial transfer paid from the deposits of the Lebanese banks with the Iraqi Central Branch Erbil.

Dion billion dollars since 2003
The minister said earlier that the debts recognized by Iraq owed for the years 2003 and above, estimated at about one billion dollars, but the benefits belong to legal persons (companies and banks). The repayment would revive the Lebanese economy, he said.
The subject of these outstanding debts was discussed during the visit of President Michel Aoun to Iraq during the month of February, as all the files were submitted to them.

3 types of debt
Lebanon’s debt is divided into three types: the first, the debts of about 153 Lebanese industrial companies to Iraq for the period 1993 to 2003. It amounts to about one billion dollars under the Lebanese accounts.
These debts were incurred by Lebanese companies that operated under the umbrella of “oil for food”.
Iraq will pay only 10% of the debts, in exchange for the cancellation of the file, as decided at the Paris Club with all the global debt that resulted from Iraq during the years of the siege of the tenth from 1993 to 2003.
The second type is the accumulated Lebanese debts to Iraq since the fall of Saddam Hussein’s regime in 2003, estimated at about one billion dollars, not claimed by Lebanon throughout this period because of Iraq’s difficult circumstances.
It was discussed during the visit of President Michel Aoun to Baghdad last February.
The third type is the deposits of the Lebanese banks with the Central Bank of Iraq, which arose after the transfer of the funds of the Lebanese banks at the request of the Iraqi authorities to the Iraqi Central Bank in the form of deposits as a condition to open additional branches, but these branches were not opened additional $ 83 million except And therefore Lebanon has requested that it be recovered.

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