The Central Bank of Iraq revealed that public debt has gradually declined; confirming that Iraq remains within safe limits, with debt levels not exceeding 31 percent of GDP.
Total external debt currently stands at about $54 billion, of which $40.5 billion dates back to before 2003—debts that the government bears no obligations for. The second portion relates to Paris Club debts, which once totaled $120 billion, 80 percent of which was written off, reducing the total to $24 billion. Most of these debts have been repaid, leaving only $3.8 billion expected to be fully settled by 2028.
