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💥🇮🇶 Iraq Wipes Out 87% of Its Foreign Debt – Legal & Financial Victory!
🏦 Rafidain Bank announced a major milestone:
✅ 87% of Iraq’s external debt has been settled
🤝 Achieved through high-level legal and financial negotiations
📜 Backed by:
🟢 Paris Club Agreement
⚖️ Cabinet Resolution No. 403 (2025)
✍️ Settlements with Dutch & French creditors, with 90%+ concession rates
⚖️ Legal wins abroad:
🏛️ Successful lawsuits in Turkey and Lebanon
💵 Recovered $2.8 million, proving Iraq’s legal strength internationally
📈 These actions:
🛡️ Improve Iraq’s sovereign credit rating
🌍 Boost global confidence in Iraq’s financial governance
📉 Bring the country closer to final debt resolution
🟢 Iraq is laying the financial foundation for long-term stability, investment, and economic sovereignty!
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A state-owned bank announces the settlement of 87% of Iraq's external debt.
Rafidain Bank announced on Wednesday that it had achieved "substantial" progress on its foreign debt portfolio, settling approximately 87% of total international obligations through high-level financial and legal negotiations, resulting in a significant reduction in the volume of foreign debt.
The bank said in a statement today, "In the context of Iraq's commitment to the Paris Club Agreement, and with the direct approval of the Council of Ministers, the bank concluded major negotiated settlements with Dutch and French creditor companies, the most prominent of which was: Cabinet Resolution No. (403) of 2025: Settlement of three lawsuits filed by Dutch companies with a concession rate in favor of the bank exceeding 90% of the value of those claims.
The statement explained that "the bank has achieved significant legal successes abroad, most notably winning lawsuits in Turkey and Lebanon, enabling it to recover more than $2.8 million, reflecting the competence of its legal apparatus and its ability to defend the state's rights before international courts."
The bank affirmed in its statement that it "continues its efforts to close the remaining issues through final settlements, which will strengthen Iraq's sovereign rating and consolidate international confidence in its financial stability and commitment to sound financial governance." link
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