RDC denies claims of African loans under al-Sudani government
Shafaq News- Baghdad
The Reconstruction and Development Coalition (RDC), led by Mohammed Shia al-Sudani, denied on Saturday claims that al-Susani’s government had granted loans to African countries, saying the loans referenced by a member of parliament date back to the 1970s and 1980s.
In a statement, the coalition described remarks by lawmaker Mohammed al-Shammari as misleading, arguing that the loans were issued under Iraq's former regime.
“The former regime provided oil shipments and loans to several Arab, African, and Asian countries for political purposes,” the coalition clarified, adding that lending increased with the outbreak of Iraq's wars in the early 1980s.
Iraq signed two loan agreements with Tanzania on December 19, 1979, and February 9, 1980, with a combined value of approximately $187 million. It also signed a loan agreement with Uganda on March 7, 1981, worth nearly $15 million, and another with the Central African Republic on November 19, 1984, valued at about $7 million.
The coalition said the figures have been updated through the end of 2024 and are reviewed annually based on the original loan amounts, accrued interest, administrative costs, and penalties resulting from non-payment.
A specialized committee comprising relevant government institutions is responsible for negotiating settlements, while any proposed settlement agreements must be submitted to the Council of Ministers for approval, the coalition explained.
Stressing that throughout al-Sudani's tenure, the Council of Ministers has not approved any reduction or settlement of sovereign loans, the RDC said that instead, it has directed the Ministry of Finance, the Iraqi Fund for External Development, and the relevant committee to continue pursuing the debts in accordance with applicable legal procedures.
