Skip to main content

Iraqi parliament in the dark about $2.7 billion loan deal

Iraq's parliament was not involved in the negotiations for a $2.7 billion US loan package and still hasn't been fully briefed on the deal, leaving many Iraqi lawmakers uneasy.
Containers with weapons, which are part of a German Bundeswehr armed forces military aid shipment for Kurdish forces in Northern Iraq, are prepared for loading into a Dutch air force KDC-10 plane at Leipzig airport, September 24, 2014. German Chancellor Angela Merkel defended her government's taboo-breaking decision to send arms to Kurds fighting Islamic State militants in Iraq, telling parliament on Monday that the group posed a major security threat to Germany and Europe.   REUTERS/Fabrizio Bensch (GERMAN
Read in 

BAGHDAD — US Ambassador to Iraq Stuart Jones announced July 21 that the Iraqi government has started withdrawing the $2.7 billion loan secured on June 29. However, the Iraqi parliament had not been briefed on the deal, making it illegal in the eyes of many of its members.

A memorandum of understanding was signed between the Iraqi government and the US administration on military purchases. The deal will allow Iraq to defer payment for the purchase of weapons and military equipment.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.