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.
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.
Meanwhile, the parliament's Security and Defense Committee is speaking out on the need to consider the opinion of the legislative branch on such deals and loans. The committee is particularly concerned about the impact of the loan's interest payments on the state budget.
In a statement June 29, the Iraqi Finance Ministry said that the agreement was to facilitate the purchase of military equipment including advanced weaponry within the framework of the foreign military financing program for ground, air and naval forces.
