Iraq's credit rating lifts with final reparations payment to Kuwait

Iraq paid Kuwait a final installment of war reparations more than 31 years after the invasion of Kuwait, which may free up funds for new domestic projects.
Iraq Kuwait
Iraqi and Kuwaiti (L) delegations attend the joint meeting on April 29, 2012 in Baghdad, Iraq. Iraq and Kuwait initiated the formation of joint committees to resolve problems existing between them including war compensation after the invasion of Kuwait by Saddam Hussein's regime in 1991. - Ahmad Al-Rubaye-Pool/Getty Images
abuzeed.jpg
Adnan Abu Zeed
@adnanabuzeed

Iraq's economic situation in 2022 should benefit from Baghdad's paying the final installment of compensation to Kuwait for the invasion of 1990.

On Dec. 22, the Central Bank of Iraq announced the final payment to Kuwait, amounting to $52.4 billion, more than 31 years after the invasion of Kuwait.

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