KRG showed readiness to abide by loan law adopted by Iraqi parliament: minister

File – Kurdistan and Iraqi flags

SULAIMANI (ESTA) — The Kurdistan Region has showed readiness to implement a loan law adopted by the Iraqi Council of Representatives last month, without Kurds’ consent, the finance ministry said on Tuesday.

The Kurdistan Regional Government (KRG) had sent an official letter to Iraqi Prime Minister Mustafa al-Kadhimi to show readiness to abide by the fiscal deficit financing law and oil exports through Baghdad, finance and economy minister Awat Sheikh Janab said.

“We have showed the Region’s readiness to reach an agreement during our meetings with Baghdad,” the finance minister said in a press conference.

“Yesterday, the Iraqi finance ministry sent a letter to us asking the Region to commit to the loan law. The KRG responded to the letter and showed readiness to implement the law,” he added.

The law commits the Kurdistan Region to hand over non-oil revenues and an amount of oil that SOMO indicates to the federal government in exchange for an amount of money as payment for the Region’s public servants.

KRG Minister of State for Federal Affairs Khalid Shwani said on Tuesday that Erbil had expressed readiness to implement the law.

A KRG delegation led by Janab visited Baghdad last week to discuss the Region’s share of the federal budget for 2021.

The KRG said in a statement on Saturday that Erbil and Baghdad had come to a “mutual understanding” on the draft budget law for 2021.

The Region’s share would be 12.6% per the initial deal, a source from the KRG Council of Ministers told Esta Media Network.

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