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Global Rating Corporation: Iraq's debt stands at $ 73 billion
The international GFP rating agency revealed today, Saturday, that Iraq’s external debt amounted to $ 73 billion, while it indicated that the United States of America came first in the world with the most indebted countries in the world.
According to the statistics published by the Foundation during the year 2020, "The United States ranked first in the world with the largest debt with 17 trillion and 910 billion dollars, followed by the United Kingdom with a debt of 8 trillion and 126 billion dollars, and then France comes in third place with a debt of 5 trillion and 360 billion Dollars. "
She added that "the UAE comes at the forefront of the most indebted Arab countries at $ 237 billion, followed by the Kingdom of Saudi Arabia at $ 205 billion and $ 100 million, and then comes at the third place Qatar with 167 billion and $ 800 million, then Egypt ranked fourth with debts of 77 billion and 470 million Dollars, and then Iraq ranked fifth with a debt of 73 billion and 20 million dollars link
The U.S. economy has deteriorated. Reducing the outlook for sovereign debt to 'negative'
Fitch credit rating agency downgraded its outlook on U.S. sovereign debt negatively, while keeping its AAA rating unchanged, citing risks to its credit ability amid mounting debt burdens.
Fitch said after the u.S. markets were closed that the change in expectations reflected "the ongoing deterioration in U.S. public finances and the absence of a credible fiscal rationalization plan."
"There is a growing risk that U.S. policymakers will not rationalize public finances enough to stabilize public debt, after the pandemic is over," the agency said, referring to current spending to help mitigate the coronavirus outbreak, and at the current rate of spending, u.S. national debt will reach 130% of annual GDP, the highest of any AAA country.
The move comes amid a deadlock in Washington over a bill to launch a new stimulus package, after Congress has already passed legislation on $3 trillion to help the economy and fund the pandemic's medical response. link
Source: Dinar Recaps
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