The Contemporary Concept of Odious Debts: Iraq’s Debts as a Model

Iraqi loans stood out because of their unique characteristics. The international blockade in 1991, the occupation 2003, and actions puppet administrations were among many events that contributed to this debt, with first two being most significant. corruption faces. Due these policies, Iraq is currently undergoing debt restructuring under supervision guidelines IMF. goal research was examine causes increase following invasion 2003. study discovered even case a revenue surplus, governments continued construct annual budgets deficits are financed by debt. It caused Iraq’s debts grow accumulate. Debt has grown be significant issue for economy financial system. viewed negatively due impact on welfare people. According doctrine odious debts, right not pay payments.