CBI: Public debt nears $150B

Shafaq News – Baghdad

On Saturday, Central Bank of Iraq (CBI) Governor Ali al-Alaq revealed that the total public debt has reached nearly $150 billion.

In a written response to Parliament delivered by MP Raed al-Maliki, al-Alaq warned that "the budget deficit is too large to be covered through borrowing or bond sales," noting that Iraq faces no restrictions from the US Federal Reserve on access to oil revenues, and currently holds about $11 billion in US Treasury bonds.

Read more: Sovereignty strain: US sanctions trigger Iraq's liquidity nightmare

CBI data shows that domestic debt rose 2.9% in July compared to June and 16% year-on-year, highlighting Iraq’s growing dependence on internal borrowing to meet fiscal obligations.

Separately, MP Hadi al-Salami said the Federal Supreme Court has asked Parliament to summon Prime Minister Mohammed Shia al-Sudani over delays in submitting the 2025 budget tables and final accounts, a delay that could further impact Iraq’s debt and fiscal reporting.