Serbia revokes Iraq’s debts, signs arms deal

(MENAFN) A spokesperson for the Iraqi Ministry of Finance announced that the Serbian government has cancelled Iraq’s debts which amounted to $2.48 billion, Iraq Directory reported.

…On another note, a concord was inked with the Serbian government to acquire weapons and military equipments by Iraq’s Ministry of Defence valued at $230 million.  [Source: MENAFN – Middle East North Africa . Financial Network News: Serbia revokes Iraq’s debts ]

The debts were a write off anyway, so I think the government has made a smart move here.

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