(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.